Question
Asked Feb 5, 2020
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One company manufactures high-end
racing bicycles. The monthly fixed costs
are $2425. The total cost to manufacture
21 bikes is $19960. Assume that total
cost, C, is linearly related to the number of
bicycles, x, that the company
manufactures.
A) The cost function is:
Preview
Remember to use function notation.
B) The total cost to manufacture 20 bikes
is $
C) The cost to produce each additional
bike is $
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One company manufactures high-end racing bicycles. The monthly fixed costs are $2425. The total cost to manufacture 21 bikes is $19960. Assume that total cost, C, is linearly related to the number of bicycles, x, that the company manufactures. A) The cost function is: Preview Remember to use function notation. B) The total cost to manufacture 20 bikes is $ C) The cost to produce each additional bike is $

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Expert Answer

Step 1

It is given that a company is manufacturing high-end racing bicycles. The monthly fixed costs are $2425. The total cost to manufacture 21 bikes is $19,960. Also, the total cost C is linearly related to the number of cycles manufacture x.

Step 2

a)

The cost for manufacturing a bicycle is,

Probability homework question answer, step 2, image 1

Thus, the cost for manufacturing a bicycle is $835.

Hence, the cost function is, c=$2,425+$835x

Step 3

b)

The total cost to manufacture 20 bikes is,

Probability homework question answer, step 3, image 1

Thus, the total cost to manufacture 20 bikes is $19.125

...

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