document.write( "Question 60372This question is from textbook Elementry and Intermediate Algebra
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document.write( ": Hello,\r
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document.write( "Do I need to rearange this type problem to solve?\r
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document.write( "Please advise....\r
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document.write( "Thanks.\r
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document.write( "Q 19: A company uses the cost function C (w) = 0.04 w^2 – 6.0 w + 275 to model the unit cost in dollars for producing ‘w’ widgets. Find:\r
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document.write( "a. How many widgets the company needs to make to achieve minimum unit cost?
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document.write( "b. What is the minimum unit cost? \n" );
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Algebra.Com's Answer #41472 by josmiceli(19441)![]() ![]() You can put this solution on YOUR website! You can plot this equation or just picture what it should look like \n" ); document.write( "I'll just try to describe it. \n" ); document.write( "(1) Because the \n" ); document.write( "that slopes negatively down from the left, comes down to a minimum and \n" ); document.write( "slopes back up positively. \n" ); document.write( "(2) The problem is to find the minimum. The minimum will be half way \n" ); document.write( "between two values of w that have the same C(w), in other words, half \n" ); document.write( "way between the points (w[1],C[1]) and (w[2],C[2]) where C[1] = C[2] \n" ); document.write( " \n" ); document.write( "If they don't produce any widgets, the fixed cost is $275 \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "Now, if I find another value of w for which C(w) = 275, the C(w) mid- \n" ); document.write( "way between (0,275) and (w[2],275) will be minimum cost \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "subtract 275 from both sides \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "If the 1st factor, w, is zero, that's the point we already have, (0,275) \n" ); document.write( "so, set the 2nd factor equal to zero. \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "That's our 2nd point. We now have (0,275 and (150,275) \n" ); document.write( "The minimum C is halfway between the w's, or \n" ); document.write( "That's the answer to (a), 75 widgets made give minimum cost \n" ); document.write( "Now find C(w) \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( " \n" ); document.write( "That means the min is at (75,50) and the answer to (b) is \n" ); document.write( "the minimum unit cost is $50 \n" ); document.write( "A simple test will tell you if this is truly the min \n" ); document.write( "Find C(w) for w = 74.9 and for w= 75.1. These values of w should \n" ); document.write( "give costs that are both slightly higher than $50. \n" ); document.write( "I get C(w) = 50.0004 for both \n" ); document.write( " |