SOLUTION: The RideEm Bicycles factory can produce 170 bicycles in a day at a total cost of $10,200. It can produce 190 bicycles in a day at a total cost of $10,700. What are the company's da

Algebra ->  Test -> SOLUTION: The RideEm Bicycles factory can produce 170 bicycles in a day at a total cost of $10,200. It can produce 190 bicycles in a day at a total cost of $10,700. What are the company's da      Log On


   

Question 1115479: The RideEm Bicycles factory can produce 170 bicycles in a day at a total cost of $10,200. It can produce 190 bicycles in a day at a total cost of $10,700. What are the company's daily fixed costs? What is the marginal cost per bicycle?
Found 2 solutions by josgarithmetic, ikleyn:
Answer by josgarithmetic(39625) About Me  (Show Source):
You can put this solution on YOUR website!
(x,y) points (170,10200) and (190,10700).

y=mx%2Bb

m=500%2F20=50%2F2=highlight_green%2825%29--------cost per bicycle
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b=y-mx
b=10200-%2825%29%2A170
b=10200-4335
highlight_green%28b=5950%29--------fixed cost
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Answer by ikleyn(52855) About Me  (Show Source):
You can put this solution on YOUR website!
.
Cost per bicycle = %2810700-1-200%29%2F%28190-170%29 = 500%2F20 = 25 dollars.


Daily fixed cost = 10200-170*25 = 5950 dollars.


Be aware:   calculations and answers by  @josgarithmetic  are   I N C O R R E C T  !