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The cost (in dollars) of producing q items is given by C(q)=q3−28q2+202q

Accounting

The cost (in dollars) of producing q items is given by

C(q)=q3−28q2+202q.C(q)=q3−28q2+202q.

Find the average cost function and use it to answer the questions below.

What is the production level that will minimize average cost?

a) 28 units

b) 30 units

c) 6 units

d) 14 units

What is the minimum average cost?

a) $28 per item

b) $6 per item

c) $12 per item

d) $34 per item

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