The minimum possible cost of the graph showing the the cost per item is $20000 which is option c.
What is cost?
Cost is the amount of expenditure that a manufacturer done in order to make a product. The cost of the product includes fixed cost as well as variable cost.
How to find minimum cost?
We have been given a graph and we have to find the minimum possible cost of production. From the graph we can find that the lowest point of the graph (1000,20).
Total cost=number of items* cost per item.
Minimum possible cost=1000*20
=$20000
Hence the minimum possible cost is $20000.
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