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The table shows the marginal cost for a company's product at various production levels. ( a ) Estimate the cost ( not including fixed costs
The table shows the marginal cost for a company's product at various production levels.
a Estimate the cost not including fixed costs to produce the first units by considering batches of units. Use the initial marginal cost for each batch in your calculations.
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b Use batches of units and the ending marginal cost for Consider the graph.
Is your estimate higher or lower than the actual area?
Is your estimate higher or lower than the actual area?
c Find a new estimate using right endpoints with eight rectangles. A sketch of the rectangles is given.each batch to estimate the cost of raising the production level from to units.
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