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After graduating from UT, you open a restaurant business. Please, identify the product/food you sell. You determine your every month fixed cost (rent, utility, insurance,

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After graduating from UT, you open a restaurant business. Please, identify the product/food you sell. You determine your every month fixed cost (rent, utility, insurance, employee salary) to operate this business plus variable cost of producing each meal. You will charge an average of say $15-$50 dollar per meal and $5 $10 for drinks. Note: you get to choose a dollar amount for the food and drink that you will charge. Food cost is about 1/3 of your sales price and drink cost is 1/10 of your sales price. 1) Formulate a function C(x) for the total cost of selling x number of meals and drinks per month. Note: you will need to determine the fixed and variable cost on your own. Formulate a function R(x) for the total revenue of selling x number meals and drinks per month. Formulate a function P(x) for the total profit of selling x number meals and drinks per month. 2) What will be the breakeven point (find x, the number of meals/drinks sold per month)? 3) How many meals/drink do you have to sell per month to make a profit of $3,000? 4) You try to determine what price to charge to attract more customers to your restaurant. Given the average price you set for y dollars, the number of customers per month is 3 times the break-even point on x meals sold. For every SI decrease on meal price adds 5% (you will need to calculate your own number) more customers to the average number. Write down a revenue function

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