The Cost Function for a Certain Model of a Digital $C = 12.00 x + 48,450$

question 115

Multiple Choice

The cost function for a certain model of a digital camera given by $C = 12.00 x + 48,450$ , where $C$ is the cost (in dollars) and $x$ is the number of cameras produced. Find the average cost per unit when $x = 100$ . Round your answer to the nearest cent.

• A) \(\$ 49,650.00\)
• B) \(\$ 484.50\)
• C) \(\$ 12.00\)
• D) \(\$ 496.50\)
• E) \(\$ 484.62\)

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Definitions:

Ease of Entry

Ease of entry refers to the lack of barriers for new firms to enter and compete in an industry or market, impacting competition and market dynamics.

Marginal Revenue

The supplementary income derived from the sale of one extra product or service unit.

Perfect Competition

A market setup where numerous small companies, offering indistinguishable products and having the freedom to enter or exit the market, results in firms accepting the market price without influencing it.

Equal to Price

Equal to price refers to a situation where a particular value, cost, or measure is identical to the price level of a good or service, indicating a direct correlation between the two.