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February 11th, 2012, 12:15 AM   #1
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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.
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February 11th, 2012, 06:21 PM   #2
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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.
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February 12th, 2012, 03:00 AM   #3
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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
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February 12th, 2012, 04:42 AM   #4
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Re: Application Of Derivatives in Commerce and Economics

Well, what did you get for the first part?
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February 12th, 2012, 09:31 AM   #5
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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..
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February 12th, 2012, 09:33 AM   #6
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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 ?
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February 12th, 2012, 09:35 AM   #7
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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
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February 12th, 2012, 02:48 PM   #8
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Re: Application Of Derivatives in Commerce and Economics

You forgot the constant of integration, which is what lets you solve for f(1) = 12.
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February 13th, 2012, 01:24 AM   #9
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Re: Application Of Derivatives in Commerce and Economics

okay.. thanks
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