Question 53374: 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.
c. The revenue generated from the sale of x items is given by R=50x. Graph the revenue equation on the same set of axes as the cost equation.
d. How many items must be produced for the revenue to equal the cost (the break-even point)?
I know this is a large one but it cmae with multiple questions to one problem. I hop eyou can helpme with this BEAR! McGraw Hill 6th edition,chapter 6, section 3, problem # 50. Thanks agian!!!
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! 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.
Cost = 10x+40
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b. Graph the cost equation.
c. The revenue generated from the sale of x items is given by R=50x. Graph the revenue equation on the same set of axes as the cost equation.
d. How many items must be produced for the revenue to equal the cost (the break-even point)?
C=R
10x+40=50x
40=40x
x=1 item must be produced.
Cheers,
Stan H.
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