Question 615147: hi can you please, guide me on how to solve this problem please: i am not sure how to set up the equation. this is the problem
A company that manufactures bicycles has a fixed cost of $90000. It costs $110 to produce each bicycle. The total cost for the company is the sum of its fixed costs and variable costs. First write the total cost, , as a function of the number of bicycles produced, . Don't put commas in your numbers (e.g., enter 10000 instead of 10,000
Answer by lwsshak3(11628)   (Show Source):
You can put this solution on YOUR website! A company that manufactures bicycles has a fixed cost of $90000. It costs $110 to produce each bicycle. The total cost for the company is the sum of its fixed costs and variable costs. First write the total cost, , as a function of the number of bicycles produced
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The formula to be used is that of a straight line.
Its standard form: y=mx+b, m=slope, b=y-intercept
For given problem:
m=110/bicycle
b=y-intercept=90000
x=number of bicycles produced
Equation for total cost: y=$110x+$90000
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