Question

A small publishing company is releasing a new book. The production costs will include a one-time fixed cost for editing and an additional cost for each book printed. The total production cost C (in dollars) is given by the function =C+75015.95N, where N is the number of books.
The total revenue earned (in dollars) from selling the books is given by the function =R33.70N.

Let P be the profit made (in dollars). Write an equation relating P to N. Simplify your answer as much as possible.

Answer 1

The profit equation which relates P, profit to N, quantity produced and sold is:

P=17.75N-750

What is the total cost function?

The total production cost function, whereby total cost is C is as given below:

C=750+15.95N(look at a similar question provided)

What is the total revenue function?

The total revenue function is as given below:

R=33.70N

The profit is the excess of total revenue over total cost, in other words, profit is the total revenue minus total cost

P=33.70N-(750+15.95N)

P=33.70N-750-15.95N

P=33.70N-15.95N-750

P=17.75N-750

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Similar question:

A small publishing company is releasing a new book. The production costs will include a one-time fixed cost for editing and an additional cost for each book printed. The total production cost C (in dollars) is given by the function C=650+18.95N , where N is the number of books. The total revenue earned (in dollars) from selling the books is given by the function R=32.80N . Let P be the profit made (in dollars). Write an equation relating P to N . Simplify your answer as much as possible.