Question

The slope of a curve is defined as the upper delta upper yδy divided by the upper delta upper xδx . ​(assume the y values are on the vertical axis and the x values are on the horizontal​ axis) suppose your business operates a machine at a cost of ​$250250 per day whether it is used or not plus ​$5050 for each hour it is used. use the line drawing tool to draw the daily cost curve for this machine assuming an 8 hour day. label the curve​ 'cost'.

Answer 1

The slope of the curve represents the change in the dependent variable divided by the change in the independent variable. To draw the daily cost curve for the machine, we need to plot the number of hours used against the corresponding daily cost. The curve will show how the daily cost varies with the number of hours used.

Step-by-step explanation:

The slope of a curve can be defined as the change in the dependent variable (y) divided by the change in the independent variable (x). In this case, the dependent variable is the daily cost of operating a machine and the independent variable is the number of hours the machine is used.

We are given that the daily cost is $250 and there is an additional cost of $50 for each hour the machine is used. Since there are 8 hours in a day, we can calculate the daily cost for each number of hours used. For example, for 2 hours of machine usage, the daily cost would be $250 + ($50 * 2) = $350.

To draw the daily cost curve, we can plot the number of hours used on the horizontal axis (x-axis) and the corresponding daily cost on the vertical axis (y-axis). Each point on the graph represents a specific number of hours used and the corresponding daily cost. By connecting these points, we can create a curve that represents the daily cost as a function of the number of hours used.

Answer 2

Explanation:

The cost function for this industry is given by,

`TC = FC + VC*Q`

`TC = $250 + $50(Number of hours used)`

When it is used for full 8 hours, total cost is

`TC= 250 + 50(8) = 250 + 400 = $650`

When it is used for 7 hours, TC is $600.

When it is used for 6 hours, TC is $550

When it is used for 5 hours, TC is $500.

When it is used for 4 hours, TC is $450.

When it is used for 3 hours, TC is $400.

When it is used for 2 hours, TC is $350.

When it is used for 1 hours, TC is $300.

When it is used for 0 hours, TC is $250.

Thus, the cost curve will look like the diagram given below.