A Manufacturer of a Product Has a Marginal Cost Function

question 72

Multiple Choice

A manufacturer of a product has a marginal cost function given by where c is the total cost (in dollars) of producing q units of a product.If fixed costs are $30,000,then the total cost of producing 30 units is

• A) $66,600.
• B) $66,700.
• C) $66,800.
• D) $66,900.
• E) $67,000.

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Definitions:

Annually Compounded

Interest on an investment that is calculated once per year, adding the interest earned to the principal amount for future interest calculations.

40-year Period

A time frame lasting 40 years, often referred to in the context of investments or financial planning.

Additional Money

Refers to extra funds added to an individual's or organization's budget or financial resources.

Same Amount

A situation where a particular value or quantity remains unchanged across different instances or over time.