Solve the Problem. -The Cost for Labor Associated with Fixing a Washing Machine

question 27

Multiple Choice

Solve the problem.
-The cost for labor associated with fixing a washing machine is computed as follows: There is a fixed charge of $25 for the repairman to come to the house, to which a charge of $20 per hour is added. Find an equation that
Can be used to determine the labor cost, C, of a repair that takes x hours. Write the final answer in the form C =
Mx + b.

• A) C = 45x
• B) C = -20x + 25
• C) C = 20x + 25
• D) C = 25x + 20

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Definitions:

Production Function

A mathematical model that describes the relationship between input resources and the output of goods or services a firm can produce.

Isoquant

A curve that represents all the combinations of inputs that result in the production of a given level of output, showcasing the trade-off between different factors of production.

Output

The amount of goods or services produced by a company, industry, or economy within a specific period.

Production Function

A mathematical formula that describes the relationship between inputs used in production and the output of goods or services.