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:
Answer rating: 53% (13 reviews)
Average cost cost number of units 800 120x120 In x Averag...View the full answer
Answered By
Wahome Michael
I am a CPA finalist and a graduate in Bachelor of commerce. I am a full time writer with 4 years experience in academic writing (essays, Thesis, dissertation and research). I am also a full time writer which assures you of my quality, deep knowledge of your task requirement and timeliness. Assign me your task and you shall have the best.
Thanks in advance
4.90+
63+ Reviews
132+ Question Solved
Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
Question Posted:
Students also viewed these Economics 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...
-
Taylor Company, with 20 employees, is expanding operations. It is trying to decide whether to hire one full-time employee for $25,000 or two part-time employees for a total of $25,000. Would any of...
-
The reaction \(A(\mathrm{l}) ightarrow R(\mathrm{~g})\) is allowed to reach equilibrium condition in an autoclave. At equilibrium there are two phases - one a pure liquid phase of \(A\) and the other...
-
Given the time-phased work packages and network, complete the baseline budget form for theproject. Market Survey Project WBS Work Package Cost by Week WP Design 4 5 2 WP Survey 2244 4 5 WP Report 3 3...
-
Julie paid a day care center to watch her two-year-old son while she worked as a computer programmer for a local start-up company. What amount of child and dependent care credit can Julie claim in...
-
Nashville Pro Hockey, LLC,was a limited liability company organized under the laws of Tennessee. The LLC owned and operated the Nashville Nighthawks, a minor-league professional hockey team. On...
-
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...
-
Why is the direct write-off method not GAAP?
-
The marketing team at XYZ Company always prioritizes their customers above everything. They create products very thoughtfully to meet what the customers need and make sure customers are happy. At XYZ...
-
Tess is offering an online cooking website called Custom Cooks, complete with how-to videos showing Tess preparing special entrees and desserts. Tess will also give subscribers her recipes and answer...
-
Frito-Lay sells a wide range of products, such as Lay's and Ruffles potato chips, Doritos tortilla chips, Tostitos tortilla chips and dips, and Cheetos. Its audience includes families with children...
-
Examine the interplay and distinctions between power, leadership, and authority in criminal justice organizations and analyze the impact they have on the overall effectiveness and efficiency of the...
-
If you make quarterly payments of $330.00 into an ordinary annuity earning an annual interest rate of 4.89%, how much will be in the account after 3 years? $ 1
-
What three approaches can be used to price exported products?
-
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...
-
Two point charges, -2.4C and 5.616 C, are placed at x = 0 cm and x = 9.7 cm, respectively. Consider the x- axis directed to the right. 1.0p 8a At what point along the x axis is the electric field...
-
As you know, the value of. It is defined as the ratio of the circumference of a circle C divided by its diameter 2r. That is x-C/2. a) Let's assume that you measured a circumference of a circle to be...
-
Figure 3 presents a network where N users are sharing a link of 1 Mbps bandwidth. Users are generating data at a rate of 100 kbps when busy, but are busy generating data only with probability p=0.1....
Study smarter with the SolutionInn App