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I need help please. A company has a fixed cost of $20,000 and a production cost of $50 for each watch it manufactures. Each watch
I need help please.
A company has a fixed cost of $20,000 and a production cost of $50 for each watch it manufactures. Each watch sells for $150. a) What are the cost, revenue, and profit functions? b) Find the profit (loss) corresponding to production levels of 150 and 250 units, respectively. c) Sketch a graph of the cost and revenue functions. Be sure to label the functions, axes, and any critical points. d) Find the break-even point for the company algebraically. (Hint: Set the cost and revenue functions equal to each other and solve for both x and y.)Step by Step Solution
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