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Determine the level of production x

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Reference no: EM132076887

Suppose that the price at which x units of a particular commodity can be sold is given by p(x) = 365 - 2x and that the total cost of producing x units is

C(x) = 5x2 + 5x + 800. 

(a) Find the level of production x at which the profit function P(x) is maximized.

(b) Determine the level of production x at which the average cost A(x) = C(x)/x is minimized

Reference no: EM132076887

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