Chapter 10 book + lecture Flashcards
1
Q
linear cost function equation
A
y = mx + b
(the book makes it y = a +bx)
2
Q
what is y in y = mx + b
A
the dependent variable: the cost that is being predicted
3
Q
what is b in y = mx + b
A
the intercept fixed costs
4
Q
what is m in y = mx + b
A
5
Q
what is x in y = mx + b
A
6
Q
THIS CHAPTER IS NOT COVERED ON EXAM
A
7
Q
GOT TO DO HIGH LOW METHOD
A
8
Q
A
