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Hi, I'm studying for my final tomorrow and need help. Can you please help me with this question? 1. Suppose you are producing items with
Hi, I'm studying for my final tomorrow and need help. Can you please help me with this question?
1. Suppose you are producing items with a variable cost per item of $0.65 and fixed costs of $200. Suppose that you can sell the item for $0.85 per item.
(a) Find the cost, revenue and profit functions.
(b) Find the number of items required to reach the break-even point.
(c) Find the average cost per item if you produce 2500 items.
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