linear cost function
Assume that the following has a linear cost function. Find the cost ;function, C(x), revenue ;function, R(x), and profit ;function, P(x), where x is the number of items produced ;(or sold).
Fixed ;Cost | Marginal ;Cost | Item ;Sells
$200 | $19 | $31
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What is the cost ;function?
C(x)= ______. (Simplify your answer)
What is the revenue ;function?
R(x)= ______. (Simplify your answer)
What is the profit ;function?
P(x)= ______. (Simplify your answer)
