A manufacturer has a monthly fixed cost of $47,500 and a
production cost of $7 for each unit produced. The product
sells for $12/unit. Find the following functions (in dollars) and
compute each profit (in dollars).
(a)
What is the cost function?
(b)
What is the revenue function?
(c)
What is the profit function?
(d)
Compute the profit (loss) corresponding to production levels
of 7,000 and 12,000 units.