Question

The marginal cost of a product can be thought of as the cost of producing one additional unit of output. For​ example, if the marginal cost of producing the fiftieth product is​ $6.30, then it cost​ $6.30 to increase production from 49 to 50 units of output. Suppose that the marginal cost C​ (in dollars) to produce x digital cameras is given by Upper C (x )equals 0.03 x squared minus 3 x plus 240C(x)=0.03x2−3x+240. How many digital cameras should be produced to minimize marginal​ cost? What is the minimum marginal​ cost?

Answer 1

Answer:

Check the explanation

Explanation:

C(x) = 0.06x^2 - 6x + 218

Its a quadratic function , minima would occur at vertex.

x is no. of digital cameras

x = -b/2a = -(-6/2*0.06) = 50 cameras

Minimum marginal cost : C(50) = 0.06(50)^2 - 6*50 + 218 = $ 68