Answer:
The fixed costs per day for the factory is $10,000 and marginal cost of one refrigerator for $500
Step-by-step explanation:
Let
Cost per refrigerator (marginal cost) = r
Fixed costs per day for the factory = f
Total cost = variable cost + fixed cost
Monday
25,000 = 30r + f
Tuesday
30,000 = 40r + f
Using Monday,
f = 25000 -30r
Substitute f = 25000 - 30r into Tuesday
30,000 = 40r + f
30,000 = 40r + (25,000 -30r)
30,000 = 40r + 25,000 - 30r
Collect like terms
30,000 - 25,000 = 40r - 30r
5,000 = 10r
Divide both sides by 10
r = 5,000 / 10
= 500
r = $500
Substitute r= 500 into Monday equation
f = 25,000 -30r
= 25,000 - 30(500)
= 25,000 - 15,000
= 10,000
f = $10,000
Therefore, the fixed costs per day for the factory is $10,000 and marginal cost of one refrigerator for $500
