Suppose a company manufactures MP3 players and sells them to retailers for $98 each. It has fixed costs of $262,500 related to the production of the MP3 players, and the cost per unit for production is $23. What is the marginal cost for this product? Is the marginal cost equal to the variable cost or the fixed cost

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A: To find the total cost function.

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A:

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A: Please see the explanation below

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A:

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