Economics Unit on Cost and Equations

<p>The marginal cost (D)</p> Signup and view all the answers

<p>$1000 (B)</p> Signup and view all the answers

<p>The daily decrease in the amount of oil in the tank (A)</p> Signup and view all the answers

<p>The original value of the equipment when it was purchased (B)</p> Signup and view all the answers

<p>26,000 gallons (B)</p> Signup and view all the answers

<p>1/50,000 (A)</p> Signup and view all the answers

<p>$250,000 (B)</p> Signup and view all the answers

<p>-2/3 (D)</p> Signup and view all the answers

<p>(0, 2) (A)</p> Signup and view all the answers

<p>3 (A)</p> Signup and view all the answers

<p>The line has a positive slope. (A), The line has a steep upward trend. (B)</p> Signup and view all the answers

<p>y = x + 1 (D)</p> Signup and view all the answers

<p>-2 (B)</p> Signup and view all the answers

<p>y + 1 = -3(x - 2) (A)</p> Signup and view all the answers

<p>y = 5 (B)</p> Signup and view all the answers

<p>x = 2 (B)</p> Signup and view all the answers

<p>-2/5 (B)</p> Signup and view all the answers

<p>y - 8 = -5/2(x + 4) (D)</p> Signup and view all the answers

<p>50°F (B)</p> Signup and view all the answers

<p>-3°F (C)</p> Signup and view all the answers

<p>-A/B (C)</p> Signup and view all the answers

<p>The percentage (as a decimal) of the purchase price of the book charged for shipping (D)</p> Signup and view all the answers

<p>$5.60 (C)</p> Signup and view all the answers

<p>$25 (C)</p> Signup and view all the answers

<p>$8.00 (D)</p> Signup and view all the answers

The measure of how steep a line is on a graph, calculated as rise over run.

The point where the line crosses the y-axis, represented as (0, y).

A mathematical representation of a line, typically in the form y = mx + b.

To find slope, rearrange equation into slope-intercept form y = mx + b.

A way to express slope as the vertical change (rise) divided by the horizontal change (run).

The cost to produce one additional unit of production.

The slope of the cost function represents the marginal cost, indicating cost increase per unit produced.

Costs that do not change with the amount of goods produced, represented by the y-intercept.

Indicates the increase in cost associated with producing one more unit, here it’s $2 per unit.

The change in y-value over the change in x-value, showing rate of change.

The reduction in value of an asset over time due to wear and tear.

A formula for a line using a known point and slope: y - y1 = m(x - x1).

Lines that have the same slope and never intersect.

The formula to calculate slope between two points: m = (y2 - y1) / (x2 - x1).

An equation of a line in the form y = mx + b where m is the slope and b is the y-intercept.

The equation of a line that runs horizontally, with a constant y-value: y = b.

The temperature can be expressed as T(t) = -3t + 50 based on hourly drop.

Lines that intersect at a right angle, slopes are negative reciprocals.

Describes how one quantity changes in relation to another, like temperature drop 3°F/hour.

$C(x) = 0.03x + 5$ represents the total shipping cost dependent on book price.

The constant $5 in the shipping function, regardless of book price.

The $0.03 per dollar of book price added to the shipping cost.

The full expression for shipping and handling costs, $C(x)$.

3% of the purchase price represented as 0.03x in the function.