The cost C and the revenue R for a brokerage firm depend on the number T of transactions executed. (Both C and R are measured in dollars.) It costs $710 per day to keep the office open, and brokers are paid an average of $24 per transaction. Also, $34 in fees are collected for each transaction.

The cost C and the revenue R for a brokerage firm depend on the number T of transactions executed. (Both C and R are measured in dollars.) It costs $710 per day to keep the office open, and brokers are paid an average of $24 per transaction. Also, $34 in fees are collected for each transaction.

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Question

The cost C and the revenue R for a brokerage firm depend on the number T of transactions executed. (Both C and R are measured in dollars.) It costs $710 per day to keep the office open, and brokers are paid an average of $24 per transaction. Also, $34 in fees are
collected for each transaction.
(a) Find a formula that gives C as a function of T.
C(T) =
(b) Find a formula that gives R as a function of T.
R(T) =

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