17 A company is hiring persons to work in its plant. For the job the persons will perform, efficiency experts estimate that the average cost C of performing the task is a function of the number of persons hired x. Specifically, C=f(x) 0.003x2 -0.216 ln x+ 5
17 A company is hiring persons to work in its plant. For the job the persons will perform, efficiency experts estimate that the average cost C of performing the task is a function of the number of persons hired x. Specifically, C=f(x) 0.003x2 -0.216 ln x+ 5
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:17 A company is hiring persons to work in its plant. For the job the persons will perform,
efficiency experts estimate that the average cost C of performing the task is a function of
the number of persons hired x. Specifically,
C=f(x)%3D0.003x2-0.216 ln x+5
(a) Determine the number of persons who should be hired to minimize the average cost.
(b) What is the minimum average cost?
18 A company is hiring neople to Work in its plant For tho inh
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