A business deals with two sorts of costs. Fixed costs are costs such as site rental or real estate taxes that are incurred regardless of daily operations. Variable costs are costs that vary depending on daily operations. For example, if a manufacturer pays $1200 per month for site rental and it costs $9.00 to produce each item, then the fixed cost is $1200 and the variable cost is $9.00 per item. Find a formula that gives the total cost C, in dollars, each month for this manufacturing company if n items are produced. C =
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
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