Applied Mathematics Archives - edsmathscholar.com

APPLICATION OF DERIVATIVES IN OPTIMIZATION IN BUSINESS

Applied Mathematics

On 25/03/2022

This post presents some examples of how the derivatives are applied in optimization in business. Example 1: (Minimizing Average Cost) In the making of some product, the total cost is TC = $(0.4Q2 + 500Q + 16000). How manyRead More

SAMPLE PROBLEMS IN BUSINESS MATHEMATICS (1)

Applied Mathematics

On 18/03/2022

TOTAL COST (TC) Total cost is all the cost of producing a certain amount of products, including fixed costs (FC) and variable costs (VC). TC = FC + VC FIXED COST (FC) Fixed cost is the costs a firm incursRead More