You can
put this solution on YOUR website!Since the "total cost increases by $3 for each additional unit made", this means that the slope is
. Also, because C(1,000) = 30,000 , this means that we have the point (1000,30000).
So let's find the equation of the line that has a slope of 3 and goes through the point (1000,30000)
If you want to find the equation of line with a given a slope of
which goes through the point (1000,30000), you can simply use the point-slope formula to find the equation:
---Point-Slope Formula---
where
is the slope, and
)
is the given point
So lets use the Point-Slope Formula to find the equation of the line
Plug in
,
, and
(these values are given)
Distribute
Multiply
and
to get
Add 30000 to both sides to isolate y
Combine like terms
and
to get
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Answer:
So the equation of the line with a slope of
which goes through the point (1000,30000) is:
which is now in
form where the slope is
and the y-intercept is
So in function notation, the cost function is
. So you are correct.
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