3. Graph of Fixed and Variable Costs This graph shows the fixed and variable costs of a business. To create this graph for the first 100 units of clever wearable devices, we can plot the following values: - Fixed Costs: $10,000 - Variable Costs: $50 per unit I We can plot these values on a graph with unit sales on the x-axis and total costs on the y-axis. The fixed costs will be a horizontal line at $10,000, while the variable costs will be a diagonal line that starts at $10,000 and increases by $50 for each unit sold.
3. Graph of Fixed and Variable Costs This graph shows the fixed and variable costs of a business. To create this graph for the first 100 units of clever wearable devices, we can plot the following values: - Fixed Costs: $10,000 - Variable Costs: $50 per unit I We can plot these values on a graph with unit sales on the x-axis and total costs on the y-axis. The fixed costs will be a horizontal line at $10,000, while the variable costs will be a diagonal line that starts at $10,000 and increases by $50 for each unit sold.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Can you help me graph that information
Transcribed Image Text:3. Graph of Fixed and Variable Costs
This graph shows the fixed and variable costs of a business. To create this graph for the first 100 units
of clever wearable devices, we can plot the following values:
- Fixed Costs: $10,000
- Variable Costs: $50 per unit
I
We can plot these values on a graph with unit sales on the x-axis and total costs on the y-axis. The
fixed costs will be a horizontal line at $10,000, while the variable costs will be a diagonal line that
starts at $10,000 and increases by $50 for each unit sold.
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