## Related questions with answers

The simplest cost function is the linear cost function, $C(x) = mx + b$, where the y-intercept b represents the fixed costs of operating a business and the slope m represents the cost of each item produced. Suppose that a small bicycle manufacturer has daily fixed costs of $1800 and each bicycle costs$90 to manufacture. Graph the model.

Solution

VerifiedThe goal of this task is to graph the model. The linear function is given by:

$C(x)=90x+1800,~~x\geq0$

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