Typical supply and demand relationships state that as the number of units for sale increases, the market price decreases. Assume that the market price, p, and the number of units for sale, x, are related by the demand equation:
Assume that the cost, C(x), of producing x items is governed by the equation
and the revenue, R(x), generated by selling x units is governed by
a. Write the cost as a function of price p.
b. Write the revenue as a function of price p.
c. Write the profit as a function of price p.

Question

Typical supply and demand relationships state that as the number of units for sale increases, the market price decreases. Assume that the market price, p, and the number of units for sale, x, are related by the demand equation:
  Assume that the cost, C(x), of producing x items is governed by the equation
  and the revenue, R(x), generated by selling x units is governed by
  a. Write the cost as a function of price p.
b. Write the revenue as a function of price p.
c. Write the profit as a function of price p.

Quizplus · Accepted Answer

The Answer of Typical supply and demand relationships state that as the number of units for sale increases, the market price decreases. Assume that the market price, p, and the number of units for sale, x, are related by the demand equation:
  Assume that the cost, C(x), of producing x items is governed by the equation
  and the revenue, R(x), generated by selling x units is governed by
  a. Write the cost as a function of price p.
b. Write the revenue as a function of price p.
c. Write the profit as a function of price p.

Typical Supply and Demand Relationships State That as the Number