A company can produce 25 items for a total cost of $ 2250 with a fixed cost of $ 1000 and a selling price of $ 75. Find the cost, revenue, and profit function. Find the break even point. Sketch on the same graph the revenue and cost function and clearly label where the break even point is. When does the company have profit? Explain.

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
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Chapter1: Making Economics Decisions
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A company can produce 25 items for a total cost of $ 2250 with a fixed cost of $ 1000 and a selling price of $ 75.

  1. Find the cost, revenue, and profit function.
  2. Find the break even point.
  3. Sketch on the same graph the revenue and cost function and clearly label where the break even point is.
  4. When does the company have profit? Explain.
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