8. Given the following cost function: C(x)= 7.8x+350,000 a. What is the fixed cost? b....
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8. Given the following cost function: C(x)= 7.8x+350,000 a. What is the fixed cost? b. What is the marginal cost per item? c. What is total cost of producing 45,000 items? d. What is the average cost per item when 45,000 items are produced? e. What is the profit of producing 45,000 items if each item cost $30?
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