Round to Two Decimal Places Unless Otherwise Indicated $\frac { 900} { x+30^{\prime} }$

question 448

Multiple Choice

Round to two decimal places unless otherwise indicated.
If the average cost per unit C(x) to produce x units of plywood is given by C(x) , what is the
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C ( x ) = $\frac { 900} { x+30^{\prime} }$
unit cost for 20 units?

• A) $45.00
• B) $1.50
• C) $18.00
• D) $15.00

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Definitions:

Excise Tax

A direct tax placed on manufactured goods, and is often levied at the time of manufacture, rather than at sale.

Inelastic Supply

A market condition where the quantity supplied of a good does not change significantly when its price changes.

Inelastic Demand

The case in which the price elasticity of demand is less than 1.

FICA

FICA stands for the Federal Insurance Contributions Act and is a United States federal payroll tax that funds Social Security and Medicare programs.