Cost In a manufacturing process where represents the cost of producing units, the
Chapter 16, Problem 45(choose chapter or problem)
Cost
In a manufacturing process where y = C(x) represents the cost of producing x units, the elasticity of cost is defined as
\(E(x)=\frac{\text { marginal cost }}{\text { average cost }}=\frac{C^{\prime}(x)}{C(x) / x}=\frac{x}{y} \frac{d y}{d x}\)
Find the cost function when the elasticity function is
\(E(x)=\frac{20 x-y}{2 y-10 x}\)
where
C(100) = 500
and \(x \geq 100\).
Text Transcription:
E(x)=marginal cost/average cost=C’(x)/C(x)/x=x/y dy/dx
E(x)=20x-y/2y-10x
x geq 100
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