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#1 2013-05-16 02:16:47

mom
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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?

 

#2 2013-05-16 02:22:49

bobbym
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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 have the result, but I do not yet know how to get it.
All physicists, and a good many quite respectable mathematicians are contemptuous about proof.
 

#3 2013-05-16 03:02:33

mom
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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.

 

#4 2013-05-16 03:07:14

bobbym
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Re: fixed cost

It should be y = 30 x + 700


In mathematics, you don't understand things. You just get used to them.
I have the result, but I do not yet know how to get it.
All physicists, and a good many quite respectable mathematicians are contemptuous about proof.
 

#5 2013-05-16 07:15:08

mom
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Re: fixed cost

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

 

#6 2013-05-16 07:46:20

bobbym
Administrator

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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 have the result, but I do not yet know how to get it.
All physicists, and a good many quite respectable mathematicians are contemptuous about proof.
 

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