The graph of a company's total cost function is shown. For each problem, use the graph to answer the following questions.
(a) Will the 101st item or the 501st item cost more to produce? Explain.
(b) Does this total cost function represent a manufacturing process that is getting more efficient or less efficient? Explain.
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Transcribed Image Text:

C(x) 40,000 30,000 20,000 10,000 + 200 400 600 Units Dollars C(x) 30,000 10,000 х 200 400 Units Dollars