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The total cost of producing x units of a certain commodity is given by C(x) = 400 + 20 x Dollars. a. Find the average
The total cost of producing x units of a certain commodity is given by C(x) = 400 + 20 x Dollars. a. Find the average cost function C. b. Find the marginal average cost C. c. Sketch the graph, what is the economic implication of your results(interpretation). The subsidiary of Electra Electronics manufactures a programmable pocket calculator. Management determined that the daily total cost of producing these calculators in dollars is given by C(x) = 0.000x^3 - 0.08x^2 + 40x+5000 Where x stands for the number of calculators produced. a. Find the marginal cost function b. What is the marginal cost when x = 200, 300, 400, and 600? c. Draw the graph and interpret your results. Write the definition of Elasticity Demand, Write the tree cases and draw the graph and label everything on that graph nice and neat
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