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.
The initial value in this function is the fixed cost, which is $1,350.
This means that even if the factory does not produce any umbrellas, they still have to pay $1,350 for their fixed costs. These costs could include things like rent, utilities, salaries, etc.