Answer:
The minimum cost is $9,105
Step-by-step explanation:
<em>To find the minimum cost differentiate the equation of the cost and equate the answer by 0 to find the value of x which gives the minimum cost, then substitute the value of x in the equation of the cost to find it</em>
∵ C(x) = 0.5x² - 130x + 17,555
- Differentiate it with respect to x
∴ C'(x) = (0.5)(2)x - 130(1) + 0
∴ C'(x) = x - 130
Equate C' by 0 to find x
∵ x - 130 = 0
- Add 130 to both sides
∴ x = 130
∴ The minimum cost is at x = 130
Substitute the value of x in C(x) to find the minimum unit cost
∵ C(130) = 0.5(130)² - 130(130) + 17,555
∴ C(130) = 9,105
∵ C(130) is the minimum cost
∴ The minimum cost is $9,105
