A company produces a product for which the variable cost is $68.75 per unit and the
Chapter 1, Problem 77(choose chapter or problem)
Business A company produces a product for which the variable cost is $68.75 per unit and the fixed costs are $248,000. The product sells for $99.99. Let x be the number of units produced and sold.
(a) The total cost for a business is the sum of the variable cost and the fixed costs. Write the total cost C as a function of the number of units produced.
(b) Write the revenue R as a function of the number of units sold.
(c) Write the profit P as a function of the number of units sold. (Note: P = R - C.)
(d) Use the model in part (c) to find P(20,000). Interpret your result in the context of the situation.
(e) Use the model in part (c) to find P(0). Interpret your result in the context of the situation.
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