Total cost function running a certain business entity was found to be cost functions =50000+15X+0.01X² where X is output product calculate The production level that will maximize the total cost?

To find the production level that will maximize the total cost, we need to find the vertex of the quadratic function.

The quadratic function is in the form: f(x) = ax^2 + bx + c

In this case, a = 0.01, b = 15, and c = 50000.

The x-coordinate of the vertex can be found using the formula: x = -b / (2a)

x = -15 / (2 * 0.01)
x = -15 / 0.02
x = -750

Since the production level cannot be negative, we can ignore the negative value.

Therefore, the production level that will maximize the total cost is 750.

5+5

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