Question

A pretzel factory has daily fixed costs of $2300. In addition, it costs 10 cents to produce each bag of pretzels. A bag of pretzels sells for $1.70. Complete steps(a)- below Quizzes (a) Find the rule for the cost function (x) that gives the total daily cost of producing x bags of pretzels C(x) = 10x + 2300 (Simplify your answer) (b) Find the rule of the revenue function (x) that gives the daily revenue from selling x bags of pretzels (x) = 1.7% (Simplify your answer) (c) Find the rule of the profit function píx) that gives the daily profit from x bags of pretzels es and lp p(x) = 16x-2300 (Simplify your answer)

Answer 1

a) Fixed cost = $2300

Cost to produce each bag of pretzels = $0.10

Therefore,

Total cost of producing x bags of pretzels is given by

c(x) = 2300 + 0.10x

=> c(x) = 0.10x + 2300

b) Selling price of each bag of pretzels = $1.70

Therefore,

Total revenue earned from selling x bags of pretzels is given by

r(x) = 1.70x

c) We know that

Profit = Revenue - Cost

=> p(x) = r(x) - c(x)

=> p(x) = 1.70x - (0.10x + 2300)

=> p(x) = 1.60x - 2300