A corporation produces mini-widgets. The variable expenses are $1.24 per mini-widget, and the fixed expenses are $142,900. a. What is the total cost to produce one mini-widget? b. What is the total cost to produce 20,000 mini-widgets? c. Express the expense function algebraically. d. What is the slope of the expense function? e. If the slope is interpreted as a
Chapter 9, Application 9.4 #3
A corporation produces mini-widgets. The variable expenses are $1.24 per mini-widget, and the fixed expenses are $142,900.
a. What is the total cost to produce one mini-widget?
b. What is the total cost to produce 20,000 mini-widgets?
c. Express the expense function algebraically.
d. What is the slope of the expense function?
e. If the slope is interpreted as a rate, give the units that would be used.
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Answer
a. The total cost to produce one mini-widget = $1.24(1) + $142,900 = $143.04 b. The total cos…View the full answer
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2nd Edition
Authors: Robert Gerver, Richard J. Sgroi
ISBN: 9781337271790