The contractor would have to work for 20 hours on the site to earn $555 total pay
What is total cost function?
Total cost function is the sum of the fixed charge, which is fixed cost to the person paying the contractor when the contractor visits the site and charge per hour multiplied by the number of hours spent working
TC=a+bX
TC=total cost=$555
a=fixed charged=$55
b=charge per hour=variable element of contractor's pay=$25
X=number of hours spent working=unknown
$555=$55+$25X
$555-$55=$25X
$500=$25*X
X=$500/$25
X=20
The contractor needs to work for 20 hours in order to earn a total pay of $555
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