A bottle of water costs $1.50. Explain how you would make a graph of four ordered pairs to model...

Question:

A bottle of water costs $1.50. Explain how you would make a graph of four ordered pairs to model the total cost of the water in terms of the number of bottles.

Cost Function

The total cost of purchased merchandise depends on the price and quantity purchased. The following formula could be used for the total cost:

{eq}TC = (price)\cdot (quantity)= p\cdot q {/eq}. This formula is typically used in finance or economics.

Answer and Explanation: 1

The table below shows the price, quantity, and the total cost of buying 1,2,3, or 4 bottles.


price quantity Total Cost, TC
1.50 1 1.50
1.50 2 3
1.50 3 4.50
1.50 4 6


To graph the total cost in terms of the number of bottles, we use the ordered pairs (quantity, total cost): {(1, 1.50), (2, 3). (3, 4.50), (4, 6)}. These pairs are represented by the points A,B,C, and D on the graph.


Total Cost


Learn more about this topic:

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Cost Function in Calculus: Formula & Examples

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Chapter 20 / Lesson 13
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Learn about the cost function formula. Discover how to find cost function. Explore average cost function and marginal cost function. See examples of finding the cost.


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