A company that manufactures bicycles has a fixed cost of $100,000. It costs $100 to produce each bicycle. The selling price is $300 per bike.let x represent the number of bicycles produced and sold.Describe business ventures. a. Write the cost function, C.b. Write the revenue function, R.c. Determine the break-even point. Describe what this means

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Cost of Production

The entire idea of the cost of production or production cost is applied corresponding, or we can say that it is related to monetary cost. Money cost refers to any money expenditure which the firm or supplier, or producer undertakes in purchasing or hiring factor of production or factor services.