Concept explainers
a .
To write: the total cost C as a function of the number of units produced.
a .

Answer to Problem 67E
Explanation of Solution
Given:
The variable cost for producing the product is $12.30 per unit and the fixed costs are $98,000.
Let x denotes the number of units produced.
And let C represents the total cost of producing x units.
Now, the total cost of producing x units is equal to the sum of fixed cost and the variable cost of x units. Thus,
b.
To write: the equation for the revenue R as a function of the number of units sold.
b.

Answer to Problem 67E
Explanation of Solution
Given:
The product sells for $17.98.
Let x denotes the number of units sold.
Revenue = Price per unit
Since product sells for $17.98 and total x units are sold, so, revenue function is given by:
c.
To find: the equation for the profit P as a function of the number of units sold.
c.

Answer to Problem 67E
Explanation of Solution
Let x denotes the number of units sold.
From part (a), the cost function is given by
From part (b), the revenue function is given by
Now, it is known that,
Profit = Revenue − Cost
Chapter 1 Solutions
EBK PRECALCULUS W/LIMITS
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