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Math Help - Optimization

  1. #1
    Junior Member
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    Optimization

    I tried doing these question s and i'm not getting the answers...i;m quite lost can anyone please help?

    1) the demand functions is given as P(x)=[(120-(x/20))^0.5], where x is the # of units sold. if the revenue function is given as R(x)= xP(x), then how many units must be sold to max revenue?

    2)A company finds a production cost in dollars for x with the function of
    c(x)= 14000+ 0.2x + 0.000003x^2. at what level is the average cost a minimum
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  2. #2
    MHF Contributor
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    1 & 2) Has your course introduced to you the concept of "The First Derivative"? This is very important for this sort of an investigation.

    2) If c(x) is the Total Production Cost, then (c(x))/x is the Average Production Cost per Unit.
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  3. #3
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    yes i have learned the first derivative but it's just that i dont know how to apply it into these 2 questions
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  4. #4
    MHF Contributor Mathstud28's Avatar
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    Quote Originally Posted by imthatgirl View Post
    yes i have learned the first derivative but it's just that i dont know how to apply it into these 2 questions
    Read this

    http://www.mathhelpforum.com/math-he...-tutorial.html

    read the part labeled "first derivative test"
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