QUESTION #10 Triangle Ice Company sells 10-lb bags of ice to retailers for $1.10 per bag. The production cost per bag (including delivery to the retailer) is $0.80 and the weekly fixed costs are $8400. a. Determine the revenue R from selling x bags of ice in a week. b. Determine the cost C of producing and delivering x bags per week. c. Determine the profit P from selling and delivering x bag in a week.

QUESTION #10 Triangle Ice Company sells 10-lb bags of ice to retailers for $1.10 per bag. The production cost per bag (including delivery to the retailer) is $0.80 and the weekly fixed costs are $8400. a. Determine the revenue R from selling x bags of ice in a week. b. Determine the cost C of producing and delivering x bags per week. c. Determine the profit P from selling and delivering x bag in a week.

Microeconomics: Private and Public Choice (MindTap Course List)

16th Edition

ISBN:9781305506893

Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson

Chapter11: Price-searcher Markets With High Entry Barriers

Section: Chapter Questions

Problem 14CQ

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