A product is produced daily with a fixed cost of $350.00 per day (cost at 0 unit

Question

A product is produced daily with a fixed cost of $350.00 per day (cost at 0 units output) and total costs of $7300 per day at 5000 units of the drug a day.
Answer the following questions based on the information provided above:
1. Find the slope of the line joining the points with outputsof 0 and 1000- that is passing through (0,350) and (5000,7300).
2. Find an equation of the line relating output cost, write the final answer in the form, cost=mx+b. Explain how you arrived at your answer.
3. Using padwan graph, graph the cost equation.
4. Based on the results of the graph and the cost equation, discuss the relationship between drug production and cost.
5. What is the cost to produce 10,500 units per day. Interpret your result.
6. How many units will need to be produced for cost to exceed $25,000 (Round to nearest whole unit that will exceed $$25,000.)

Explanation / Answer

y=mx+b b=350 plug in y=7300 and x=5000 solve for m slope=m=(7300-350)/5000=(139/100) that's your answer. it doesn't matter what two points you pick, 0 to 1000 or whatever, if it's a linear line.

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