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The average cost to produce 10,000 units is $88, and the average cost to produce 15,000 units is $84.
a)Develop a cost function for this cost.
b)Estimate the average cost to produce 18,000 units.
Monetary Award
A sum of money granted to an individual or organization as a recognition of achievement, a form of settlement, or as compensation for damages.
Profits
The financial gain obtained when the revenue generated from business activities exceeds the expenses, costs, and taxes needed to sustain the activity.
Deregulation
The removal or reduction of government restrictions and regulations in an industry to encourage increased competition.
Reduced Prices
The offering of goods and services at lower rates than originally marked, often to clear inventory or boost sales.
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