Question

The cost per hour of running an assembly line in a

manufacturing plant is a function of the number of
items produced per hour. The cost function is
C(x) 0.3x2 – 1.2x + 2, where C (x) is the cost per
hour in thousands of dollars, and x is the number of
items produced per hour, in thousands. Determine
the minimum production level, and the number of
items produced to achieve it. Include a final written
statement.

Answer 1

the minimum production level is costing $800 (0.8×$1000) per hour for 2000 (2×1000) items produced per hour.

Explanation:

if there is no mistake in the problem description, I read the following function :

C(x) = y = 0.3x² - 1.2x + 2

I don't know if you learned this already, but to find the extreme values of a function you need to build the first derivative of the function y' and find its solutions for y'=0.

the first derivative of C(x) is

0.6x - 1.2 = y'

0.6x - 1.2 = 0

0.6x = 1.2

x = 2

C(2) = 0.3×2² - 1.2×2 + 2 = 0.3×4 - 2.4 + 2 = 1.2-2.4+2 = 0.8

so, the minimum production level is costing $800 (0.8×$1000) per hour for 2000 (2×1000) items produced per hour.