Posted by Bob on Thursday, November 4, 2010 at 9:13pm.
Since the base is square, and the volume is constant, there is only one variable, such as the side of the base, x.
The height is therefore h=V/x².
The cost of the base is
Cb=C1*x²
Cost of the four sides is
Cs=C2*(4x*h)
Cost of the cover is
Cc=C3*x²
Total cost as a function of x
C(x)= C1*x²+C2*(4x*V/x²)+C3*x²
=(C1+C3)x²+ 4C2*V/x
Differentiate with respect to x and equation f'(x) to zero. Solve for x0 where the cost is maximum/minimum.
To find out if f(x0) is a maximum or minimum, calculate the second derivative and evaluate f"(x0). If f"(x0)>0, f(x0) is a minimum. If f"(x0)<0, f(x0) is a maximum.
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