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3) You open a hat stand in the mall with an initial start-up cost of $1500 plus 50 cents for every hat you stock your booth with. a) What is your cost function? The cost for producing 'x' items, C(x) = You decide to charge $5 for each hat. b) What is your revenue function? The revenue from selling 'x' items, R(x) = %3D c) What is your profit function? The profit from selling 'x' items, P(x) = %3D

3) You open a hat stand in the mall with an initial start-up cost of $1500 plus 50 cents for every hat you stock your booth with. a) What is your cost function? The cost for producing 'x' items, C(x) = You decide to charge $5 for each hat. b) What is your revenue function? The revenue from selling 'x' items, R(x) = %3D c) What is your profit function? The profit from selling 'x' items, P(x) = %3D

Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter4: Polynomial And Rational Functions
Section4.6: Variation
Problem 11E
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un held ne 2) What equation shows the relationship between the profit function, cost function and revenue function? Prof it function EZ) - cost functionE Revenue Punctiani (X)2=(×)フ-(X7d 3) You open a hat stand in the mall with an initial start-up cost of $1500 plus 50 cents for every hat you stock your booth with. a) What is your cost function? The cost for producing 'x' items, C(x) = You decide to charge $5 for each hat. b) What is your revenue function? The revenue from selling 'x' items, R(x) = c) What is your profit function? The profit from selling 'x' items, P(x) = d) How much profit will you make if you sell 1000 hats? e) How many hats do you need to sell in order to break even?
Transcribed Image Text:un held ne 2) What equation shows the relationship between the profit function, cost function and revenue function? Prof it function EZ) - cost functionE Revenue Punctiani (X)2=(×)フ-(X7d 3) You open a hat stand in the mall with an initial start-up cost of $1500 plus 50 cents for every hat you stock your booth with. a) What is your cost function? The cost for producing 'x' items, C(x) = You decide to charge $5 for each hat. b) What is your revenue function? The revenue from selling 'x' items, R(x) = c) What is your profit function? The profit from selling 'x' items, P(x) = d) How much profit will you make if you sell 1000 hats? e) How many hats do you need to sell in order to break even?
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