A company is planning to manufacture wheelchairs that are light, fast, and beautiful. Fixed monthly cost will be $500,000 and it will cost $400 to produce each radically innovative chair. a. Write the cost function, C, of producing x wheelchairs. b. Write the average cost function, C, of producing x wheelchairs. c. How many wheelchairs must be produced each month for the company to reach an average cost of $450 per chair?

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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A company is planning to manufacture wheelchairs that are
light, fast, and beautiful. Fixed monthly cost will be $500,000 and it will cost $400 to
produce each radically innovative chair.
a. Write the cost function, C, of producing x wheelchairs.
b. Write the average cost function, C, of producing x wheelchairs.
c. How many wheelchairs must be produced each month for the company to reach
an average cost of $450 per chair?
Transcribed Image Text:A company is planning to manufacture wheelchairs that are light, fast, and beautiful. Fixed monthly cost will be $500,000 and it will cost $400 to produce each radically innovative chair. a. Write the cost function, C, of producing x wheelchairs. b. Write the average cost function, C, of producing x wheelchairs. c. How many wheelchairs must be produced each month for the company to reach an average cost of $450 per chair?
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