The minimum production cost of company 2 is greater than the minimum production cost of company 1. We arrived at this value by comparing the production cost of both companies.
<h3>What is meant by minimum production cost?</h3>
The overall cost incurred by a company to manufacture a product or provide services is known as the cost of production.
The objective of every company is to keep this cost at minimum, hence the minimum production cost.
<h3>How do find minimum Production Cost?</h3>
Recall that the production function is given as:
f(x) = 0.25x² - 8x + 600
Inserting the values given by the schedule we have
- f(6) = 0.25(6²) - 8(6) + 600 = 561
- f(8) = 0.25(8²) - 8(8) + 600 = 552
- f(10) = 0.25(10²) - 8(10) + 600 = 545
- f(12) = 0.25(12²) - 8(12) + 600 = 540
- f(14) = 0.25(14²) - 8(14) + 600 = 537
For company 2, we are given the various production costs as;
x - g(x)
6 - 862.2
8 - 856.8
10 - 855
12 - 856.8
14 - 862.2
Juxtaposing the above, we can infer that the minimum production cost of company 2 is greater than the minimum production cost of company 1.
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The author who quotes the video game researcher is using statistical argument.
<h3>What is statistical argument?</h3>
Statistical argument is an argument based on facts and figures from a research. This kind of argument requires the researcher to get values in order to make judgement.
Children who earn poor grades in school do well in playing video games. This is because, the researcher has found out how low they perform in class in terms of their test score and has used this as a measure to determine how poor they play video games.
Learn more about statistical argument:
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Option C and D.
Please correct me if im wrong.
