Asked by Barok
A record company prepares a record album with fixed costs of 18000 dollars and variable cost of 7 dollars per album. If the album is sold for 10 dollars each, develip the total revenue and total cost functions in terms of quantity.
Answers
Answered by
oobleck
for q records,
total cost = fixed + variable = 18000 + 7q
revenue = price * quantity = 10q
total cost = fixed + variable = 18000 + 7q
revenue = price * quantity = 10q
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