9. Find the production level that minimizes the average cost per unit for the cost function C = 400 + 0.05x + 0.0025x^2, where C is the cost (in dollars) of producing x units of a product. What is the minimum average cost?
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05x + 0.0025x^2) / x Simplify the expression: AC = 400/x + 0.05 + 0.0025x To minimize the average cost, we need to find the critical points by taking the derivative of the average cost function with respect to x and setting it equal to 0: d(AC)/dx = -400/x^2 + Show more…
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