The slope of a curve is defined as the upper delta upper yδy divided by the upper delta upper xδx . (assume the y values are on
the vertical axis and the x values are on the horizontal axis) suppose your business operates a machine at a cost of $250250 per day whether it is used or not plus $5050 for each hour it is used. use the line drawing tool to draw the daily cost curve for this machine assuming an 8 hour day. label the curve 'cost'.
1 answer:
Explanation:
The cost function for this industry is given by,
When it is used for full 8 hours, total cost is
When it is used for 7 hours, TC is $600.
When it is used for 6 hours, TC is $550
When it is used for 5 hours, TC is $500.
When it is used for 4 hours, TC is $450.
When it is used for 3 hours, TC is $400.
When it is used for 2 hours, TC is $350.
When it is used for 1 hours, TC is $300.
When it is used for 0 hours, TC is $250.
Thus, the cost curve will look like the diagram given below.
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