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Consider the following cost function. a. Find the average cost and marginal cost functions. b. Determine the average and marginal cost when x- al c.

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Consider the following cost function. a. Find the average cost and marginal cost functions. b. Determine the average and marginal cost when x- al c. Interpret the values obtained in part (b). C(x)= 1900 +0.5x, 0 sxs 5000, a =2900 a. The average cost function is C()= The marginal cost function is C'(x) = b. The average cost when x= 2900 is $ (Round to two decimal places as needed.) The marginal cost when x= 2900 is $ per item. (Round to two decimal places as needed.) c. The average cost per item is about $ when items are produced. (Round to two decimal places as needed.) The cost of producing the 2901st item is $ (Round to two decimal places as needed.)

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