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Find production level that will minimize the average cost

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Reference no: EM131139160

Problem - If C(c is the cost of producing x units of a commodity, then the average cost per unit is c(x) = C(x)/x. Consider the cost function C(x) given below.

C(x) = 16,000 + 170x + 4x3/2

(a) Find the total cost at a production level of 1000 units.

(b) Find the average cost at a production level of 1000 units.

(c) Find the marginal cost at a production level of 1000 units.

(d) Find the production level that will minimize the average cost.

(e) What is the minimize average cost?

Reference no: EM131139160

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