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3 4 B D G H Suppose you start your own business manufacturing and selling a product. Suppose that you are running this business out

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3 4 B D G H Suppose you start your own business manufacturing and selling a product. Suppose that you are running this business out of your home, so you will consider the fixed costs to include your current rent and utilities. After consulting a financial advisor, you find out the following: in 5 Your fixed cost is 1050 dollars per month Your variable cost is 32 per product. 0 If the product is priced at you can make and sell 133.75 45 dollars, units in a month 3 11 If the product is priced at you can make and sell 107.50 66 dollars, units in a month. 5 Now you can find your linear cost function C(x) using the given costs, and create a price demand equation using the two data points (x,p) given above. Your price demand equation should be in the form p = mx + b to describe the relationship between the demand of your product, x, and the consumer price, p, in dollars. Recall that your price-demand equation should be a decreasing linear function. Make sure to use fractions or Integer values, instead of using the decimal approximation. Then find the marginal cost function Cost function: Cx Price-demand equation: D Marginal cost function: C'(x) = Now, use your price-demand equation to write the revenue function to describe your business' total monthly revenue for selling x products. Then find the total profit function, marginal revenue function and marginal profit function. Recall that the cost, revenue and profit functions should be written in terms of x and simplified completely. Again, be sure the coefficients are in exact form using fractions or interer values and avoid using the decimal approximation for the coefficients of each of the functions, Revenue function: R(x) Profit function: P(x) = Marginal revenue function: R'(x) Marginal profit function: PO)

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