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ikrabbe ikrabbe
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Posts: 324
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6 years ago
Given the following chart, calculate the cost function. Interpret the function to calculate variable costs and fixed costs:
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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wrote...
6 years ago
y-intercept = 840
Slope of the line =   = 4
∴ Line is presented by the following relationship:
y = 4x + 840
In terms of cost this line is written as:
TC = VC + FC
∴ FC = $840
and VC = $4 per attendant
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