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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.