00:01
So we're told that this audubon society is going to plan their annual fundraiser where they charge 58 cents per serving of pasta.
00:07
Now, we're told that their only expenses, so their cost are 20 cents per each student or for each serving, plus an additional $380 to rent the facility.
00:17
So in part a, what we want to do is write down the associated cost function, so see events.
00:23
Well, remember, they have that flat fee of $380 plus the additional 20 cents per serving.
00:28
But we don't know how many servings, that's what we're calling x.
00:31
So we'd have 0 .20 times x.
00:34
So this would be our cost function.
00:36
Now, in part b, we want to write down the revenue function.
00:39
Well, the revenue is what we're going to earn.
00:41
Well, keep in mind, they're charging 58 cents per serving.
00:45
So what we would do is multiply 0 .58 times the number of servings, which we don't know that's what we're calling x.
00:51
So it would be 0 .58x.
00:54
Next, part c.
00:55
We want to come up with our profit function.
00:58
Well, remember, to find the profit, what we wouldn't have to do is take our revenue, so r of x, and we take away all of our expenses, c of x.
01:06
So we take what we earn and subtract away our expenses...