Question
A company that manufactures bicycles has a fixed cost of \( \$ 100,000 \). It costs \( \$ 200 \) to produce each bicycle. The total cost for the company is the sum of its fixed cost and variable costs. Write the total cost, \( C \), as a function of the number of bicycles produced, \( x \). Then, find and interpret \( C(110) \). The total cost function is \( C(x)=100,000+200 x \). Determine the interpretation of \( C(110) \). Select the correct choice below and fill in the answer box(es) to complete your choice. (Simplify your answers.) A. \( C(110)=\square \); It costs \( \$ \square \) to produce 110 bicycles. B. \( C(110)=\square \); It costs \( \$ 110 \) to produce \( \square \) bicycles.
Ask by Munoz Love. in the United States
Feb 03,2025
Real Tutor Solution
Tutor-Verified Answer
Answer
\( C(110) = \$122,000 \); It costs \$122,000 to produce 110 bicycles.
Solution
Given that the fixed cost of the company is $100,000 and it costs $200 to produce each bicycle, the total cost function \( C(x) \) can be expressed as:
\[ C(x) = 100,000 + 200x \]
To find the total cost of producing 110 bicycles, we substitute \( x = 110 \) into the total cost function:
\[ C(110) = 100,000 + 200(110) \]
Now, let's calculate \( C(110) \) to determine the total cost of producing 110 bicycles.
Calculate the value by following steps:
- step0: Calculate:
\(100000+200\times 110\)
- step1: Multiply the numbers:
\(100000+22000\)
- step2: Add the numbers:
\(122000\)
The total cost of producing 110 bicycles is $122,000.
Therefore, the correct interpretation is:
A. \( C(110) = \$122,000 \); It costs $122,000 to produce 110 bicycles.
Reviewed and approved by the UpStudy tutoring team
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The Deep Dive
To find \( C(110) \), we substitute \( x = 110 \) into the total cost function: \[ C(110) = 100,000 + 200(110) = 100,000 + 22,000 = 122,000 \] So, \( C(110) = 122,000 \); it costs \( \$ 122,000 \) to produce 110 bicycles. The correct choice is: A. \( C(110) = 122,000 \); It costs \( \$ 122,000 \) to produce 110 bicycles.