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According to a statistical study the following relationship exists between an electric power plant s fuel costs C and its eight hour output as a percentage of capacity

According to a statistical study, the following relationship exists between an electric power plant s fuel costs (C) and its eight- hour output as a percentage of capacity (Q): C = 16.68 + 0.125Q + 0.00439Q2 a. When Q increases from 50 to 51, what is the increase in the cost of fuel for this electric plant? b. Of what use might the result in part (a) be to the plant s managers? c. Derive the marginal (fuel) cost curve for this plant, and indicate how it might be used by the plant s managers.

Jun 24 2020 View more View Less

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