Question

55. The daily cost of production for x tonnes of a commodity as C = 80 - 5x + x2. How many tonnes should be produced for the minimum cost? Also, find the minimum cost. ​

Answer 1

Answer:

If C(x) is the total cost of producing x units, then the change in the total cost if one additional unit needs to be produced, at an output level of x units, is given by –

Marginal Cost = \frac{dC(x)}{dx}

Similarly, we may calculate the marginal average costs as – \frac{d[AC(x)]}{dx}, \frac{d[AFC(x)]}{dx} and so on.

Step-by-step explanation:

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