The cost , in dollars, of producing units of a certain item is given by the equation . Which of the following statements best describes the minimum cost of production and the number of units that must be produced to achieve this minimum cost?
The minimum cost is $20, and it occurs when 150 units are produced.
The minimum cost is $150, and it occurs when 20 units are produced.
The minimum cost is $3, and it occurs when 20 units are produced.
The maximum cost is $150, and it occurs when 20 units are produced.
