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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 ViewandGraphics Viewunder
Viewin
Menu. - 2.
- Enter the cost function in
Algebra Viewby typingC = <cost function>and pressingEnter. - 3.
- Enter the unit cost function in
Algebra Viewby typingU = Expand(C/x)and pressingEnter. - 4.
- Enter
C’inAlgebra Viewand pressEnter. - 5.
- To view only and in
Graphics View, tap the dot in front of . The graph of is hidden when it is unchecked. - 6.
- In order to find the points of intersection between and , press
Intersect
in Toolbarand then click on the graphs of and . - 7.
- The -coordinate of the intersection point is the cost-optimal production level.
