Question
Given the data below answer the questions. Marginal cost Marginal cost Units ($/unit) Units ($/unit) 0 3.22 7000 2.16 1000 2.88 8000 2.15 2000 2.79
Given the data below answer the questions.
Marginal cost Marginal cost Units ($/unit) Units ($/unit) 0 3.22 7000 2.16 1000 2.88 8000 2.15 2000 2.79 9000 2.17 3000 2.72 10,000 2.21 4000 2.57 11,000 2.39 5000 2.47 12,000 6000 2.28 13,000 2.68 2.83 (a) Estimate the cost (not including fixed costs) to produce the first 12,000 units by considering batches of 2000 units. Use the initial marginal cost for each batch in your calculations. $ X (b) Use batches of 1000 units and the ending marginal cost for each batch to estimate the cost of raising the production level from 4000 to 11,000 units. $ Additional Materials
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Introductory Statistics
Authors: Prem S. Mann
8th Edition
9781118473986, 470904100, 1118473981, 978-0470904107
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