Asked by Blare

The cost of producing x units of a product is given by C(x)=700+ 80x - 80ln(x), x is greater or equal to 1. Find the minimum average cost.
Answered by mathhelper
C ' (x) = 80 - 80(1/x) = 0 for a min

80 = 80/x
1 = 1/x
x = 1

state the conclusion
Answered by oobleck
the average cost is C(x)/x = 700/x + 80 - 80lnx/x
C'(x) = 20/x^2 (4lnx - 39)
C' = 0 at x = e^(39/4) ≈ 17154
C(17154) = 80
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