(3) A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500 per day when producing 15 sinks. The company has a daily demand function of q = 360 – p. where q is the number if laundry sinks demanded and p is te price of a laundry sink. (a) If we assume that the total cost per day is linearly related to the amount of sinks produced in a day, derive the total cost function of the company? (b) Find a function for the average cost of this company. (c) If production increases continuously, what is likely to be the average cost per sink?

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Q: (3) A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of…

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Q: (3) A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of…

A: a) Given that, the fixed cost is $100 and the production total cost for 15 sinks is $2,500. And also…

Q: A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500…

A: Given that, "Fixed costs = 15 sinks, Total costs = $2,500, Demand function q = 360-p, where q is the…

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Q: (3) A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of…

A: Consider the given: Fixed cost = $100Production total cost for 15 sinks = $2500Total variable cost =…

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Q: A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500…

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