Question: Please answer FULL question . A-D A linear cost function is C(x) = 5x + 150. (Assume C is measured in dollars.) What are the
A linear cost function is C(x) = 5x + 150. (Assume C is measured in dollars.) What are the slope and the C-intercept? What is the marginal cost MC? What does the marginal cost mean? Each additional unit produced costs this much (in dollars). If production is increased by this many units, the cost increases by $1. Each additional unit produced reduces the cost by this much (in dollars). If production is increased by this many units, the cost decreases by $1. How are your answers to parts (a) and (b) related? slope = marginal cost, and C-intercept = fixed costs slope = fixed costs, and C-intercept = marginal cost what is the cost of producing one more Item If 50 are currently being produced? What is the cost of producing one more item if 100 are currently being produced
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