Glorious Gadgets is a retailer of astronomy equipment. They
purchase equipment from a supplier and then sell it to customers in
their store. The function C(x)=4x+12000x^-1+4000 models their total
inventory costs (in dollars) as a function of xx the lot size for
each of their orders from the supplier. The inventory costs include
such things as purchasing, processing, shipping, and storing the
equipment.
What lot size should Glorious Gadgets order to minimize their total
inventory costs? (NOTE: your answer must be the whole number that
corresponds to the lowest cost.)
What is their minimum total inventory cost? $
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