Please all parts Will definitely upvote KAssume that the following has a linear cost function.Fixed Cost Marginal Cost per item Item Sells For$600$13$35Find the following.(a) the cost function(b) the revenue function(c) the profit function(d) the profit on 98 items(a) The cost function is C(x) = -(Simplify your answer. Do not include the $ symbol in your answer.)(b) The revenue function is R(x) =].(Simplify your answer. Do not include the $ symbol in your answer.)(c) The profit function is P(x) = .(Simplify your answer. Do not include the $ symbol in your answer.)(d) The profit on 98 items is $.(Simplify your answer.)

The fixed cost is $600. The marginal cost per item is $13. The item sells for $35.…

Answered: Fixed Cost Marginal Cost per item Item…

Fixed Cost Marginal Cost per item Item Sells For $600 $13 $35 Find the following. (a) the cost function (b) the revenue function (c) the profit function (d) the profit on 98 items

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter4: Extent (how Much) Decisions

Section: Chapter Questions

Problem 4.2IP

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Question

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Please all parts

Will definitely upvote

K
Assume that the following has a linear cost function.
Fixed Cost Marginal Cost per item Item Sells For
$600
$13
$35
Find the following.
(a) the cost function
(b) the revenue function
(c) the profit function
(d) the profit on 98 items
(a) The cost function is C(x) = -
(Simplify your answer. Do not include the $ symbol in your answer.)
(b) The revenue function is R(x) =].
(Simplify your answer. Do not include the $ symbol in your answer.)
(c) The profit function is P(x) = .
(Simplify your answer. Do not include the $ symbol in your answer.)
(d) The profit on 98 items is $.
(Simplify your answer.)

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