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

Cost Function The simplest cost function is the linear cost function C(x) = mx + b, where the y-intercept b represents the fixed cost of operating a business and the slope m represents the variable costs. Suppose that a small bicycle manufacturer has daily xed costs of $1700 and each bicycle costs $80 to manufacture. (a) Write a linear function that expresses the cost of manufacturing x bicycles in a day. 000 = (Type your answer in slope-intercept form. Use integers or fractions for any numbers in the expression. Do not include the $ symbol in your answer.) (b) Graph the linear function. Click to enlarge graph (Use the graphing tool to graph the linear equation.) (c) What is the cost of manufacturing 20 bicycles in a day? $ (Round to the nearest dollar as needed.) (d) How many bicycles could be manufactured for $3380? (Type a whole number.) 3000 2000 1000- : I 10 15 Number of Bicycles 20 9,0 l3

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