Let the demand function for a product be given by the function D(q) = 1.55g +...

 

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Let the demand function for a product be given by the function D(q) = 1.55g + 290, 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 $5,000 and variable costs are $8 per item produced. If 133 items are produced and sold, find each of the following. a) Identify the total revenue from selling 133 items. Round to the nearest penny. Answer: $ b) Identify the total costs to produce 133 items. Round to the nearest penny. Answer: $ c) Identify the total profits to produce 133 items. Round to the nearest penny. Profits may or may not be negative. Answer: $ Let the demand function for a product be given by the function D(q) = 1.55g + 290, 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 $5,000 and variable costs are $8 per item produced. If 133 items are produced and sold, find each of the following. a) Identify the total revenue from selling 133 items. Round to the nearest penny. Answer: $ b) Identify the total costs to produce 133 items. Round to the nearest penny. Answer: $ c) Identify the total profits to produce 133 items. Round to the nearest penny. Profits may or may not be negative. Answer: $