The cost of producing x units of a product is given by: C(x) = 800 + 120x

Question:

The cost of producing x units of a product is given by:

C(x) = 800 + 120x – 120ln(x), x ≥ 1.

Find the minimum average cost.

Minimum average cost = _____________________

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

See More Books

Question Posted: Jul 29, 2013 12:43 AM

See More Questions

The cost of producing x units of a product during a month is x 1/2 dollars. Show that the minimum-cost method of producing 40 units during the next two months is to produce all 40 units during a...
The cost C (in dollars) of producing x units of a product is given by C = 0.2x2 + 10x + 5 and the average cost per unit C is given by C= C / x = 0.2x2 + 10x + 5 / x, x > 0. Sketch the graph of the...
The cost C (in dollars) of producing x units of a product is given by C = 100,000 + 0.9x and the average cost per unit C is given by C = C / x = 100,000 + 0.9x / x, x>0. (a) Sketch the graph of the...
Integer sort. Write a linear-time filter that reads from standard input a sequence of integers that are between 0 and 99 and prints to standard output the same integers in sorted order. For example,...
Explain how you would use the alkene starting material inEq.6.2 to determine the absolute configuration of the dextrorotatory enantiomer of the following hydrocarbon: Outline the possible results of...
Which technique is best for determining the validity of an ID?
Assume you work for an accounting firm and you are part of a team that does work for two clients that are competitors. Describe some ways in which ethical considerations might be an important part of...
Goliath Corporation issues $300,000 of bonds for $312,000. (a) Prepare the journal entry to record the issuance of the bonds, and (b) Show how the bonds would be reported on the balance sheet at the...
Discuss the concept of sense making and its significance in facilitating sense giving during periods of organizational ambiguity and transformation?
1. What are the advantages and disadvantages of the various alternatives Ruth Diamond is considering? 2. Do you have any other suggestions for improving the stores sales? 3. What would you recommend?...
Lydia is designing an envelope for invitations she made. She plans to use two rectangular pieces with a width of 12cm and a length of 14cm and make the flap a triangle that goes 1/2 of the way down...
Currently 10,000 people take city buses each day and pay $2 dollars for a ticket. The number of people taking city buses at price p dollars per ticket is given x = 5000 6-p a. Evaluate the elasticity...
Studies indicate that the income elasticity of demand for servants in the United States exceeds 1. Nevertheless, the number of servants has been decreasing during the last 75 years, while incomes...
The article "Treadmill Exercise and Resistance Training in Patients With Peripheral Arterial Disease With and Without Intermittent Claudication. A Randomized Controlled Trial" (M. McDermott, P. Ades,...
An ultra-low particulate air filter is used to maintain uniform air flow in production areas in a clean room. In one such room, the mean air velocity should be at least \(40 \mathrm{~cm} /...
A sequential search member function of SortedType has the following prototype: void SortedType::Search(int value, bool& found); 1. Write the function definition as a recursive search, assuming a...
Let $T \sim \Gamma(4,0.5)$. a. Find $\mu_{T}$. b. Find $\sigma_{T}$. c. Find $P(T \leq 1)$. d. Find $P(T \geq 4)$.
A new centrifugal pump is being considered for an application involving the pumping of ammonia. The specification is that the flow rate be more than $5 \mathrm{gal}-$ lons per minute (gpm). In an...
The following are the actual ratios of Gypsy Ltd and the corresponding standards: Ratio Current ratio Liquid ratio Gross profit margin Operating profit margin Net profit margin Creditor payment...
What is the difference between adsorption and absorption?
What is talent management? Bring out the talent management initiatives.
How is the statement of members equity similar to the statement of partners equity?
Josh Beach contributed land, inventory, and $24,000 cash to a partnership. The land had a book value of $65,000 and a market value of $114,000. The inventory had a book value of $60,000 and a market...
Jen Hall contributed a patent, accounts receivable, and $22,000 cash to a partnership. The patent had a book value of $56,000. However, the technology covered by the patent appeared to have...
How do I use voice commands to control my computer with the project of making a video?
Dan Mullen is employed by a mail-order distributor and reconditions used desktop computers, broadband routers, and laser printers. Dan is paid $12 per hour, plus an extra $6 per hour for work in...
Consider two series Yt and Y2t: Y = IIY-1 +6 Or more explicitly as: Aye Aya Yit Elt + Y2t 2t in which = [1, 2]' is IID with E(e) = 0 and E(ee'): [ 0 0 a) Write the system in levels Answer: A-AU-N b)...

The cost of producing x units of a product is given by: C(x) = 800 + 120x

Question:

Step by Step Answer:

Average cost cost number of units 800 120x120 In x Averag...View the full answer

Mathematical Applications for the Management Life and Social Sciences

Students also viewed these Economics questions