Select an answer (Cost, Revenue, Average Cost, Profit)
Select an answer (31 water coolers per dollar, 31 dollars, 1 water cooler on average, 31 water coolers)
Consider the cost C, revenue R, and profit P functions for producing and selling water coolers.
Revenue, cost, and profit are in dollars.
What does C = 2,300 mean in context?
The cost of producing 31 water coolers is $2,300.
b. Assume that R = 4,800. Use part a. to find P.
P = $2,500.