Question 10 3 pts Cost Analysis A small machine shop manufactures drill bits used in the petroleum industry. The manager estimates that the total daily cost (in dollars) of producing X bits is the cost function ... C(X) = 1600 +0.2X2 where X is the number of bits produced and $1600 is the daily fixed cost and $0.2X is the variable cost per unit. The manager has set a production goal to produce the number of bits per day which will keep the average cost per bit as low as possible. Find the minimum average cost per unit. (Round your answer to 2 decimal places, if necessary)