let the demand function for a product be given by the function $d(q)=-1.1q + 280$, where $q$ is the quantity…

let the demand function for a product be given by the function $d(q)=-1.1q + 280$, where $q$ is the quantity of items in demand and $d(q)$ is the price per item, in dollars, that can be charged when $q$ units are sold. suppose fixed costs of production for this item are $6000$ and variable costs are $2$ per item produced. if 134 items are produced and sold, find the following: a) the total revenue from selling 134 items (to the nearest penny). answer: $ b) the total costs to produce 134 items (to the nearest penny). answer: $ 6268.00 c) the total profit to produce 134 items (to the nearest penny. profits may or may not be negative.). answer: $

let the demand function for a product be given by the function $d(q)=-1.1q + 280$, where $q$ is the quantity of items in demand and $d(q)$ is the price per item, in dollars, that can be charged when $q$ units are sold. suppose fixed costs of production for this item are $6000$ and variable costs are $2$ per item produced. if 134 items are produced and sold, find the following: a) the total revenue from selling 134 items (to the nearest penny). answer: $ b) the total costs to produce 134 items (to the nearest penny). answer: $ 6268.00 c) the total profit to produce 134 items (to the nearest penny. profits may or may not be negative.). answer: $

Answer

Explanation:

Step1: Find the price per item

Given demand - function $D(q)=-1.1q + 280$, when $q = 134$, we substitute $q$ into the function. $D(134)=-1.1\times134 + 280=-147.4+280 = 132.6$

Step2: Calculate the total revenue

The total - revenue formula is $R = q\times D(q)$. Substitute $q = 134$ and $D(134)=132.6$ into the formula. $R=134\times132.6 = 17768.4$

Step3: Calculate the total cost

The total - cost formula is $C=6000 + 2q$. Substitute $q = 134$ into the formula. $C=6000+2\times134=6000 + 268=6268$

Step4: Calculate the total profit

The total - profit formula is $P=R - C$. Substitute $R = 17768.4$ and $C = 6268$ into the formula. $P=17768.4-6268=11500.4$

Answer:

A. $17768.40$ B. $6268.00$ C. $11500.40$