Assume that a company has fixed costs of $500, and it costs $20 to produce an...

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Assume that a company has fixed costs of $500, and it costs $20 to produce an item. The price function for the item is p(x)=80-x. What is the cost function? What is the revenue function? What is the maximum revenue? What is the profit function? What are the break-even points? Sketch a graph of the cost and revenue functions on the same graph. Mark the break even points on the graph. Assume that a company has fixed costs of $500, and it costs $20 to produce an item. The price function for the item is p(x)=80-x. What is the cost function? What is the revenue function? What is the maximum revenue? What is the profit function? What are the break-even points? Sketch a graph of the cost and revenue functions on the same graph. Mark the break even points on the graph.

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price function 80x a The cost function is given by FC500 VC20x TCFCVC Total costTC 50020x b revenue ... View the full answer