Math Problem Statement
A company's average cost per unit when x units are produced is defined to be
Average cost =
Total cost
x
.
Suppose a company's average costs are given by
Average cost =
5000/x + 75 + 0.8x.
Solution
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Math Problem Analysis
Mathematical Concepts
Algebra
Cost Functions
Optimization
Formulas
Average Cost = Total Cost / x
Average Cost = 5000/x + 75 + 0.8x
Theorems
Optimization of Functions
Cost Function Analysis
Suitable Grade Level
Grades 11-12
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