CALCULUS Understanding
Its Concepts and Methods
CALCULUS Understanding
Its Concepts and Methods
Cost, Revenue, Profit
The cost function, C(x), is the total cost of producing and marketing x items.
The average cost of producing
x
units is
The revenue function, R(x) , is the total amount of money received from the sale of x items.
The profit function, P(x) = R(x) - C(x), is the company's profit for producing and selling x items.
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Copyright © 2006 Darel Hardy, Fred Richman, Carol Walker, Robert Wisner. All rights reserved. Except upon the express prior permission in writing, from the authors, no part of this work may be reproduced, transcribed, stored electronically, or transmitted in any form by any method.