Question

If the total cost of producing 1500 items at $3 each is $4860, how do you find the cost equation?

Answer 1

The cost equation in `$` is `y=3 n+360`

Explanation:

Let `x=$3` is the cost of `1` item and number of item be `n`

and other cost is `c`(constant) for all items, and total cost

be `$y` for `n` items , then `y=n*x+c`

`y = 4860 , x=3 , n= 1500 :. 4860= 1500*3 +c` or

`c= 4860 -4500 or c =$360` Therefore the cost equation

becomes `y = n x+360 or y = 3 n+360`.

The cost equation in `$` is `y=3 n+360`.[Ans]