A factory produces beach umbrellas. They have a fixed cost they must pay no matter how many umbrellas they produce, and a variable cost they must pay for each umbrella they produce. The cost of producing x umbrellas is modeled by the function C(x)=2.83x+1,350. Identify and interpret the initial value.(1 point)%0D%0AResponses%0D%0A%0D%0AThe initial value of 1,350 represents the variable cost.%0D%0AThe initial value of 1,350 represents the variable cost.%0D%0A%0D%0AThe initial value of 2.83 represents the variable cost.%0D%0AThe initial value of 2.83 represents the variable cost.%0D%0A%0D%0AThe initial value of 2.83 represents the fixed cost.%0D%0AThe initial value of 2.83 represents the fixed cost.%0D%0A%0D%0AThe initial value of 1,350 represents the fixed cost.
The initial value of $1,350 represents the fixed cost. This means that the factory has to pay $1,350 regardless of how many umbrellas they produce. It is a constant cost that does not depend on the quantity of umbrellas produced.
