Problem

Assume that each of the given situations can be expressed as a linear cost function. Find...

Assume that each of the given situations can be expressed as a linear cost function. Find the appropriate cost function in each case. (See Examples 1 and 2.)

Marginal cost, $120; 100 items cost $15,800 to produce.

Example 1

An anticlot drug can be made for $10 per unit. The total cost to produce 100 units is $1500.

Example 2

Find the average cost of producing 100 and 1000 units of the anticlot drug in Example 1.

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