A small company produces organic cookies. When the price is $6.00 per dozen, the average daily sales has been 72 dozen cookies. When the price was decreased to $3.00 per dozen, the average daily sales increased to 110 dozen cookies. Assume that daily cookie sales is linearly related to price per dozen. Each dozen cookies has a variable cost of 87 cents to make, plus additional daily fixed costs of $84.00 Find a function that models the daily profit in terms of the sales x in dozens of cookies. P(z) = Now, find the daily profit when 44 dozen cookies are manufactured and sold. 2$ Round all answers to the nearest hundredth.

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Isocost and Isoprofit Curve Analysis

An isocost curve in the production theory that is a crucial part of economics depicts different combinations of factor inputs at a given market cost. In other words, this shows all the combinations of production factors that cost the same for the firm to employ. Usually, this can be depicted as a downward sloping straight line when the firms act as the price-takers in the factor markets. The slope of this mainly depicts the relative prices of different production factors.