Question

A company manufactures bicycles at a cost of $50 each. If the company's fixed costs are $700, express the company's costs as a linear function of x, the number of bicycles produced.

Answer 1

`y = 700 + 50x`

Explanation:

Hello, great question. These types are questions are the beginning steps for learning more advanced Algebraic Equations.

If the company has a fixed cost (fixed being a keyword) of $700, then that cost will be a steady value before they even start to manufacture the bicycles. Afterwards they have to spend $50 on each bicycle they produce. Since we do not know the amount of bicycles that have been produced we can use the variable x to represent this.

`y = 700 + 50x`

The equation above states that the company pays $700 plus $50 for every bike produced which comes out to a total of y.