The Happy Widget Company has a fixed cost of $1,378 each day to run their factory and a variable cost of $1.83 for each widget they produce.

Create a linear model for their daily cost.

How much does it cost them to produce 267 widgets?

Fixed cost is the cost the remains constant with the number of widgets produced. Variable cost increases with the number of widgets produced. Daily cost is the sum of fixed cost and variable cost.

Fixed cost = fixed cost + (variable cost x number of widgets)

C(x) = $1378 + $1.83(x).

C(x) = $1378 + $1.83(267) = $1,866.61

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The Happy Widget Company has a fixed cost of $1,378 each day to run their factory and a variable cost of $1.83 for each widget they produce. Create a linear model for their daily cost. How much does it cost them to produce 267 widgets?

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What is the cost of producing 267 widgets?

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The Happy Widget Company has a fixed cost of $1,378 each day to run their factory and a variable cost of $1.83 for each widget they produce.

Create a linear model for their daily cost.

How much does it cost them to produce 267 widgets?