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Show the average cost is equal to the marginal cost

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Reference no: EM131563865

Question: MINIMIZING PRODUCTION COSTS The total monthly cost (in dollars) incurred by Cannon Precision Instruments for manufacturing x units of the model M1 camera is given by the function

C(x) = 0.0025x2 + 80x + 10,000

a. Find the average cost function C¯.

b. Find the level of production that results in the smallest average production cost.

c. Find the level of production for which the average cost is equal to the marginal cost.

d. Compare the result of part (c) with that of part (b).

Reference no: EM131563865

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