It costs a coat manufacturer $8750 to make 125 coats and it costs $6500 to make 80 coats. Each coat is sold for $250. a. How much is the marginal cost? Round to two decimal places if rounding is necessary. Do not enter a fraction. There is a $ sign next to the answer box, so do not type a $ sign in your answer. Only type a number (do not type any units on your answer). $ b. What is the slope of the Profit function, P(x)? Round to two decimal places if rounding is necessary. Do not enter a fraction. There is a $ sign next to the answer box, so do not type a $ sign in your answer. Only type a number (do not type any units on your answer). $ c. How many coats must be sold in order to break even? Round to the nearest whole number if rounding is necessary. Do not enter a fraction. Only type a whole number (do not type any units on your answer). It costs a coat manufacturer $8750 to make 125 coats and it costs $6500 to make 80 coats. Each coat is sold for $250.a. How much is the marginal cost? Round to two decimal places if rounding is necessary. Do not enter a fraction. There isa $ sign next to the answer box, so do not type a $ sign in your answer. Only type a number (do not type any units on youranswer).$b. What is the slope of the Profit function, P(x)? Round to two decimal places if rounding is necessary. Do not enter afraction. There is a $ sign next to the answer box, so do not type a $ sign in your answer. Only type a number (do not typeany units on your answer).$c. How many coats must be sold in order to break even? Round to the nearest whole number if rounding is necessary. Donot enter a fraction. Only type a whole number (do not type any units on your answer).coats

Answered: It costs a coat manufacturer $8750 to…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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It costs a coat manufacturer $8750 to make 125 coats and it costs $6500 to make 80 coats. Each coat is sold for $250.

     a. How much is the marginal cost? Round to two decimal places if rounding is necessary. Do not enter a fraction. There is a $ sign next to the answer box, so do not type a $ sign in your answer. Only type a number (do not type any units on your answer).

     $

     b. What is the slope of the Profit function, P(x)? Round to two decimal places if rounding is necessary. Do not enter a fraction. There is a $ sign next to the answer box, so do not type a $ sign in your answer. Only type a number (do not type any units on your answer).

     $

     c. How many coats must be sold in order to break even? Round to the nearest whole number if rounding is necessary. Do not enter a fraction. Only type a whole number (do not type any units on your answer).

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