Jasmine decides to make and sell jelly cups. It costs jasmine Rs.1000 to set up and Rs.50 per cup made. She decides to sell each cup for 150. By using this information, answer the following questions: A) Write and equation for jasmine's revenue, cost and profit functions? B) Graph each function on a set of axes? C) Find the breakeven point from these graphs? ( D) How many jelly cups will jasmine need to sell in order to make a profit? (E) If jasmine wishes to make a profit of 50, how many jelly cups does she need to sell?

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Form Utility

The term utility in general refers to the satisfaction earned from usage of a particular product or service. Utility always plays an important role because it influences various important elements like demand & thereby the price of the good or service as well. Though utility is not easy to measure, various types of economic models can be used indirectly. There can be various types of utilities like economic utility, marginal utility, cardinal utility, form utility.