Posted by jackie on Wednesday, April 4, 2007 at 11:36am.
Business and finance. The cost of producing a number of items x is given by
C = mx + b, in which b is the fixed cost and m is the variable cost (the cost of producing one more item).
(a) If the fixed cost is $40 and the variable cost is $10, write the cost equation.
would the equation be
(b) Graph the cost equation.
I am not sure what I am suppose to graph here
(c) The revenue generated from the sale of x items is given by R=50x. Graph the
revenue equation on the same set of axes as the cost equation.
I am also stuck here I feel like i have missed something while i am reading this question over and over please help
(d) How many items must be produced for the revenue to equal the cost (the
b) find any two points with your equation
e.g. let x = 0, then C=40
let x=10, then C = 140
Now plot (0,40) and (10,140) by using a suitable scale for your x and C axes.
c) since both C and R are in dollars you can use the same vertical axis
do the same as in b)
d) you want R = C, but you have expressions for both
so 50x = 10x + 40
solve, you should be able to do this in your head by just looking at that equation.
so on d i need to
then i need to put this in my graph
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