1.Briefly explain one item that you will be producing and selling in your store.

Gym Shoes

2.How much does the item cost you to produce? Consider the cost of materials and labor. Select an amount between $1 and $50. Round to the nearest dollar.

Cost per item produced =

$ 40

3.How much will you sell the product for? Select an amount between $1 and $100. The sold price must be more than what it costs to produce the item. Round to the nearest dollar.

Price per unit sold =

$ 100

4.Write the cost function, C(x), of producing x amount of items. Assume that you have a fixed cost $5,000. Replace the "?" with the appropriate numbers.

C(x) = fixed cost + (cost per item produced)(x)

C(x) = ? + (?)(x)

5.Write the revenue function, R(x), from the sale of x items. Replace the "?" with the appropriate numbers.

R(x) = (price per item sold)(x)

R(x) = (?)(x)

6.Replace C(x) and R(x) with y. This means that the cost and revenue will be the same. Write the system of equations below.

Y = write equation found for C(x)

Y = write equation found for R(x)