Survey Of Economics
Survey Of Economics
10th Edition
ISBN: 9781337111522
Author: Tucker, Irvin B.
Publisher: Cengage,
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Chapter 6, Problem 21SQ
To determine

 The average total cost of producing 5 pizzas.

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The total cost equation for producing X widgets is given by TC = $1,000 + $6X. The marginal cost per widget at a production level of 300 units is closest to which of the following? a. $2,800  b. $6  c. $8  d. $4,000.
A company is planning to manufacture mountain bikes. Fixed monthly cost will be $100,000 and it will cost $100 to produce each bicycle. a. Write the cost function, C, of producing x mountain bikes. b. Write the average cost function, C, of producing x mountain bikes. c. How many mountain bikes must be produced each month for the company to have an average cost of $300 per bike?
A firm is producing 20 units with an average total cost of $25 and marginal cost of $15. If it were to increase production to 21 units. Find the total cost?
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