Question

The initial cost to drill a well is $210000. the daily rate to operate the well is $500. The current selling price is $65 per barrel of oil and the well is expected to produce 115 barrels per day. In function notation, write an equation for the operating cost of this well for X number of days.

Answer 1

Hi there!

There is an initial cost of $210,000 (which you're just going to pay once)

Then it costs $500 per day to operate.

The number of days is represented by "x".

Your equation in function notation should look like this :

f(x) = 500x + 210,000

There you go! I really hope this helped, if there's anything just let me know! :)