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: 25

Answer

$C(x)=75x+550$

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, $b$= $?\ \ $(fixed cost) and $m$= $\$ 75$ (the cost to produce one item). Let $C(x)=$ cost of producing $x$ items. $C(x)=75x+b$ We don't know $b$, but we were given $C(50)=4300$ , so we solve (for $b$): $75(50) +b=4300$ $3750+b=4300$ $b=550$ $C(x)=75x+550$
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