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