# SOLUTION: The cost of producing a number of items x is given by C=mx+b, in which b is the fixed cost and m is the variable cost (the cost of producing one more item). (a). If the fixed cost

Algebra ->  Algebra  -> Linear-equations -> SOLUTION: The cost of producing a number of items x is given by C=mx+b, in which b is the fixed cost and m is the variable cost (the cost of producing one more item). (a). If the fixed cost      Log On

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 Click here to see ALL problems on Linear-equations Question 114462: The cost of producing a number of items x is given by C=mx+b, in which b is the fixed cost and m is the variable cost (the cost of producing one more item). (a). If the fixed cost is \$40 and the variable cost is \$10, write the cost equation. (b). Graph the cost equation. I am really lost on how to figure this out, I would so appreciate some help. Thank You, Barb NeelyAnswer by bucky(2189)   (Show Source): You can put this solution on YOUR website!You are given that the Cost equation is C(x) = mx + b . Furthermore you are told that b is the fixed cost and it is \$40 . Substitute this into the cost equation for b and the Cost equation becomes: . C(x) = mx + 40 . And you are told that m is the variable cost of producing one more item and that it is \$10. Substitute 10 for m and the equation is then: . C(x) = 10x + 40 . This equation is the answer to part (a) of the problem. . To graph this equation, you plot the cost C on the y-axis and the number of units produced on the x-axis. Note that it only makes sense to have the values of x (the number of units produced) equal to 0 or a positive number. [How would you build or produce a negative number of units?] Therefore, the Cost will always be a positive number. On the y-axis the cost will be a minimum of \$40 even if you produce no units. So the graph will start at \$40 on the y-axis (at the (x, y) point (0, 40) and will increase from there as the number of units produced increases. . You can get several points on the graph by assuming values for x and calculating the corresponding values for the Cost on the y-axis. For example, if 1 unit is produced (that is x = 1) the corresponding cost is given by the Cost equation as: . C(x) = 10(1) + 40 = 10 + 40 = 50 . So the (x, y) point (1, 50) is another point on the graph. . Next you could assume that 5 units are produced ... that is x = 5. Substitute that value into the cost equation and you have: . C(x) = 10(5) + 40 = 50 + 40 = 90 . This means that the (x, y) point (5, 90) is on the graph. . That is three points on the graph. You can plot these three points and then extend a straight line through them to sketch the graph. When you do that you should should have a graph that looks like: . . Ignore that part of the graph that shows in the area where x is negative. The graph should not extend to the left of the y-axis. . Hope this helps you to understand the problem a little better and to see your way through to the answers. . .