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A company that manufactures small canoes has a fixed cost of
$24,000. It costs
$40 to produce each canoe. The selling price is
$160 per canoe. (In solving this exercise, let
x represent the number of canoes produced and sold.)
a. Write the cost function.

C(x)=◻ (Type an expression using
x as the variable.)

A company that manufactures small canoes has a fixed cost of $\$ 24,000$ . It costs $\$ 40$ to produce each canoe. The selling price is $\$ 160$ per canoe. (In solving this exercise, let $x$ represent the number of canoes produced and sold.) $\newline$ a. Write the cost function. $\newline$ $\mathrm{C}(\mathrm{x})=\square$ (Type an expression using $\mathrm{x}$ as the variable.)

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Experimental probability

Full solution

Q. A company that manufactures small canoes has a fixed cost of

\$ 24,000

. It costs

\$ 40

to produce each canoe. The selling price is

\$ 160

per canoe. (In solving this exercise, let

x

represent the number of canoes produced and sold.)

\newline

a. Write the cost function.

\newline

\mathrm{C}(\mathrm{x})=\square

(Type an expression using

\mathrm{x}

as the variable.)

Fixed Cost Explanation: The fixed cost is $\$24,000$ , which doesn't change regardless of how many canoes are made.
Variable Cost Explanation: The variable cost is $\$40$ per canoe, so for $x$ canoes, the variable cost is $40x$ .
Cost Function Definition: The cost function $C(x)$ is the sum of the fixed cost and the variable cost for $x$ canoes.
Cost Function Formula: $C(x) = \text{Fixed Cost} + (\text{Variable Cost per Canoe} \times \text{Number of Canoes})$
Cost Calculation: $C(x) = \$24,000 + (\$40 \times x)$
Final Cost Function: Therefore, the cost function is $C(x) = 24000 + 40x$ .

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