Please answer with details on how to do it. A small company manufactures a certain product. Variable costs are $20 per unit and fixed  costs are $10,875. The price demand relationship for this product is   P = -0.25D + 250, where P is the unit sales price of the product and D is the annual demand.  Total cost = fixed cost + Variable cost, TC = CF + CV  Revenue = Demand x Price, TR = D x P Profit = Total Revenue – Total Cost, P = TR – TC   a) Develop the equations for the total cost and total revenue. Find the breakeven quantity c) How many units must be sold to maximize profit?  What is the company’s maximum profit?

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Cost of Production

In economic theory, production costs are the costs incurred by an industrial organization when it engineers a project or provides a service that generates revenue and benefits. Labor costs, raw materials, consumable manufacturing costs, and general overhead sum up, accounting for production costs. Total cost data is calculated by combining total direct costs of materials, labor costs, and total production costs.