I did the first part how would i graph it.
Problem:
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.
(b)Graph the cost equation.
My answer:
For (A) C = 10x + 40
FOr (B) how do i graph this?
graph it like a normal line in y=mx+b form. it has a slope 10 and y-intercept of 40.
i wasn't sure if that's how i was suppost to look at it. thanks so much.
To graph the cost equation C = 10x + 40, you can follow these steps:
1. Choose a suitable range for the x-axis and y-axis. Since the equation represents the cost of producing items, make sure the x-axis represents the number of items produced, and the y-axis represents the cost.
2. Plot the y-intercept. In this case, the y-intercept is 40. So, plot a point on the y-axis at the value of 40.
3. Determine the slope. The slope of the equation is 10, which means for each additional item produced, the cost increases by $10. From the y-intercept, count vertically up 10 units and horizontally to the right 1 unit. Plot another point at this position.
4. Repeat step 3 to plot more points. Move one unit to the right and 10 units up again to plot another point. Repeat this step as many times as needed to get a sense of the line's direction and shape.
5. Connect the points. Finally, draw a straight line through the plotted points. This line represents the cost equation C = 10x + 40.
Remember, a graphing calculator or graphing software can also be used to easily plot and visualize the line.