Question: Answer the following questions using the given information 3.) A manufacturer has a monthly fixed cost of $40,000 and a production cost of $8 for

Answer the following questions using the given information

3.) A manufacturer has a monthly fixed cost of $40,000 and a production cost of $8 for each unit produced. The product sells for $12/unit.

What is the cost function?

What is the revenue function?

What is the profit function?

Compute the profit (or loss) corresponding to production levels of 8000 and 12,000

units.

4.) A manufacturer has a monthly fixed cost of $75,000 and a production cost of $12.50 for each unit produced. The product sells for $15.50 per unit.

What is the cost function?

What is the revenue function?

What is the profit function?

Compute the profit (or loss) corresponding to production levels of 5000 and 14,000

units.

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