Cost Equation The fixed costsof operating a business are the costs incurred regardless of the level of production. Fixed costs include rent, fixed salaries, and costs of leasing machinery. The variable costsof operating a business are the costs that change with the level of output. Variable costs include raw materials, hourly wages, and electricity. Suppose that a manufacturer of jeans has fixed daily costs of $500 and variable costs of $8 for each pair of jeans manufactured. Write a linear equation that relates the daily cost C, in dollars, of manufacturing the jeans to the number xof jeans manufactured. What is the cost of manufacturing 400 pairs of jeans? 740 pairs?
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