Let the demand function for a product be given by the function D(g) -1.6q+ 270, where q is the
quantity of items in demand and D(g) is the price per item, in dollars, that can be charged when q units,
are sold. Suppose fixed costs of production for this item are $4,000 and variable costs are $7 per item
produced. If 91 items are produced and sold, find the following:
A) The total revenue from selling 91 items (to the nearest penny).
Answer:
B) The total costs to produce 91 items (to the nearest penny).
Answer:
C) The total profits to produce 91 items (to the nearest penny. Profits may or may not be negative.).
Answer:
