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QUESTION

1. The Ice Cream Lovers Society decided to open up an ice cream stand during the summer months. They calculated that it would cost them $0.80 to make...

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1. The Ice Cream Lovers Society decided to open up an ice cream stand during the summermonths. They calculated that it would cost them $0.80 to make a scoop of ice cream and $350a month to operate the stand. They hired a research team who determined that the price- demand function given in dollars is p (x) = 8 — 0.02x where x is the number of scoops sold.a. Find the revenue function]? (x). b. Grath (x)on the coordinate plane provided on the back of the page. c. Find the value of x that produces the maximum revenue.d. What is the maximum revenue? e. What is the price per scoop of ice cream that produces the maximum revenue? f. Find the cost function C (x) that describes the monthly costs of operating the ice cream stand. g. Graph C (x) onto the same coordinate plane as R (x) h. Find the break—even points to the nearest scoop. i. For what values of xwill a loss occur? A profit?
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