SOLUTION: 64. Minimizing cost. A company uses the formula C(x) = 0.02x^2 – 3.4x + 150 to model the unit cost in dollars for producing x stabilizer bars. For what number of bars id the unit

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Question 60402: 64. Minimizing cost. A company uses the formula C(x) = 0.02x^2 – 3.4x + 150 to model the unit cost in dollars for producing x stabilizer bars. For what number of bars id the unit cost at its minimum? What is the unit cost at level of production?
Answer by 303795(602) About Me  (Show Source):
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The minimum will be on the Line of Symmetry at the Turning Point.
The LOS can be found using LOS =-b/2a with a being the x^2 coefficient and b being the x coefficient
For the equation C(x) = 0.02x^2 – 3.4x + 150
the LOS = 3.4/(2*0.02)
= 3.4/0.04
= 85
Substitute x = 85 into the Cost equation to find the cost of producing that many bars
C=0.02%2A85%5E2-3.4%2A85%2B150
C=144.5-289%2B150
C=5.50
The cost per item is found by dividing the cost by the number of items
Cost+per+item+=5.50%2F85 = $0.064