A factory produces beach umbrellas. They have a fixed cost they must pay no matter how many umbrellas they produce, and a variable cost they must pay for each umbrella they produce. The cost of producing umbrellis is modeled by the function C (x) = 2.83x+1, 350. Identify and interpret the initial value. (1 point)
O The initial value of 1,350 represents the fixed cost.
O The initial value of 2.83 represents the variable cost.
O The initial value of 1,350 represents the variable cost.
O The initial value of 2.83 represents the fixed cost.
The correct answer is: The initial value of 1,350 represents the fixed cost.
In the given cost function C(x) = 2.83x + 1,350, the constant term of 1,350 represents the fixed cost. This means that regardless of the number of umbrellas produced (x), the factory must incur a cost of 1,350.