The functions of variables are important in business applications in the real world. Particularly important variables are profit, revenue, and cost. Given the equationz=f(x,y),explain the following:

A) What does x, y, and z represent.

B) What does (x,y) represent.

C) What doesf(x,y) represent.

D) Using the real-life application below, determine the following:

Suppose a small manufacturing company produces a standard type of surfboard. If fixed costs are $700 per week, standard type of surfboard variable costs are $70 per board produced, and the high-performance competition surfboard variable costs are $100 per board, find C(14,7) whenC(x,y) = 700 + 70x + 100y.