Problem 629

Find expressions for the Revenue, Cost, and Profit from selling x thousand items.

Item PriceFixed CostVariable Cost
195,503 -3x² + 3480x – 100

 

Solution:-

 

R=7000x (7 dollars per 1000x items)

C=195503-3x²+3480x-100 (fixed cost+variable cost)

C=-3x²+3480x+195,403

P=7000x-(195403-3x²+3480x)

=7000x-195403+3x²-3480x

=3x²-3520x-195,403