Sergio Lopez is a publisher of Latin American poetry. His fixed cost is $525, and the cost to produce each individual copy of his book is $3.50. Currently, Sergio is selling these books for $6 each. So far this year, he has produced x a. Write a linear cost function C for Sergio’s book production, in terms of x. b. Find the linear revenue function R for selling x copies of the book. Remember that P(x) = (price)x. c. Use and 1b. to determine the profit function P for selling x books. Write the formula in simplified form. d.Use your answer for 1c to determine the profit, in dollars, for selling 300 books.
Sergio Lopez is a publisher of Latin American poetry. His fixed cost is $525, and the cost to produce each individual copy of his book is $3.50. Currently, Sergio is selling these books for $6 each. So far this year, he has produced x a. Write a linear cost function C for Sergio’s book production, in terms of x. b. Find the linear revenue function R for selling x copies of the book. Remember that P(x) = (price)x. c. Use and 1b. to determine the profit function P for selling x books. Write the formula in simplified form. d.Use your answer for 1c to determine the profit, in dollars, for selling 300 books.
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 8SQ
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Sergio Lopez is a publisher of Latin American poetry. His fixed cost is $525, and the cost to produce each individual copy of his book is $3.50. Currently, Sergio is selling these books for $6 each. So far this year, he has produced x
a. Write a linear cost function C for Sergio’s book production, in terms of x.
b. Find the linear revenue function R for selling x copies of the book. Remember that P(x) = (price)x.
c. Use and 1b. to determine the profit function P for selling x books. Write the formula in simplified form.
d.Use your answer for 1c to determine the profit, in dollars, for selling 300 books.
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