Mathematics, 17.12.2020 22:40 tishfaco5000
Earl’s Biking Company manufactures and sells bikes. Each bike costs $40 to make, and the company’s fixed costs are $5000. In addition, Earl knows that the price of each bike comes from the price function, p(x) = 300 -2x. (x = quantity produced)
Determine:
1. The company’s revenue function, R(x). (10%)
R = (quantity) ( price)
R = x ( 300-2x)
R = 300x - 2x2 Answer
2. The company’s expense function, E(x). (30%)
3. The company’s profit function, P(x)
4. If the company produced 750 bikes in a month, how much profit would the company make?
Answers: 1
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