Reference no: EM132285499

In the real world, it is important to determine when your business will reach maximum profits or how to minimize costs. If you think about it for a minute, everything to the left of your maximum is increasing (so profits are rising) but everything to the right of your maximum is decreasing (consequently profits are decreasing). You should be able to see the similarities for minimizing costs.

Think about various types of businesses and aspects involved either in production of products or ways of investing resources. I would like for you to post an example that would illustrate why/how derivatives can be used in business. I'll give one example which then CAN'T be used by you as your example since I am giving this to you: A cereal manufacturer wants to know how to design a box for cereal that will hold a volume of 16 oz. using the least amount of cardboard. I would then want you to comment as to the reason why this would be important and, if possible, explain how to determine the process needed to find this. I don't expect an example where you are using exact values and solving for a specific numerical answer; instead I want a general explanation of how to approach finding the solution. 

I want you to answer in a full paragraph and explain what factors you would consider in making this decision. I hope to prompt is a discussion between class members about what considerations are important in the decision making process. Please review the grading criteria listed in the start here module if you don't recall how your discussions will be graded.