1. Assume the cost of making 30 belts is $800, the cost of making 35 $910, and the cost equation is linear. The belts are sold for $27 each. (a) Find the marginal cost of production. b) Find a linear equation in slope-intercept form that will represen he total cost of making x belts. What is the fixed cost?

1. Assume the cost of making 30 belts is $800, the cost of making 35 $910, and the cost equation is linear. The belts are sold for $27 each. (a) Find the marginal cost of production. b) Find a linear equation in slope-intercept form that will represen he total cost of making x belts. What is the fixed cost?

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter12: The Cost Of Production

Section: Chapter Questions

Problem 4CQQ

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