Total cost is C = 8500 + 4.65q and total revenue is R = 5.15q, both in
Question:
Total cost is C = 8500 + 4.65q and total revenue is R = 5.15q, both in dollars, where q represents the quantity produced.
(a) What is the fixed cost?
(b) What is the marginal cost per item?
(c) What is the price at which this item is sold?
(d) For what production levels does this company make a profit?
(e) How much does the company make for each additional unit sold?
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Step by Step Answer:
a The fixed cost is 8500 b The marginal cost per item is 465 c The price per item is 51...View the full answer
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Related Book For 
Applied Calculus
ISBN: 9781119275565
6th Edition
Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale
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