Find revenue, profit functions, given price, cost functions

[Malga1968]

If a retail store has a fixed cost of $100 and a variable cost of $200 each and sells its product at a price p= $400 - x:

I calculated the cost function being: C(x) = 200x+100 (I hope this is right)

1. What would the revenue function be?

2. What would the profit function be?

thank you. Malga

 

[skeeter]

Re: Calculus

If a retail store has a fixed cost of $100 and a variable cost of $200 each and sells its product at a price p= $400 - x:

I calculated the cost function being: C(x) = 200x+100 (I hope this is right) it is

1. What would the revenue function be?

revenue = (price)*(number of units sold)

2. What would the profit function be?

profit = revenue - cost

thank you. Malga

 

[Malga1968]

If a retail store has a fixed cost of $100 and a variable cost of $200 each and sells its product at a price p= $400 - x:

I calculated the cost function being: C(x) = 200x+100 (I hope this is right) it is

1. What would the revenue function be?

revenue = (price)*(number of units sold)

Would that mean revenue = R(x) = 400x or R(x) = 400x - x^2
2. What would the profit function be?

profit = revenue - cost

thank you. Malga

I cannot thank you enough for your help.

 

[Deleted member 4993]

Would that mean revenue = R(x) = 400x


Why do you think it should be '400x' - your price function is not p(x) = 400