Step by step please

7. [1/7 Points] Your company is planning to air a number of television commercials during the ABC Television Network's presentation of the Academy Awards. ABC is charging your company a variable cost of 1,600,000x-70,000yx dollars for x 30-second television spots. Additional fixed costs (development and personnel costs) amount to $500,000. (a) Write down the cost function C, marginal cost function C', and average cost function C. C(x) = 1600000x - 70,000 v x + 500000 C' ( x ) = X C ( x ) = X (b) Compute C'(3) and C(3). (Round all answers to the nearest $10,000.) C'(3) = X dollars per spot C ( 3 ) = X dollars per spot (c) Fill in the blanks: Since the marginal cost is -Select----- vox|the average cost per unit, increasing the number of advertising spots up from 3 will cause the average cost per spot to Select-- X