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Q 3 Altawfik Corporation is estimating the cost function for total cost of production of product A using the two points method. The data collected
Q 3 Altawfik Corporation is estimating the cost function for total cost of production of product A using the two points method. The data collected for the past year is as following:
Number of units Total
Quarter produced Costs
1 4,000 $ 1,000
2 5,400 1,280
3 7,000 1,600
4 9,000 2,000
Using the two points methods, choose two points with which you estimate the cost function.
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