A manufacturer has a monthly fixed cost of $100,000 and a production cost of $12 for each unit produced. The product sells for $20/unit. (a) What is the cost function, C(x)? (b) What is the revenue function, R(x)? (c) What is the profit function, P(x)?
A manufacturer has a monthly fixed cost of $100,000 and a production cost of $12 for each unit produced. The product sells for $20/unit. (a) What is the cost function, C(x)? (b) What is the revenue function, R(x)? (c) What is the profit function, P(x)?
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter3: Functions
Section3.3: More On Functions; Piecewise-defined Functions
Problem 88E
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A manufacturer has a monthly fixed cost of $100,000 and a production cost of $12 for each unit produced. The product sells for $20/unit.
(a) What is the cost function, C(x)?
(b) What is the revenue function, R(x)?
(c) What is the profit function, P(x)?
(d) Compute the profit (loss) corresponding to production levels of 5,000 and 25,000 units.
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