The cost of producing cell phones is represented as C=mx+b, where m is the marginal cost, x is the number of phones produced, b is the fixed cost, and C is the final cost.

Question

a. If the fixed cost is $75 and the marginal cost is $8, write the cost equation.
b. In March, the total cost was $18,955. Calculate the number of phones produced using the equation.
c. If the goal for March was to produce at least 2000 phones, did the company meet this goal? Show mathematically the number of phones exceeded or missed the goal?

Answer 1

a. C = 8x + 75.

b. C = 8x + 75 = 18,955
8x = 18,955 - 75 = 18,880
X = 2360.

c.