A lawn service company has fixed monthly costs of $500 and variable costs (labor, gasoline, and depreciation) of $40 per lawn. If the service charges $60 per lawn,a. Write a cost function representing the cost C(x) to the company to service x lawns per month.b. Write a revenue function representing the revenue R(x) to service x lawns per month.c. Determine the number of lawns that must be serviced in a month for the company to break even.

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A:

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Cost of Production

In economic theory, production costs are the costs incurred by an industrial organization when it engineers a project or provides a service that generates revenue and benefits. Labor costs, raw materials, consumable manufacturing costs, and general overhead sum up, accounting for production costs. Total cost data is calculated by combining total direct costs of materials, labor costs, and total production costs.