Chapter7: Systems Of Equations And Inequalities
Section7.3: Systems Of Nonlinear Equations And Inequalities: Two Variables
Problem 4SE: If you graph a revenue and cost function, explain how to determine in what regions there is profit.
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Transcribed Image Text:Write an equation for a cost function where the fixed costs are $2300 and the variable costs are $20 per unit.
C(q) =
%3D
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Expert Solution
Step 1
Given
Fixed costs =$2300
And variable costs=$20 per unit
Let's total unit is X then
Equation of cost function=fixed costs+no of units ×variable costs per unit
Y=2300+20X
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