Exercise I - Cost and Revenue Analysis (15 points) Consider the cost function f(x) where 0

Exercise I - Cost and Revenue Analysis (15 points) Consider Lhe cest function f(r) where O r 8 represents thc number of items (in thousands) sold by a certain small blEincss and f is in thousands Of dollars. The graph below. l. What is the VH1ue the fixed costs? Explain briefly. (2 points) 2. Approximate f' and interpret its meaning. (4 points) 3. If item is fixed Of 82.5, what. is the rcvcnue. function? (2 points) C,opy the cost function on your answer shcct., sketch thc revenue you created in the previous part. (2 pcints) 5. a rough graph of the profit. Give 3 reasons for your sketch. (5 points)