Question 1 Impact of changing price upon revenue and profit A factory worker assembles remote controlled cars. Each remote control car requires electronic parts, four wheels, an outer casing and a remote control with long-life batteries. The worker uses three brands of electronic parts - Betta, Mega and Ultra. Once the remote control cars and their remote controls are assembled, they are distributed for sale. Cars and remotes are assembled and sold as follows: Cost of electronic parts Cost of outer casing Cost of wheels (for two) Cost of remote control including batteries) Sale price range Betta $25 SIS $6,50 S12.50 Mega S32 $21 $6.75 S16 Ultra $45 $24 $7.50 $17.50 $70 - $90 585 - $100 $105 - $125 In addition to this above, there are also fixed production costs of S120 for Betta, S180 for Mega and $225 for Ultra Your task is to investigate the cost, revenue and profitussociated with each type of remote control car, Steps to complete to undertake the investigation: 1. Find the total cost and total revenue functions for each type of remote control car and plot these functions on an Excel graph (ie. you will produce 3 graphs, each with two lines). For the revenue function, select a price for each car within the price ranges in the table above 2. Find the points of intersection between the cost and revenue function lines using algebra 3. Profit will also differ for each remote control car. Find the profit functions and the break-even point for each remote control car. 4. Summarise your findings in 200 words in your conclusion: Explain the meaning and significance of any points of intersection o