QuestionFind the cost function for canoes with fixed cost \$20000, production cost \$40, and selling price \$80.
Studdy Solution
STEP 1
Assumptions1. The fixed cost is \C(x)x$ is the number of canoes produced and sold
STEP 2
The cost function is composed of two parts the fixed cost and the variable cost. The fixed cost is a constant, and the variable cost depends on the number of canoes produced.
STEP 3
Now, plug in the given values for the fixed cost and variable cost to write the cost function.
This is the cost function for the canoes.
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