Economics—Cost Analysis: Consider the daily cost schedule for producing CasaVerde ceiling fans:
Fans Produced | Cost (in Dollars) |
0 | 2500 |
50 | 5500 |
220 | 15,700 |
(a) By inspecting the table of values, determine the fixed costs.
(b) How much does it cost for each additional ceiling fan that is produced? What do we call this cost?
(c) Write a cost function C, where x represents the number of ceiling fans produced, and C(x) represents the cost.
(d) What would the cost be if 84 ceiling fans were produced?
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