Microeconomics
Microeconomics
11th Edition
ISBN: 9781260507140
Author: David C. Colander
Publisher: McGraw Hill Education
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Chapter 2.A, Problem 2QE

(a)

To determine

The relationship between cost per unit and output.

(b)

To determine

Direct and inverse relationship between cost per unit and output.

(c)

To determine

Positive and negative slopes of output.

(d)

To determine

The slope of the output is in between 1 and 2 unis.

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A printer quotes a price of $7, 500 for printing 1,000 copies of a book and $15, 000 for printing 2,500 copies.Assuming a linear relationship and that 2000 books are printed:i. Find the equation relating the total cost y to x, the number of books printed.ii. What is the variable cost ?iii. What is the fixed cost ?iv. What is the variable cost per book ?v. What is the average cost per book ?vi. What is the marginal cost of the last book printed ?
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