The Graph of a Company's Total Cost Function Is Shown

question 197

Multiple Choice

The graph of a company's total cost function is shown. Does this total cost function represent a manufacturing process that is getting more efficient or less efficient as the production level increases? ​ ​

• A)less efficient
• B)more efficient

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Definitions:

Simplify

The process of altering an expression to make it easier to understand or work with, often by reducing it to its simplest form.

Simplify

The process of reducing an expression to its simplest form, making it easier to understand or solve.

\(8^x\cdot 8^{x-1}\)

An expression that can be simplified to \(8^{2x-1}\) using the properties of exponents.

\(10,000(1.07)^{4t}\)

An exponential growth equation, where \(10,000\) is the initial quantity and \(1.07\) is the growth factor applied every period \(t\), scaled by a factor of 4.