Question: Let the demand function for a product be given by the function D[q) = 1.85:; + 210, where q is the quantity of items in


Let the demand function for a product be given by the function D[q) = 1.85:; + 210, where q is the quantity of items in demand and D(q) is the price per item, in dollars, that can be charged when or units are sold. Suppose fixed costs of production for this item are $2, 000 and variable costs are $2 per item produced. If 32 items are produced and sold, find the following: A) The total revenue from selling 32 items {to the nearest penny]. Answer: $| | B) The total costs to produce 32 items (to the nearest penny). Answer: $| I C) The total profits to produce 32 items (to the nearest penny) Note that profits may or may not be negative. Answer: $| |
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