Math Solutions

[Solved] A company that manufactures roller skates has fixed costs of $300 per day and total costs of $4300 per day at an output of 100 pairs of skates

Question: A company that manufactures roller skates has fixed costs of $300 per day and total costs of $4300 per day at an output of 100 pairs of skates per day. The cost C is lineraly related to output x.

  1. Find the slope of the line joining the points associated with outputs of 0 and 100; that is the line passing through (0, 300) and (100, 4300).
  2. Find an equation of the line relating output to cost. Write the answer in the form c=mx+b; Interpret the equation in terms of fixed costs and variable costs describing each.
  3. What is the rate of change of the cost function, ie what is marginal cost?

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