Solved: Cost, Revenue, and Profit A company produces a product for which the variable

Chapter 1, Problem 97

(choose chapter or problem)

Cost, Revenue, and Profit A company produces a product for which the variable cost is $12.30 per unit and the fixed costs are $98,000. The product sells for $17.98. Let 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 as a function of the number of units produced. (b) Write the revenue as a function of the number of units sold. (c) Write the profit as a function of the number of units sold. (Note: )

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