Business, 24.09.2020 08:01 linseyamaker2961

A linear cost function is C(x) = 4x + 600. (Assume C is measured in dollars.) (a) What are the slope and the C-intercept? slope 4 Correct: Your answer is correct. C-intercept 600 Correct: Your answer is correct. (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? slope = fixed costs, and C-intercept = marginal cost slope C-intercept = marginal cost slope = marginal cost, and C-intercept = fixed costs C-intercept slope = 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? $

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A linear cost function is C(x) = 4x + 600. (Assume C is measured in dollars.) (a) What are the slope...

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