Question

cost, revenue, and profit
A company produces a toy for which the variable cost is $12.30 per unit and the fixed costs are $98,000. The toy sells for $17.98. Let x be the number of units produced and sold. (a) The total cost for a business is the sm of the variable cost and the fixed costs. Write the total cost for C as a function of the number of units produced. (B) Write the revenue R as a function of the number of units sold. (C) Write the profit P as a function of the number of units sold. (Note: P = R - C).

Answer 1

It kinda spells it out for you how to do it. What part are you stuck on?

Answer 2

For a) total cost = variable cost + fixed cost.
variable cost = $12.30x, etc.

Answer 3

@emb27 start with:
a) total cost = variable cost + fixed cost
C = 12.30x + ...

Answer 4

Then how do I write the function for B & C?

Answer 5

b) Write the revenue R as a function of the number of units sold.
R = 17.98x

Answer 6

Can you finish the last one?

Answer 7

Known the important concept of Profit:
P = R - C
= .... ?

Answer 8

P = 17.98(12.30)
$221.15

Answer 9

Did you read the above posts?

Answer 10

Yes. I answered what I thought profit was. P = 17.98(12.30) = $221.15. Correct?

Answer 11

What kind of operation is it? P = R - C

Answer 12

What's R?
What's C?