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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: 86,242

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.
Of course that result can be rigorously obtained, but who cares?
Combinatorics is Algebra and Algebra is Combinatorics.

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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: 86,242

Re: fixed cost

It should be y = 30 x + 700


In mathematics, you don't understand things. You just get used to them.
Of course that result can be rigorously obtained, but who cares?
Combinatorics is Algebra and Algebra is Combinatorics.

Online

#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: 86,242

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.
Of course that result can be rigorously obtained, but who cares?
Combinatorics is Algebra and Algebra is Combinatorics.

Online

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