Cost Function The simplest cost function is the linear
Chapter 4, Problem 47(choose chapter or problem)
Cost Function The simplest cost function is the linear cost function, 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. (c) What is the cost of manufacturing 14 bicycles in a day? (d) How many bicycles could be manufactured for $3780?
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