Home
Class 12
MATHS
The cost function of a product is given ...

The cost function of a product is given by `C(x)=(x^(3))/(3)-45x^(2)-900x+36` where x is the number of units produced. How many units should be produced to minimise the marginal cost ?

Text Solution

AI Generated Solution

The correct Answer is:
To find the number of units that should be produced to minimize the marginal cost, we will follow these steps: ### Step 1: Define the Cost Function The cost function is given as: \[ C(x) = \frac{x^3}{3} - 45x^2 - 900x + 36 \] ### Step 2: Find the Marginal Cost The marginal cost (MC) is the derivative of the cost function with respect to \(x\): \[ MC(x) = \frac{dC}{dx} \] Calculating the derivative: \[ MC(x) = \frac{d}{dx}\left(\frac{x^3}{3} - 45x^2 - 900x + 36\right) \] Using the power rule: \[ MC(x) = x^2 - 90x - 900 \] ### Step 3: Minimize the Marginal Cost To find the minimum marginal cost, we need to differentiate the marginal cost function again and set it to zero: \[ \frac{d(MC)}{dx} = 2x - 90 \] Setting the first derivative equal to zero: \[ 2x - 90 = 0 \] Solving for \(x\): \[ 2x = 90 \implies x = 45 \] ### Step 4: Verify Minimum Condition To confirm that this point is indeed a minimum, we need to check the second derivative: \[ \frac{d^2(MC)}{dx^2} = 2 \] Since \(2 > 0\), this indicates that the marginal cost function is concave up at \(x = 45\), confirming that it is a minimum. ### Conclusion The number of units that should be produced to minimize the marginal cost is: \[ \boxed{45} \] ---
Promotional Banner

Topper's Solved these Questions

  • MATHEMATICS-(2019)

    ICSE|Exercise SECTION - B|8 Videos
  • MATHEMATICS SPECIMEN QUESTION PAPER

    ICSE|Exercise SECTION C|8 Videos
  • MATHEMATICS-2011

    ICSE|Exercise SECTION-C|6 Videos

Similar Questions

Explore conceptually related problems

The cost and revenue functions of a product are given by C(x)=2x+400\ a n d\ R(x)=6x+20 respectively, where x is the number of items produced by the manufacturer. How many items the manufacturer must sell to realize some profit?

The total cost function is given by C(x) = 2x^(3)-3.5x^(2) +x . Find the marginal average cost function.

The total cost function for a production is given by C(x)=3/(4)x^(3)-7x+27 . Find the number of units produced for which M.C. = A.C. {M.C. = Marginal Cost and A.C. = Average Cost}

The total cost function for a production is given by C (x) = 3/4 x ^(2) - 7x + 27. Find th number of units produced for which M.C. = A.C. (M.C= Marginal Cost and A.C. = Average Cost)

The total cost function is given by C(x) = 2x^(3) - 3 . 5 x^(2) + x . The point where MC curve cuts y-axis is

If the total cost function for a production of x units of a commodity is given by 3/4x^(2)–7x+27 , then the number of units produced for which MC = AC is

If the total cost function for a manufacturer is given by C=(5x^(2))/(sqrt(x^(2)+3))+500 . Find the marginal cost.

The marginal cost function of manufacturing x units of a product is given by MC = 3x^(2) - 10x +3 , then the total cost for producing one unit of the product is Rs. 7. Find the total cost function.

If the marginal cost function a product is given by MC=10-4x+3x^(2) and fixed cost is Rs 500, then the cost function is

If the demand function is p=200-4x , where x is the number of units demand and p is the price per unit, the marginal revenue is