SOLUTION: Business and Finance. 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 or more

Question 44693: Business and Finance. 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 or more item).
(a) If the fixed cost is $40.00 and the variable cost is $10, write the cost equation.
(b) Graph the cost equation.
Answer by fractalier(6550) (Show Source): You can put this solution on YOUR website!
Given C(x) = mx + b, we merely plug in for the fixed cost (b = $40) and the incremental cost (m = $10)...we get
C(x) = 10x + 40
We know this is correct because if x = 0, that is no items produced, our fixed cost would still be $40...
To graph this, plot the point (0, 40), becaise when x = 0, C(x) = 40...
Then let x = 1...C(x) = 10(1) + 40 = 50...thus graph the point (1, 50)...
Connect the dots in a line and you're done...
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