Cost, Revenue, and Profit Repeat Exercise 101 for revenue and cost models given by
and
Did the profit increase or decrease? Explain why.
To calculate: Whether the profit increase or decrease over the 10 years where the previous revenue was
Given information:
The revenue is
Formula used:
Profit can be calculate as
Change in profit can be calculated as,
Calculation:
Consider the revenue model
To determine the profit, subtract revenue from the cost as shown below:
To find approximate profit over the ten year,
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