Question
Until recently, hamburgers at the city sports arena cost$ 2.21 $ 2.21 each. The food concessionaire sold an average of2691 2691 hamburgers on game night.
Until recently, hamburgers at the city sports arena cost$
2.21
$
2.21
each. The food concessionaire sold an average of2691
2691
hamburgers on game night. When the price was raised to$
3.45
$
3.45
, hamburger sales dropped off to an average of1520
1520
per night. The concessionaire's fixed costs were$
4936.51
$
4936.51
per night and the variable cost was$
0.85
$
0.85
per hamburger.
A) Assume that the relationship between pricep
p
and demandx
x
is linear. Find the price-demand function,p
(
x
)
p
(
x
)
.
p
=
p
(
x
)
=
p
=
p
(
x
)
=
(Round all values to three decimal places as needed.)
B) Find the revenue functionR
(
x
)
R
(
x
)
.
R
(
x
)
=
R
(
x
)
=
C) Assume that the cost function is linear. Find the cost function,C
(
x
)
C
(
x
)
.
C
(
x
)
=
C
(
x
)
=
D) The food concessionaire will break even if they make and sellorhamburgers.
(List your answers in ascending order. Round all values to the nearest whole number.)
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