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

Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
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Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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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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Transcribed Image Text:Write an equation for a cost function where the fixed costs are $2300 and the variable costs are $20 per unit. C(q) = %3D Additional Materials eBook
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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