The cost function for manufacturing electric drills is estimated to be: C(x) = 2x - 5x...
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The cost function for manufacturing electric drills is estimated to be: C(x) = 2x - 5x + 338. Where C(x) is in dollars, and x is drills manufactured per hour. The average cost function is defined by AC = C(X) (a) Find the average cost function. AC = (b) What is the average cost (to the nearest penny) of producing 5 drills per hour? per drill. (c) What is the average cost (to the nearest penny) of producing 12 drills per hour? $ (d) Using Excel, find the number of drills per hour that should be produced to minimize average cost. drills per hour (e) What is the minimum average cost to the nearest penny? $ per drill per drill The cost function for manufacturing electric drills is estimated to be: C(x) = 2x - 5x + 338. Where C(x) is in dollars, and x is drills manufactured per hour. The average cost function is defined by AC = C(X) (a) Find the average cost function. AC = (b) What is the average cost (to the nearest penny) of producing 5 drills per hour? per drill. (c) What is the average cost (to the nearest penny) of producing 12 drills per hour? $ (d) Using Excel, find the number of drills per hour that should be produced to minimize average cost. drills per hour (e) What is the minimum average cost to the nearest penny? $ per drill per drill
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Answer rating: 100% (QA)
a To find the average cost function AC we divide the cost function Cx by the quantity x ACx Cx x Giv... View the full answer
Related Book For
Cost Management Accounting and Control
ISBN: 978-0324559675
6th Edition
Authors: Don R. Hansen, Maryanne M. Mowen, Liming Guan
Posted Date:
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