A shareholders' group, in lodging a protest, claimed that the mean tenure for a chief executive office (CEO) was at least eight
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Answer:
a) C(1,000)=288,491.11 $
b) c(1,000)=288.49 $/u
c) dC/dx(1,000)=349.74 $/u
d) x=100 u
e) c=220 $/u
Step-by-step explanation:
(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 minimum average cost?