A company that manufactures running shoes has a fixed monthly cost of $300,000. It costs $30 to
Question:
A company that manufactures running shoes has a fixed monthly cost of $300,000. It costs $30 to produce each pair of shoes.
a. Write the cost function, C, of producing x pairs of shoes.
b. Write the average cost function, C̅ of producing x pairs of shoes.
c.
d. What is the horizontal asymptote for the graph of the average cost function,C̅? Describe what this represents for the company.
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