Calculus with Applications (10th Edition)

Published by Pearson
ISBN 10: 0321749006
ISBN 13: 978-0-32174-900-0

Chapter 1 - Linear Functions - 1.2 Linear Functions and Applications - 1.2 Exercises - Page 23: 24



Work Step by Step

Assuming a linear cost function, $C(x)=mx+b$, where m represents the marginal cost and b represents the fixed cost. Here, b= $\$ 35$ (fixed cost) and m= $?$ (the cost to produce one item). Let $C(x)=$ cost of producing $x$ items. $C(x)=mx+35$ We don't know m, but we were given $C(8)=395$ , so we solve (for m): $m(8)+35=395$ $8m=360\qquad/\div 8$ $m=45$. $C(x)=45x+35$
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.