bakery finds that the price they can sell cakes is given by the function p = 580 10x where x is

the number of cakes sold per day, and p is price. The total cost function of the company is given

by c = (30+5x)

2

where x is previously defined, and c is total cost.

A. Find the revenue and marginal revenue functions [Hint: revenue is price multiplied by

quantity i.e. revenue = price

quantity] (3 marks)

B. Find the fixed cost and marginal cost function [Hint: fixed cost does not change with

quantity produced] (3 marks)

C. Find the profit function [Hint: profit is revenue minus total cost] (2 marks)

D. Find the quantity that maximizes profit