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Plot separate graphs for each of the three contracts

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Question - The Pacific Corporation operates car rental agencies at more than 20 airports.  Customers can  choose from one of three contracts for car rentals of one day or less:

  • Contract 1: $50 for the day
  • Contract 2: $30 for the day plus $0.20 per mile travelled
  • Contract 3: $1 per mile traveled

1. Plot separate graphs for each of the three contracts with costs on the vertical and miles traveled on the horizontal axis.

2. Express each contract as a linear const function of the form y = a + bX.

3. Identify each contract as a variable, fixed, or mixed-cost function.

Reference no: EM131787225

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