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Below is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.
How do you write an equation for a cost function?
The cost function equation is expressed as C(x)= FC + V(x), where C equals total production cost, FC is total fixed costs, V is variable cost and x is the number of units. Understanding a firm's cost function is helpful in the budgeting process because it helps management understand the cost behavior of a product.
How do you define a cost function?
A cost function is a function of input prices and output quantity whose value is the cost of making that output given those input prices, often applied through the use of the cost curve by companies to minimize cost and maximize production efficiency.
What is the revenue function formula?
revenue function (the product of the price per unit times the number of units sold. R = P × Q) will be R = $1.5 Q, where R is the revenue and Q is the number of units sold. The equation for the cost function is C = $40,000 + $0.3 Q, where C is the total cost.
How do you determine an equation is a function?
It is relatively easy to determine whether an equation is a function by solving for y. When you are given an equation and a specific value for x, there should only be one corresponding y-value for that x-value. For example, y = x + 1 is a function because y will always be one greater than x.
How do I enable equations in Word?
Simply select the Insert tab and choose Equation under the Symbols section. If you still do not see the Equation option, you may have to go to File > Options > Customize Ribbon. Select All Commands in the Choose commands from menu, then add Symbols to the tabs listed on the right side of the screen.
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