Find expressions for the Revenue, Cost, and Profit from selling x thousand items.
Item Price Fixed Cost Variable Cost
7.00, 195,503, +3480x -100
Solution
R= 7000x (7 dollars per 1000x items)
C = 195503 – + 3480x – 100 (fixed cost + variable cost)
C = + 3480x + 195,403
P = 7000x –(195403 – + 3480x)
= 7000x – 195403 + – 3480x
= – 3520x – 195,403