Discussion about math, puzzles, games and fun. Useful symbols: ÷ × ½ √ ∞ ≠ ≤ ≥ ≈ ⇒ ± ∈ Δ θ ∴ ∑ ∫ π -¹ ² ³ °

You are not logged in.

- Topics: Active | Unanswered

- Index
- » Formulas
- »
**fixed cost**

Pages: **1**

**mom****Member**- Registered: 2012-04-25
- Posts: 94

I thought that I had the formula for this problem down but I am not coming up with an answer anywhere close. Can somone please assist?

Suppose a manufacturer finds that the cost y of producing x units is given by the formula of the form y=mx+b. If is costs $1,300 to produce 20 units and $1,750 to produce 35 units, what is the fixed cost?

Doesn't b determine the fixed cost?

Offline

**bobbym****Administrator**- From: Bumpkinland
- Registered: 2009-04-12
- Posts: 102,821

If I am remembering it right, the y intercept is the fixed cost. You are correct that is b.

**In mathematics, you don't understand things. You just get used to them.****If it ain't broke, fix it until it is.** **A number by itself is useful, but it is far more useful to know how accurate or certain that number is.**

Offline

**mom****Member**- Registered: 2012-04-25
- Posts: 94

Then I am doing something incorrectly because I am coming up with y=30x+1310 and that is not one of my options.

Offline

**bobbym****Administrator**- From: Bumpkinland
- Registered: 2009-04-12
- Posts: 102,821

It should be y = 30 x + 700

**In mathematics, you don't understand things. You just get used to them.****If it ain't broke, fix it until it is.** **A number by itself is useful, but it is far more useful to know how accurate or certain that number is.**

Offline

**mom****Member**- Registered: 2012-04-25
- Posts: 94

wow!! not sure qhat i did wrong on that one

Offline

**bobbym****Administrator**- From: Bumpkinland
- Registered: 2009-04-12
- Posts: 102,821

Hi;

If you show me your work, I can try to figure that out.

**In mathematics, you don't understand things. You just get used to them.****If it ain't broke, fix it until it is.** **A number by itself is useful, but it is far more useful to know how accurate or certain that number is.**

Offline

**DeanPemberton****Member**- From: USA
- Registered: 2014-10-30
- Posts: 20
- Website

bobbym wrote:

If I am remembering it right, the y intercept is the fixed cost. You are correct that is b.

Yes agree, you are exactly correct. Y intercept is the fixed cost.

Offline

Pages: **1**

- Index
- » Formulas
- »
**fixed cost**