Math Problem Statement

Assume that each situation can be expressed as a linear cost function. Find the cost function in each case.: Fixed cost: $35; 8 items cost $395 to produce.

Solution

To find the cost function C(x)C(x), we can use the standard form of a linear equation:

C(x)=mx+bC(x) = mx + b

Where:

  • mm is the variable cost per item (slope),
  • bb is the fixed cost (y-intercept),
  • xx is the number of items produced.

Step 1: Identify given values

  • Fixed cost (bb) = 35
  • At x=8x = 8, total cost C(8)=395C(8) = 395

Step 2: Substitute known values into the equation

At x=8x = 8, C(x)=395C(x) = 395: 395=m(8)+35395 = m(8) + 35

Step 3: Solve for mm

39535=8m395 - 35 = 8m 360=8m360 = 8m m=45m = 45

Step 4: Write the cost function

Substituting m=45m = 45 and b=35b = 35: C(x)=45x+35C(x) = 45x + 35

Final Answer:

C(x)=45x+35C(x) = 45x + 35

Would you like me to verify this or explain any part further?

Related Questions:

  1. How would the cost function change if the fixed cost increases?
  2. What is the cost of producing 15 items using this function?
  3. How do you interpret the slope of this function in real-world terms?
  4. If 20 items cost $935, can you determine if this model still holds?
  5. How can this be plotted on a graph for visual representation?

Tip:

Always check the units and make sure the cost values align with the input variable xx.

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Math Problem Analysis

Mathematical Concepts

Linear Equations
Cost Functions

Formulas

C(x) = mx + b

Theorems

Slope-Intercept Form

Suitable Grade Level

Grades 9-11