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MAT 142 College Mathematics For The Average Cost Function

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Questions:

 1.    Average Cost Function. If a cost function is given by
 C(x) = 2x2 + 50, for 0 x  15,
then use calculus to find the minimum value of the average cost function.
        
 2.    Graph MC(x) and . What do you notice?
 
 3.    For the following three revenue functions, R(x) = 10x, R(x) = 20x, R(x) = 30x, use calculus to analyze if the company’s maximum profit will be positive, negative, or zero. You must show a sufficient amount of work.
 
4.    Graph the three marginal revenue functions from problem 3 along with MC(x) and . Comment on how you can use the graph to answer question 3.
 
 5.    Look up under allocation, over allocation and efficient allocation and explain how they relate to the graph in problem 4.
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