Question: Fixed, Variable, Average, and Marginal Costs 1: A new machine comes with 300 free service hours over the rst year. Additional time costs $200 per

Fixed, Variable, Average, and Marginal Costs

1: A new machine comes with 300 free service hours over the rst year. Additional time costs $200 per hour. What are the average and marginal costs per hour for the following quantities?

(a) average cost for the first 225 hours of service <2 pts>

Reasoning/Work:

(b) marginal cost for the first 225 hours of service <2 pts>

Reasoning/Work:

(d) marginal cost for the first 350 hours of service <2 pts>

Reasoning/Work:

(e) average cost for the first 500 hours of service <2 pts>

Reasoning/Work:

(f) marginal cost for the first 500 hours of service <2 pts>

Reasoning/Work:

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