Based on the given information, the minimum production cost for company __1__ is greater.
Step-by-step explanation:
You have to find the minimum value of a f(x), so you need to differentiate it, set it to zero and solve for x. Then differentiate the function again and calculate the value of the second derivative at the maximum or minimum points to find out whether it is a maximum or a minimum.
If the result is negative -> maximum point.
If the result is positive -> minimum point.
If it is zero it can be a maximum, minimum or inflexion point.
First derivative.
[/tex] Second derivative. Confirm it's a minimum point.