Question

The cost of owning a home includes both fixed costs and variable utility costs. Assume that it costs $4,095.00 per month for mortgage and insurance payments and it costs an average of $4.77 per unit for natural gas, electricity, and water usage. Determine a linear equation that computes the annual cost of owning this home if x utility units are used. A. $y = -4.77x + 49,140$ B. $y = 4.77x + 49,140$ C. $y = 4.77x + 4095$ D. $y = -4.77x + 4095$

          The cost of owning a home includes both fixed costs and variable utility costs. Assume that it costs $4,095.00 per month for mortgage and insurance payments and
it costs an average of $4.77 per unit for natural gas, electricity, and water usage. Determine a linear equation that computes the annual cost of owning this home if
x utility units are used.
A. $y = -4.77x + 49,140$
B. $y = 4.77x + 49,140$
C. $y = 4.77x + 4095$
D. $y = -4.77x + 4095$

The cost of owning a home includes both fixed costs and variable utility costs. Assume that it costs 4,095.00 per month for mortgage and insurance payments and
it costs an average of4.77 per unit for natural gas, electricity, and water usage. Determine a linear equation that computes the annual cost of owning this home if
x utility units are used.
A. y = -4.77x + 49,140
B. y = 4.77x + 49,140
C. y = 4.77x + 4095
D. y = -4.77x + 4095

Added by Michelle F.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Adi S

04/04/2023

Step 1

00 per month, which means the annual fixed cost is 12 times that amount, so it is $4,095.00 * 12 = $49,140.00. Show more…

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The cost of owning a home includes both fixed costs and variable utility costs. Assume that it costs $4,095.00 per month for mortgage and insurance payments and it costs an average of $4.77 per unit for natural gas, electricity, and water usage. Determine a linear equation that computes the annual cost of owning this home if x utility units are used. A. y=-4.77x+49,140 B. y=4.77x+49,140 C. y=4.77x+4095 D. y=-4.77x+4095 x utility units are used A.y=-4.77x+49,140 OB.y=4.77x+49,140 OC.y=4.77x+4095 OD.y=-4.77x+4095