Midterm Review 2

Front

What does it mean if an equation has infinitely many solutions?

Back

It means that there are an infinite number of values that satisfy the equation, often resulting from equivalent expressions on both sides.

Front

How do you set up an equation to compare costs of two different options?

Back

Identify the fixed costs and variable costs for each option, then set the total costs equal to each other to find the point of equivalence.

Front

What is the formula for calculating the total cost of an option with a fixed fee and a variable cost per unit?

Back

Total Cost = Fixed Fee + (Variable Cost per Unit * Number of Units)