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