Economics—Cost Function: The Lesky Truck Rental Company charges a flat fee of $20 plus 15 cents per mile driven for renting a moving truck.
(a) What are the fixed costs? What are the variable costs?
(b) Write a linear function C, where x represents the number of miles driven and C(x) represents the rental costs.
(c) What would be a realistic domain for this function?
(d) Evaluate C(120), and interpret.
(e) What is the cost of the 121st mile driven? What is this cost called?
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