A marginal cost fiction C'(q) is given in the figure below. If the fixed costs are $10,000, estimate: a) the total cost to produce 20 units (use left and right hand sums) b) the additional cost if the company increased production from 20 to 40 units

A marginal cost fiction C'(q) is given in the figure below. If the fixed costs are $10,000, estimate: a) the total cost to produce 20 units (use left and right hand sums) b) the additional cost if the company increased production from 20 to 40 units

Micro Economics For Today

10th Edition

ISBN:9781337613064

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter7: Proudction Costs

Section: Chapter Questions

Problem 17SQ

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Question

A marginal cost fiction C'(q) is given in the figure below. If the fixed costs are $10,000, estimate:

a) the total cost to produce 20 units (use left and right hand sums)

b) the additional cost if the company increased production from 20 to 40 units

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