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 more item)
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Question 78980: 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 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)? Answer by renevencer22(21) (Show Source):
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