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23 January, 21:56

A company manufacturers pet rock, which they sell for $17.98 each. Their fixed costs are $98,000 per year and each rock $12.30 to make. Find their cost, revenue, and profit functions in terms of x

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  1. 23 January, 22:46
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    C (x) = 98000+12.30x R (x) = 17.98x P (x) = 5.68x - 98000

    Step-by-step explanation:

    The cost function is the sum of fixed costs and the cost of making x number of pet rocks:

    C (x) = 98000 + 12.30x

    The revenue is generated by the sale of the rocks. It is the product of selling price and the number sold.

    R (x) = 17.98x

    Profit is the difference between revenue and cost.

    P (x) = R (x) - C (x) = 17.98x - (98000 + 12.30x)

    P (x) = 5.68x - 98000
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