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QUESTION

As the number of units sold increases, market price decreases (supply and demand). Suppose that p = 5000 - 0.75x , where p is the market price and x...

Suppose that p = 5000 - 0.75x , where p is the market price and x is the number of

units sold. Suppose further that the cost of producing x items is given by

C(x) = 3000 + 15x, and that the revenue from the sale of x units is given by

R(x) = 120

express cost as a function of price, p.

express revenue as a function of price, p.

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