The manufacturing laundry sinks has fixed costs if $100 per day but has total costs of $2,500 per day when producing 15 sinks. The company has a daily demand function of q =360 – p, where q is the number of laundry sinks demanded and p is the price of a laundry sink. 1. If we assume that the total cost per day is linearly related to the amount of sinks produced in a day, derive the total cost function of the company? 2. Find a function for the average cost of this company
Unitary Method
The word “unitary” comes from the word “unit”, which means a single and complete entity. In this method, we find the value of a unit product from the given number of products, and then we solve for the other number of products.
Speed, Time, and Distance
Imagine you and 3 of your friends are planning to go to the playground at 6 in the evening. Your house is one mile away from the playground and one of your friends named Jim must start at 5 pm to reach the playground by walk. The other two friends are 3 miles away.
Profit and Loss
The amount earned or lost on the sale of one or more items is referred to as the profit or loss on that item.
Units and Measurements
Measurements and comparisons are the foundation of science and engineering. We, therefore, need rules that tell us how things are measured and compared. For these measurements and comparisons, we perform certain experiments, and we will need the experiments to set up the devices.
The manufacturing laundry sinks has fixed costs if $100 per day but has total costs of $2,500 per day when producing 15 sinks. The company has a daily demand function of q =360 – p, where q is the number of laundry sinks demanded and p is the price of a laundry sink.
1. If we assume that the total cost per day is linearly related to the amount of sinks produced in a day, derive the total cost function of the company?
2. Find a function for the average cost of this company
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