Cost, Revenue, and Profit A company invests $98,000 for equipment to produce a new product. Each unit of the product costs $12.20 and is sold for $16.98. Let x be the number of units produced and sold. (a) Write the total cost C as a function of x. C(x) = 98000+16.98x (b) Write the revenue R as a function of x. R(x) = 207.156 (c) Write the profit P as a function of x. P(x) = 4.78

Given:

Investment on equipment = $98,000

Cost of each unit = $12.20

Selling price of each unit = $16.98.

To find:

(a) The total cost C as a function of x.

(b) The revenue R as a function of x.

(c) The profit P as a function of x.

Solution:

Let x be the number of units produced and sold.

We have,

Fixed cost = $98,000

Variable cost = $12.20x

Total cost = Fixed cost + Variable cost

Therefore, the cost function is .

Selling price of each unit = Revenue from each unit =  $16.98.

Total revenue = Revenue from x units

Therefore, the revenue function is .

Profit = Revenue - Cost

Therefore, the profit function is .

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step-by-step explanation:

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