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Let the demand function for a product be given by the function D(q) 1.7q | 290, where q is the quantity of items in demand
Let the demand function for a product be given by the function D(q) 1.7q | 290, where q is the quantity of items in demand and D)(q) is the price per item, in dollars, that can be charged when q units are sold. Suppose fixed costs of production for this item are $4, 000 and variable costs are $8 per item produced. If 158 items are produced and sold, find the following: A) The total revenue from selling 158 items (to the nearest penny). Answer: 5 B) The total costs to produce 158 items (to the nearest penny). Answer: 5 () The total profits to produce 158 items (to the nearest penny. Profits may or may not be negative. ). Answer: S
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