Question
Typical supply and demand relationships state that as the number of units for sale increases, the market price decreases. Assume that the market price p
Typical supply and demand relationships state that as the number of units for sale increases, the market price decreases. Assume that the market price p and the number of units for sale x are related by the demand equation:
a. Write the cost as a function of price p.
b. Write the revenue as a function of price p.
c. Write the profit as a function of price p
P = 3000 - 1/2 Assume that the cost C(x) of producing x items is governed by the equation C(x) = 2000 + 10x and the revenue R(x) generated by selling x units is governed by R(x) = 100x
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Accounting for Decision Making and Control
Authors: Jerold Zimmerman
8th edition
78025745, 978-0078025747
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