So the question from my math book is:
R(x)=(-5x+21)(x)
but when it comes to the profit (revenue-cost), how come the cost function C(x) isn't multiplied by the quantity?
I'm just one of those people that like to understand things inside-out before moving on
I understand that the revenue function is unit price times quantity,The demand function for a new product is p(x)=-5x+21, where x represents the number of items in thousands and p represents the price in dollars. The cost function is C(x)=4x+14.
a) State the [...] revenue function.
b) Determine the [...] profit function.
R(x)=(-5x+21)(x)
but when it comes to the profit (revenue-cost), how come the cost function C(x) isn't multiplied by the quantity?
I'm just one of those people that like to understand things inside-out before moving on