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Question 55071: Here is my question: 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 at a loss when it comes to figuring out word problems, so please help me with this problem.
Answer by funmath(2933)   (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.
(b) Graph the cost equation.
(a)The formula is: C=mx+b, m=10 and b=40
(b) Plot the y=intercept (0,b)=(0,40)
Use the slope=10/1=rise/run. From (0,40) go up 10 and right 1 and plot another point at (1,50) connect the dots and you have a graph that looks like:
Happy Calculating!!!
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