Twaomin Ltd is hiring persons to work in its plant. For the kind of job available, it has been estimated by efficiency experts that the average cost, AC of performing the task is a function of the number of persons hired, x. Specifically, AC= 0.00005x² – In 2x + 6 Required: (i) Determine the number of persons who should be hired to minimize the average cost. Ensure it is minimum (ii) What is the minimum average cost? (iii) What is the minimum total cost?

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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QUESTION THREE
Twaomin Ltd is hiring persons to work in its plant. For the kind of job available, it
has been estimated by efficiency experts that the average cost, AC of performing
the task is a function of the number of persons hired, x. Specifically,
AC= 0.00005x2 – In 2x + 6
Required:
(i)
Determine the number of persons who should be hired to minimize the
average cost. Ensure it is minimum
(ii)
What is the minimum average cost?
(iii) What is the minimum total cost?
Transcribed Image Text:QUESTION THREE Twaomin Ltd is hiring persons to work in its plant. For the kind of job available, it has been estimated by efficiency experts that the average cost, AC of performing the task is a function of the number of persons hired, x. Specifically, AC= 0.00005x2 – In 2x + 6 Required: (i) Determine the number of persons who should be hired to minimize the average cost. Ensure it is minimum (ii) What is the minimum average cost? (iii) What is the minimum total cost?
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