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 February 11th, 2012, 12:15 AM #1 Member   Joined: Jan 2012 Posts: 43 Thanks: 0 Application Of Derivatives in Commerce and Economics I couldnt understand this problem. What do we exactly need to do here ? If anyone could help me out... Thanks : The marginal cost function of manufacturing x units of a commodity is 6 + 10x - 6x^2 . The total cost of producing one unit of the commodity is Rs. 12 . Find the total and average cost function. Thanks for checking this out. February 11th, 2012, 06:21 PM #2 Global Moderator   Joined: Nov 2006 From: UTC -5 Posts: 16,046 Thanks: 938 Math Focus: Number theory, computational mathematics, combinatorics, FOM, symbolic logic, TCS, algorithms Re: Application Of Derivatives in Commerce and Economics Take the integral to find the total cost, getting total cost = f(x) for some polynomial f(x) with an unknown constant term. Then solve f(1) = 12 to find that constant. February 12th, 2012, 03:00 AM #3 Member   Joined: Jan 2012 Posts: 43 Thanks: 0 Re: Application Of Derivatives in Commerce and Economics Thanks a lot.. I got your solution but I couldn't understand the second part.. that is after finding the total cost.. Thanks  February 12th, 2012, 04:42 AM #4 Global Moderator   Joined: Nov 2006 From: UTC -5 Posts: 16,046 Thanks: 938 Math Focus: Number theory, computational mathematics, combinatorics, FOM, symbolic logic, TCS, algorithms Re: Application Of Derivatives in Commerce and Economics Well, what did you get for the first part? February 12th, 2012, 09:31 AM #5 Member   Joined: Jan 2012 Posts: 43 Thanks: 0 Re: Application Of Derivatives in Commerce and Economics Well, the first part that m getting is just the integrated part, that comes to 6x + 5x^2 - 2x^3 which is the total cost.. February 12th, 2012, 09:33 AM #6 Member   Joined: Jan 2012 Posts: 43 Thanks: 0 Re: Application Of Derivatives in Commerce and Economics So is this correct ? 6x + 5x^2 - 2x^3 = 12x or, 6x - 5x^2 + 2x^3 = 0 ? February 12th, 2012, 09:35 AM #7 Member   Joined: Jan 2012 Posts: 43 Thanks: 0 Re: Application Of Derivatives in Commerce and Economics that is, 2x^2 - 5x + 6 = 0... I dont know why its getting so tough..though it doesn't seem to be February 12th, 2012, 02:48 PM #8 Global Moderator   Joined: Nov 2006 From: UTC -5 Posts: 16,046 Thanks: 938 Math Focus: Number theory, computational mathematics, combinatorics, FOM, symbolic logic, TCS, algorithms Re: Application Of Derivatives in Commerce and Economics You forgot the constant of integration, which is what lets you solve for f(1) = 12. February 13th, 2012, 01:24 AM #9 Member   Joined: Jan 2012 Posts: 43 Thanks: 0 Re: Application Of Derivatives in Commerce and Economics okay.. thanks  Tags application, commerce, derivatives, economics Search tags for this page
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