The supply equation of the company's total cost is 0.75x
The question implies that we determine the equation of the company production and categorize the equation as demand or supply
The given parameters are:
The total cost of production is calculated as:
Total Cost = Overalls * Cost price
To determine the equation, we set the number of overalls to x.
So, we have:
Total Cost = x * 0.75
Evaluate
Total Cost = 0.75x
Hence, the equation of the company's total cost is 0.75x
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