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#1 2013-05-15 04:16:47

mom
Member
Registered: 2012-04-25
Posts: 94

fixed cost

I thought that I had the formula for this problem down but I am not coming up with an answer anywhere close. Can somone please assist?

Suppose a manufacturer finds that the cost y of producing x units is given by the formula of the form y=mx+b. If is costs $1,300 to produce 20 units and $1,750 to produce 35 units, what is the fixed cost?

Doesn't b determine the fixed cost?

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#2 2013-05-15 04:22:49

bobbym
Administrator
From: Bumpkinland
Registered: 2009-04-12
Posts: 90,672

Re: fixed cost

If I am remembering it right, the y intercept is the fixed cost. You are correct that is b.


In mathematics, you don't understand things. You just get used to them.

I agree with you regarding the satisfaction and importance of actually computing some numbers. I can't tell you how often I see time and money wasted because someone didn't bother to run the numbers.

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#3 2013-05-15 05:02:33

mom
Member
Registered: 2012-04-25
Posts: 94

Re: fixed cost

Then I am doing something incorrectly because I am coming up with y=30x+1310 and that is not one of my options.

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#4 2013-05-15 05:07:14

bobbym
Administrator
From: Bumpkinland
Registered: 2009-04-12
Posts: 90,672

Re: fixed cost

It should be y = 30 x + 700


In mathematics, you don't understand things. You just get used to them.

I agree with you regarding the satisfaction and importance of actually computing some numbers. I can't tell you how often I see time and money wasted because someone didn't bother to run the numbers.

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#5 2013-05-15 09:15:08

mom
Member
Registered: 2012-04-25
Posts: 94

Re: fixed cost

wow!! not sure qhat i did wrong on that one

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#6 2013-05-15 09:46:20

bobbym
Administrator
From: Bumpkinland
Registered: 2009-04-12
Posts: 90,672

Re: fixed cost

Hi;

If you show me your work, I can try to figure that out.


In mathematics, you don't understand things. You just get used to them.

I agree with you regarding the satisfaction and importance of actually computing some numbers. I can't tell you how often I see time and money wasted because someone didn't bother to run the numbers.

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#7 2014-10-30 23:29:43

DeanPemberton
Member
From: USA
Registered: 2014-10-30
Posts: 14
Website

Re: fixed cost

bobbym wrote:

If I am remembering it right, the y intercept is the fixed cost. You are correct that is b.

Yes agree, you are exactly correct. Y intercept is the fixed cost.

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