Rafael estimates that it costs $14 to produce each unit of a . particular commodity that sells for $23 per unit. There is also a . ﬁxed cost of $1,200. . 1 Express the cost C (x ), the revenue R (x ) and the proﬁt P (x )

Question

18-10-2016
Business

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Rafael estimates that it costs $14 to produce each unit of a . particular commodity that sells for $23 per unit. There is also a . ﬁxed cost of $1,200. . 1 Express the cost C (x ), the revenue R (x ) and the proﬁt P (x )

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Please help with the answers

taskmasters taskmasters · Answer 1 · 2016-10-28T08:16:29-04:00

Most of the information's required for solving this question is already given. based on those information's the answer can be easily deduced.

Cost of producing 1 unit = $14
Selling price for 1 unit = $23
Fixed cost = $1200
Then
Cost C (x ) = 1200 + 14x
Revenue R (x ) = 23x
Proﬁt P (x ) = 23x - 1200 - 14x
= 9x - 1200

I hope that the procedure is clear enough for you to understand and the answer has actually come to your desired help.