Considering the definition of linear equation, the cost function is Cost=300 + 30× number of items produced.
<h3>Linear equation</h3>
A linear equation o line can be expressed in the form y = mx + b
where
- x and y are coordinates of a point.
- m is the slope.
- b is the ordinate to the origin and represents the coordinate of the point where the line crosses the y axis.
<h3>Cost function</h3>
In this case, you know:
- fixed cost is $300.
- 80 items cost $2,700 to produce.
The cost function is:
Cost=300 + production cost of each item× number of items produced
Substituting the corresponding values:
2700= 300 + production cost of each item× 80
Solving:
2700 - 300= production cost of each item× 80
2700 - 300= production cost of each item× 80
2400= production cost of each item× 80
2400÷ 80= production cost of each item
<u><em>30= production cost of each item</em></u>
Finally, the cost function is Cost=300 + 30× number of items produced.
Learn more about equation of a line:
brainly.com/question/13763238
brainly.com/question/28337831
brainly.com/question/20630271
#SPJ4
