Economics—Cost Function: Managers who oversee the production of the Heart-Hopper heart rate monitor know that the fixed costs are $2600 and know that it costs $3950 to make 18 heart rate monitors.
(a) Write a linear cost function of the form C(x) = mx + b.
(b) Use the model in part (a) to determine the cost of producing 20 heart rate monitors.
(c) How much does it cost to produce the 21st heart rate monitor?
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