Answered: Write an equation for a cost function…

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Calculus

Write an equation for a cost function where the fixed costs are $2300 and the variable costs are $20 per unit. C(q) =

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter9: Quadratic Functions And Equations

Section9.8: Analyzing Functions With Successive Differences

Problem 33HP

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Question

Write an equation for a cost function where the fixed costs are $2300 and the variable costs are $20 per unit.
C(q) =
%3D
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Expert Solution

Step 1

Given

Fixed costs =$2300

And variable costs=$20 per unit

Let's total unit is X then

Equation of cost function=fixed costs+no of units ×variable costs per unit

Y=2300+20X

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