A linear cost function is C(xJ = 5x + 500. [Assume C is measured in dollars.) (a) What are the slope and the C-intercept? i slope i C-intercept {ti} What is the marginal cost E? MC=i | What does the marginal cost mean? 0 Each additional uhit produced reduces the cost by this much {In dollars}. C) If production is increased by this many units, the cost decreases by $1. 0 If production is increased by this many units, the cost increases by $1. 0 Each additional unit produced costs this much (in dollars). {c} What are the fixed costs? $ 1 {cl} HOW are your answers to parts {a}, (In), and (c) related? 0 slope = fixed costs, and C-interceot = marginal Cost dope = marginal cost Cintemept O slope = marginal cost, and III-intercept = xed costs Cinterce pt = marginal cost dope {e} What is the cost of producing one more item if 50 are currently being produced? I' $ 4 What is the cost of producing one more item if IUD are currently being produced? $C_]