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Express Lunch operates a small food van that sells a variety of sandwiches and beverages. Total fixed costs are $20,000 per month. Last month total

Express Lunch operates a small food van that sells a variety of sandwiches and beverages. Total fixed costs are $20,000 per month. Last month total variable costs were $8,000 when total sales were $32,000.

Required

(a)What is the the algebraic expression for the cost function?

(b)What assumptions do we make when we develop this cost function?

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