Calculus with Applications (10th Edition)

Published by Pearson
ISBN 10: 0321749006
ISBN 13: 978-0-32174-900-0

Chapter 1 - Linear Functions - 1.2 Linear Functions and Applications - 1.2 Exercises: 15

Answer

Please see "work step by step" for explanation.

Work Step by Step

Fixed cost is a constant money value . It is not affected by the number of produced items. Marginal cost is the rate of change of cost as the number of produced items change. It is equal to the slope of the cost function at a specific number of produced items. It (also) approximates the cost of producing one additional item.
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