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Kodama Corporation staffs a helpline to answer questions from customers. The costs of operating the helpline are variable with respect to the number of calls in a month. At a volume of 30,000 calls in a month, the costs of operating the helpline total $369,000. To the nearest whole cent, what should be the average cost of operating the helpline per call at a volume of 31,300 calls in a month? (Assume that this call volume is within the relevant range.)
Change in Supply
An alteration in the quantity of a product that producers are willing and able to sell in the market, due to factors like changes in cost of production or technological improvements.
Quantity Supplied
The quantity supplied refers to the amount of a good or service that producers are willing to sell at a given price over a specified period.
Rationing Function
The process by which a scarce resource is distributed among competing users.
Dynamic Pricing
A pricing strategy where prices are adjusted in real-time based on demand, supply, and other market conditions.
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