Math Problem Statement
Solution
We are tasked with finding the linear cost function , given the following information:
- Fixed cost = $200.
- Cost of producing 80 items = $3,400.
A linear cost function has the form:
Where:
- is the variable cost per item (slope),
- is the fixed cost,
- is the number of items produced.
Step 1: Identify the fixed cost
From the problem, we know the fixed cost is $200. Thus, .
Step 2: Use the information to find the variable cost per item
We are given that producing 80 items costs $3,400. Therefore, we can plug this into the linear equation:
Now, solve for :
Step 3: Write the final cost function
The variable cost per item is $40, and the fixed cost is $200. Thus, the cost function is:
Would you like further clarification or details on any part of this? Here are 5 related questions for deeper understanding:
- How does a change in the fixed cost affect the overall cost function?
- What is the cost for producing 100 items using the function ?
- How would the function change if the cost for 80 items was different?
- Can the linear cost function apply if the variable cost changes with the number of items produced?
- How would you graph the linear cost function?
Tip: The slope of a linear function represents the rate of change, which in cost functions is the variable cost per item.
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Math Problem Analysis
Mathematical Concepts
Linear Equations
Cost Functions
Formulas
C(x) = mx + b
Theorems
Linear Equation Formula
Suitable Grade Level
Grades 9-12
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