Assume that a company has fixed costs of $8000, and it costs $220 to produce an item. The price function for the item is p(x)=200-x
1) What is the cost function?
2) What is the revenue function?
3) What is the maximum revenue?
4) What is the profit function?
5) What are the break-even points?
6) Sketch a graph of the cost and revenue functions on the same graph. Mark the break even points on the graph. (use the graph on the next page)