QUESTION 3 A manufacturing process has a total cost function given by the equation C = 10 + 5x and total revenue function given by the equation R = 23x 5x2 , where x is the quantity produced in units and both C and R are in N$. (i) Identify the value of the company's fixed costs and variable cost for the manufacturing process. (4) Construct a table to calculate the value of C and R using the values 0, 1, 2, 3, 4 and 5 for x (6) Using the data from the table in (ii), plot a fully labelled graph for C and R against x. compulsory to use a graph paper (5) Use the graph drawn in (iii) to determine (iii) (iv) Page 6 of 7 The quantity of units produced where the manufacturing process breaks even (3) The range of x in which the manufacturing makes a profit and range in which the manufacturing process makes a loss (3) The profit or loss made when 350 units are produced (4) [Total: 25 Marks]