Economics—Marginal Analysis: The GlobalText Company makes social media–oriented mobile phones apps and determines that the fixed and variable costs to produce x apps are $1200 and $12 per app, respectively.
(a) Write the cost function C in the form C(x) = mx + b.
(b) Determine the marginal cost function MC and then evaluate MC(100) and MC(150) and interpret these results.
(c) Why are the marginal costs in part (b) equal?
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