a. it tells us that there is a fixed cost of approximately $35 for ordering hats.\nb. it tells us the amount…

a. it tells us that there is a fixed cost of approximately $35 for ordering hats.\nb. it tells us the amount that the total cost increases for each additional hat ordered.\nc. it tell us that when 9 hats are ordered, the total cost is approximately $160.\nd. it tells us that when the number of hats ordered increases by 10, the total cost increases by approximately $175.

a. it tells us that there is a fixed cost of approximately $35 for ordering hats.\nb. it tells us the amount that the total cost increases for each additional hat ordered.\nc. it tell us that when 9 hats are ordered, the total cost is approximately $160.\nd. it tells us that when the number of hats ordered increases by 10, the total cost increases by approximately $175.

Answer

Explanation:

Step1: Analyze the y - intercept

The y - intercept of the cost - quantity graph is the value of the total cost when the number of hats ordered is 0. In a cost function of the form (y = mx + b) (where (y) is total cost, (x) is the number of units, (m) is the slope and (b) is the y - intercept), the y - intercept represents the fixed cost. Looking at the graph, when (x = 0), (y\approx35), so it represents a fixed cost of approximately $35 for ordering hats.

Step2: Analyze the slope

The slope of the line in a cost - quantity graph gives the variable cost per unit. That is, it tells us the amount that the total cost increases for each additional hat ordered.

Step3: Analyze a point on the graph

For a point ((x,y)) on the graph, (x) is the number of hats ordered and (y) is the total cost. When (x = 9), (y\approx160), so it tells us that when 9 hats are ordered, the total cost is approximately $160.

Step4: Analyze the change in cost with change in quantity

If we consider two points on the graph, for example, when the number of hats ordered changes from 0 to 10, the cost changes from approximately 35 to approximately 210 ((210 - 35=175)). So it tells us that when the number of hats ordered increases by 10, the total cost increases by approximately $175.

All of the statements a, b, c and d are correct interpretations of the graph.

Answer:

a. It tells us that there is a fixed cost of approximately $35 for ordering hats. b. It tells us the amount that the total cost increases for each additional hat ordered. c. It tell us that when 9 hats are ordered, the total cost is approximately $160. d. It tells us that when the number of hats ordered increases by 10, the total cost increases by approximately $175.