- 1 Marks
QTB – May 2015 – L1 – SA – Q2 – Mathematics
Deriving the equation of a straight line for cost relation with given production and cost data.
Question
A firm produced 300 units of a commodity at a total cost of N680 and 700 units of the same commodity at a total cost of N1,060. If it is known that the cost relation is a straight line, derive the equation of this line.
A. y = – 0.95x + 395
B. y = 1.05x – 415.79
C. y = 0.95x + 395
D. y = 9.5x + 395
E. y = 1.05x + 419.75
Find Related Questions by Tags, levels, etc.
- Tags: Cost Relation, Fixed Costs, Linear Equation
- Level: Level 1
- Topic: Mathematics
- Series: MAY 2015
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