I am stuck on this assignement, please help!!
Suppose you start your own business. Determine a product your business will manufacture or produce. The chosen product must be a general description, for example a smartphone, and not a specific brand or item, for example an iPhone 8. Do some informal research to determine a reasonable cost of producing one unit of the product. The restriction on this is that the cost per unit must be between $10 and $330. Suppose total fixed costs including rent and utilities for your business are $2375 per month. Using the cost per unit that you determined, construct a linear cost function, C(x), for your product. Let x represent the quantity of units of your product demanded each month and let p represent the price per unit at which you sell the product, in dollars. (Note that you are not choosing a value for p just yet, but will solve for this value later, based on your company's current production level.) Let the price - demand equation be given by the function, p = -0.04x + 340. Use this equation to determine the feasible range of units demanded per month (i.e. what is the smallest number of products you could feasibly sell and what is the largest number of products you could feasibly sell in a month). Construct the revenue and profit functions, R(x) and P(x), for your product. Determine the breakeven points and interprt your results. What production levels will cause your company to make profit? What production levels will cause your company to incur a loss? Include a graph of the revenue, and cost functions to support the break-even points that you found and label the break-even points on your graph using coordinates. What price should the company charge for each unit to maximize revenue? What is the maximum revenue? Justify your answer by including what information you've collected so far that lead you to your conclusion. Finally, determine the optimal production level that will maximize profits and find the maximum profit that your company could achieve. Show that you have found the maximum profit in two ways: algebraically and graphically. Determine the revenue and cost at this optimal production level. Use the price - demand equation to determine what price should you sell each unit so that you can maximize profit? Draw some conclusions about your business's optimal operations. You should conclude your report with a brief summary and mention how you will apply these concepts in the future