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MBA, Ph.D in Management
Harvard university
Feb-1997 - Aug-2003
Professor
Strayer University
Jan-2007 - Present
Homework: 5e. Suppose that the monthly cost, in dollars, to produce 11 hicycles is given by:
C(x} - I.I'.}|t2l1:i:3 — {11163:2 + 16.1: + 55D. Currently 225 bicycles are produced per month.
These bicycles are sold to shops for $19fl.flfl each.
a. What is the marginal cost at the flfi-hicycle production level? b. Interpret the meaning of this number in the context of this problem. c. What is the currently monthly cost? d. What oron he the additional monthly cost of increasing monthly production
to 22E bicycles? e. How good is your estimate in part (a)? 1'. Estimate the marginal cost at the ITS-bicycle level. 3. What is learned from this calculation?
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