SOLUTION: How would you write a function that represents the profit, using the revenue and cost functions?
Info: Carol Coffmon owns a store where she sells birdhouses. The revenue from b
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-> SOLUTION: How would you write a function that represents the profit, using the revenue and cost functions?
Info: Carol Coffmon owns a store where she sells birdhouses. The revenue from b
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Question 1036842: How would you write a function that represents the profit, using the revenue and cost functions?
Info: Carol Coffmon owns a store where she sells birdhouses. The revenue from birdhouse sales is given by The cost of making birdhouses is given by The cost of making birdhouses is given by Her profit is the revenue minus the cost or So the profit function can be defined as
You can put this solution on YOUR website! p(x) = r-(65x+5400)
Revenue in this case is the total pieces sold and is calculated by multiplying x times the selling price.
Cost is represented by variable cost 65 times number of pieces made x plus fixed expenses of 5400
Why is variable cost per unit? Because v.c. is made up of labor per unit, raw material per unit, machine time per unit
What is fixed cost? Costs that don't go away if your production volumes go down. In fact, if you stop producing completely you will still have a lot of the fixed costs like rent and insurance.
