Suppose you run a manufacturing business that is involved


Suppose you run a manufacturing business that is involved in manufacturing and selling a single product. The fixed cost to run the business is $15,000 and the constant marginal cost is $7.50 per unit. The sale price of your product is $15 per unit.

(a) Find the revenue function, total cost function and profit function. (Let x be the output level)

(b) Using the functions in part (a), find the breakeven point.

(c) State the condition(s) under which you can make a profit

Request for Solution File

Ask an Expert for Answer!!
Business Economics: Suppose you run a manufacturing business that is involved
Reference No:- TGS01120367

Expected delivery within 24 Hours