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Question

# Find expressions for the revenue, cost, and profit from selling x thousand items.$\begin{array}{lll} \text{Item Price} & \text{Fixed Costs} & \text{Variable Costs}\\ \8.50 & \225,000 & 4200x \end{array}$

Solution

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Step 1
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Here, we have to find the expression for revenue, cost and profit of an item. First we will determine the revenue using the formula.

$\text{Revenue = (Price per item)\times (number of item sold)}$

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