Asked by Isaiah Estilien on Jul 31, 2024

Verified

Jeff prepares meals in the home of his customers.His fixed cost for transportation and supplies is $14.50.The labor and groceries needed for each family meal is $8.80,so the expense function is E = 5.7q + 8.8.

Fixed Cost

Expenses that do not change with the level of goods or services produced over the short term.

Expense Function

A mathematical representation or formula used to calculate the total expenses incurred by a business or individual.

- Learn the process of computing the expenses incurred in the creation of products.

Verified Answer

ZK

Zybrea Knight

5 days ago

Final Answer :

False

Explanation :

The expense function is given as E = 5.7q + 8.8, which means that the variable cost per meal is $5.7 (for labor) and $8.8 (for groceries). However, the fixed cost for transportation and supplies is not included in this function. Therefore, the total cost per meal would be E = 14.50 + 5.7q + 8.8, where $14.50 is the fixed cost and the variable costs are $5.7 for labor and $8.8 for groceries.

## Learning Objectives

- Learn the process of computing the expenses incurred in the creation of products.