Suppose a ceiling fan manufacturer has the total cost function C(x) = 35x + 1200 and the total revenue function R(x) = 65x. (a) What is the equation of the profit function P(x) for this commodity? P(x) = (b) What is the profit on 20 units? P(20) = Interpret your result. The total costs are less than the revenue. The total costs are more than the revenue. The total costs are exactly the same as the revenue. (c) How many fans must be sold to avoid losing money? fans
Suppose a ceiling fan manufacturer has the total cost function C(x) = 35x + 1200 and the total revenue function R(x) = 65x. (a) What is the equation of the profit function P(x) for this commodity? P(x) = (b) What is the profit on 20 units? P(20) = Interpret your result. The total costs are less than the revenue. The total costs are more than the revenue. The total costs are exactly the same as the revenue. (c) How many fans must be sold to avoid losing money? fans
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Suppose a ceiling fan manufacturer has the total cost function
C(x) = 35x + 1200
and the total revenue function
R(x) = 65x.
(a) What is the equation of the profit function P(x) for this commodity?
Interpret your result.
(c) How many fans must be sold to avoid losing money?
fans
P(x) =
(b) What is the profit on 20 units?P(20) =
Interpret your result.
The total costs are less than the revenue. The total costs are more than the revenue. The total costs are exactly the same as the revenue.
(c) How many fans must be sold to avoid losing money?
fans
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