A marginal cost function C(q) is given in Figure 5.66. If the fixed costs are $10,000
Chapter 5, Problem 5(choose chapter or problem)
A marginal cost function C(q) is given in Figure 5.66. If the fixed costs are $10,000, estimate: (a) The total cost to produce 30 units. (b) The additional cost if the company increases production from 30 units to 40 units. (c) The value of C(25). Interpret your answer in terms of costs of production. 10 20 30 40 50 60 0 10 20 30 40 50 C(q) q (quantity) $/unit Figure 5.66
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