Question
The Copy Center specializes in high-volume printing and color copying for small businesses. This is a fiercely competitive market. The following relation exists between
The Copy Center specializes in high-volume printing and color copying for small businesses. This is a fiercely competitive market. The following relation exists between output and total production costs: Total Output 0 10,000 20,000 30,000 40,000 50,000 60,000 70,000 $ Total Cost 500 3,500 7,500 12,500 18,500 25,500 Marginal Cost 33,500 45,000 A. Construct a table showing the marginal cost of production. (10pts) 3. What is the minimum price necessary for the company to supply twenty thousand copies? (5pts) C. How many copies would the company supply at industry prices of $7,500 per ten thousand? (5pts)
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