Question
We operate a small grocery store. Daily demand for grapefruit is q-97-20p at unit price p. Assume our cost function is linear and we pay 25
cents per grapefruit. If we know maximum daily profit is S50, what are our fixed costs?
Fixed costs
This is a tough one, requires a good amount of thought and algebra)
dollars

Image Transcription

We operate a small grocery store. Daily demand for grapefruit is q-97-20p at unit price p. Assume our cost function is linear and we pay 25 cents per grapefruit. If we know maximum daily profit is S50, what are our fixed costs? Fixed costs This is a tough one, requires a good amount of thought and algebra) dollars

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