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Assume that the situation can be expressed as a linear cost function. find the cost function. fixed cost is $300; 80 items cost $2,700 to produce.

Respuesta :

CintiaSalazar

Considering the definition of linear equation, the cost function is Cost=300 + 30× number of items produced.

Linear equation

A linear equation o line can be expressed in the form y = mx + b

where

  • x and y are coordinates of a point.
  • m is the slope.
  • b is the ordinate to the origin and represents the coordinate of the point where the line crosses the y axis.

Cost function

In this case, you know:

  • fixed cost is $300.
  • 80 items cost $2,700 to produce.

The cost function is:

Cost=300 + production cost of each item× number of items produced

Substituting the corresponding values:

2700= 300 + production cost of each item× 80

Solving:

2700 - 300= production cost of each item× 80

2700 - 300= production cost of each item× 80

2400= production cost of each item× 80

2400÷ 80= production cost of each item

30= production cost of each item

Finally, the cost function is Cost=300 + 30× number of items produced.

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