Question: The simplest cost function is the linear cost function, C(x) = mx + b, where the y-intercept b represents the fixed costs of operating a

The simplest cost function is the linear cost function, C(x) = mx + b, where the y-intercept b represents the fixed costs of operating a business and the slope m represents the cost of each item produced. Suppose that a small bicycle manufacturer has daily fixed costs of $1800 and each bicycle costs $90 to manufacture.

(a) Write a linear model that expresses the cost C of manufacturing x bicycles in a day.

(b) Graph the model.

(d) How many bicycles could be manufactured for $3780?

Step by Step Solution

★★★★★

3.24 Rating (165 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a Let x the number of bicycles manufactured We can use the cost function Cx ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Precalculus Questions!

Refer to Problem 47. Suppose that the landlord of the building increases the bicycle manufacturers rent by $100 per month. (a) Assuming that the manufacturer is open for business 20 days per month,...

The fixed costs of operating a business are the costs incurred regardless of the level of production. Fixed costs include rent, fixed salaries, and costs of leasing machinery.The variable costs of...

Assume that the linear function f(x) = mx + c is positive on the interval [a, b]. Prove that the midpoint Riemann sum with any value of n gives the exact area of the region between the graph of f and...

This is a study guide for chapters (4.1 - 4.3) I answered 15/25 questions and need help with these final 10 I'm having a hard time grasping them! I've attached all the questions in picture form so...

we are looking at a company that offers its goods in a market with well-functioning competition. The company's cost function C (x) can be written: C (x) = 0.5cx ^ 2 + F Where x is production, F is...

6.4 Parallel and Perpendicular Lines Principles of Mathematics 9, pages 326-329 A 1. Graph each pair of lines on the same coordinate grid using pencil and paper or 3. Graph each pair of lines on the...

1. Find the vertex and axis of symmetry of the graph of the function f(x) = 3x2 + 36x. a. (-6, -108); x = -6 b. (-6, 0); x = -6 c. (6, -108); x =6 d. (6, 0); x = 6 Q2. Graph the function f(x) = -x2 +...

1. Determine whether the relation represents a function. If it is a function, state the domain and range. {(-4, 17), (-3, 10), (0, 1), (3, 10), (5, 26)} a. It is a function; domain: {17, 10, 1, 26};...

MAT1050 / Dr. Khoule Exam 3 1. The total revenue function for a product is given by same product is given by R 250x C 1600 350x x 2 , and the total cost function for this , where R and C are each...

business law For the year ended 30 June 2012, the audit team included a manager, two supervisors, two qualified seniors and three trainees. This audit, which lasted approximately five weeks, was very...

What is the fiscal year end of Apple? How many shares were issued and outstanding as of the fiscal year end of 2014? What is the monetary amounts for Apples financial statements?

Suppose G and H are two groups and p is a prime. (a) Show that if R is a Sylow p-subgroup of G x H, then there is a Sylow p-subgroup P of G and a Sylow p-subgroup Q of H so that R = P x Q. (b) Show...

Below is the trial balance of Frank's Farm Shop at 5 April 2024. Trading account: Sales 456,080 Opening inventory 12,860 Purchases 238,540 Carriage inwards 2,510 Other revenues and expenses: Income...

Discuss the reasons for the frequent use of cross-tabulation. What are some of its limitations?

The National Football League (NFL) combine is a forum in which players who want to play in the NFL demonstrate various skills. One skill that is measured is the 40-yard dash. Go to...

Do people's political philosophy tend to change with age? One technique we may use to answer this question is to see if the mean age of conservatives, moderates, and liberals differ. Go to...

Consider the Seatbelts dataset from R. It contains multiple time series giving information of car drivers in Great Britain killed or seriously injured Jan 1969 to Dec 1984. The law for compulsory...

QUESTION 1 . Consider a portfolio equally invested in two stocks: A and B . Current market value of this portfolio is 1 0 0 million. The daily volatility for stock A ' s returns is 0 . 0 9 , and the...

The purpose of this assignment is to allow students the opportunity to research a Fortune 500 company stock using the popular online research tool Yahoo Finance. The tool allows the student to review...