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QUESTION 1 THE FOLLOWING INFORMATION IS USED FOR QUESTIONS 1 - 12. Test Company derived the following cost function for the production of its

QUESTION 1 THE FOLLOWING INFORMATION IS USED FOR QUESTIONS 1 - 12. Test Company derived the following cost function for the production of its product. Cost $16,000+ $10X, where x is the number of units. Next month, Test Company expects to produce 5,000 units. Determine the total cost to produce 5,000 units. Note: Give your answer using dollar signs and commas but no decimal points (cents). Example: $12,345 +

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