How to Find Cost-minimizing Input with GeoGebra

Use GeoGebra to find the optimum level of production that minimizes the production costs of a business.

GeoGebra Instruction 1

1.
Open Algebra View and Graphics View under GeoGebra icon View in GeoGebra icon Menu.
2.
Enter the cost function in Algebra View by typing C = <cost function> and pressing Enter.
3.
Enter the unit cost function in Algebra View by typing U = Expand(C/x) and pressing Enter.
4.
Enter C’ in Algebra View and press Enter.
5.
To view only C(x) and U(x) in Graphics View, tap the dot in front of C(x). The graph of C(x) is hidden when it is unchecked.
6.
In order to find the points of intersection between U(x) and C(x), press Intersect GeoGebra icon in Toolbar and then click on the graphs of U(x) and C(x).
7.
The x-coordinate of the intersection point A is the cost-optimal production level.

Screenshot of GeoGebra showing the intersection of U(x) and C’(x)

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