If the cost of an imported high-speed assembly-line robot is $80,000 and the in-country cost for one with twice the capacity is $120,000, the value of the exponent in the cost-capacity equation is closest to:
(a) 0.51
(b) 0.58
(c) 0.62
(d) 0.69
120,000 = 80,000(2)^x
log 1.5 = x log 2
0.1761 = 0.31013x
x = 0.585
Answer is (b) 0.58
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