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A corporation produces mini-widgets. The variable expenses are $1.24 per mini-widget, and the fixed expenses are $142,900.
a. How much does it cost to produce 1 mini-widget?
b. How much does it cost to produce 20,000 mini-widgets?
c. Express the expense function algebraically.
d. What is the slope of the expense function?
e. If the slope is interpreted as a rate, give the units that would be used. |
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