The business venture involves the sale of decorative jewelry cases. It costs the startup $280 to produce 40 jewelry cases a week while it costs $320 to produce 60 decorative cases per week as well. the demand, x, for your product is given as a linear function of price, p, where p(x)=15−0.02x 1.Assume that the total cost C(x),is linearly related to the output x. Find an equation for C(x).Hence, determine the Fixed Cost and Variable Cost for this startup. 2.Form the Revenue and Profit Functions based on the information given. 3.Hence, determine the Break-even points to the nearest whole number and discuss the relationship between the intersection points of the graphs of R(x)and C(x)

The business venture involves the sale of decorative jewelry cases. It costs the startup $280 to produce 40 jewelry cases a week while it costs $320 to produce 60 decorative cases per week as well. the demand, x, for your product is given as a linear function of price, p, where p(x)=15−0.02x 1.Assume that the total cost C(x),is linearly related to the output x. Find an equation for C(x).Hence, determine the Fixed Cost and Variable Cost for this startup. 2.Form the Revenue and Profit Functions based on the information given. 3.Hence, determine the Break-even points to the nearest whole number and discuss the relationship between the intersection points of the graphs of R(x)and C(x)

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter16: Labor Markets

Section: Chapter Questions

Problem 16.7P

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