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A linear cost function is C(x) = 9x + 250. (Assume C is measured in dollars.) (a) What are the slope and the C-intercept? slope C-intercept (b) What is the marginal cost MC? MC = What does the marginal cost mean? Each additional unit produced reduces the cost by this much (in dollars). If production is increased by this many units, the cost decreases by $1. If production is increased by this many units, the cost increases by $1. Each additional unit produced costs this much (in dollars). (c) What are the fixed costs? (d) How are your answers to parts (a), (b), and (c) related? C-intercept marginal cost slope slope marginal cost, and C-intercept = fixed costs slope = fixed costs, and C-intercept = marginal cost slope C-intercept = = marginal cost (e) What is the cost of producing one more item if 50 are currently being produced? What is the cost of producing one more item if 100 are currently being produced?

A linear cost function is C(x) = 9x + 250. (Assume C is measured in dollars.) (a) What are the slope and the C-intercept? slope C-intercept (b) What is the marginal cost MC? MC = What does the marginal cost mean? Each additional unit produced reduces the cost by this much (in dollars). If production is increased by this many units, the cost decreases by $1. If production is increased by this many units, the cost increases by $1. Each additional unit produced costs this much (in dollars). (c) What are the fixed costs? (d) How are your answers to parts (a), (b), and (c) related? C-intercept marginal cost slope slope marginal cost, and C-intercept = fixed costs slope = fixed costs, and C-intercept = marginal cost slope C-intercept = = marginal cost (e) What is the cost of producing one more item if 50 are currently being produced? What is the cost of producing one more item if 100 are currently being produced?

Algebra and Trigonometry (6th Edition)
Algebra and Trigonometry (6th Edition)
6th Edition
ISBN:9780134463216
Author:Robert F. Blitzer
Publisher:Robert F. Blitzer
ChapterP: Prerequisites: Fundamental Concepts Of Algebra
Section: Chapter Questions
Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...
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A linear cost function is C(x) = 9x + 250. (Assume C is measured in dollars.) (a) What are the slope and the C-intercept? slope C-intercept (b) What is the marginal cost MC? MC = What does the marginal cost mean? Each additional unit produced reduces the cost by this much (in dollars). O If production is increased by this many units, the cost decreases by $1. O If production is increased by this many units, the cost increases by $1. Each additional unit produced costs this much (in dollars). (c) What are the fixed costs? (d) How are your answers to parts (a), (b), and (c) related? C-intercept marginal cost slope = = slope marginal cost, and C-intercept O slope = fixed costs, and C-intercept = marginal cost slope C-intercept = marginal cost = fixed costs (e) What is the cost of producing one more item if 50 are currently being produced? $ What is the cost of producing one more item if 100 are currently being produced? $
Transcribed Image Text:A linear cost function is C(x) = 9x + 250. (Assume C is measured in dollars.) (a) What are the slope and the C-intercept? slope C-intercept (b) What is the marginal cost MC? MC = What does the marginal cost mean? Each additional unit produced reduces the cost by this much (in dollars). O If production is increased by this many units, the cost decreases by $1. O If production is increased by this many units, the cost increases by $1. Each additional unit produced costs this much (in dollars). (c) What are the fixed costs? (d) How are your answers to parts (a), (b), and (c) related? C-intercept marginal cost slope = = slope marginal cost, and C-intercept O slope = fixed costs, and C-intercept = marginal cost slope C-intercept = marginal cost = fixed costs (e) What is the cost of producing one more item if 50 are currently being produced? $ What is the cost of producing one more item if 100 are currently being produced? $
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