Assignment:
A company makes cameras.
The price per camera at which x million cameras can be sold is:
p(x) = 94.8 – 5x.
0 -< x -< 15
(the symbol -< is the “greater or equal to sign”, I couldn’t get it to work on my computer)
The cost of making x million cameras is:
c(x) = 156 + 19.7x
(x is in millions of $)
Q1. Write the revenue function r(x).
Q2. How many cameras must be sold to have a revenue of at least $400,000,000?
Q3. Write the profit function p(x).
Q4. What is the maximum profit to the nearest dollar?
Q5. How many cameras must be sold to break even?
Q6. What is the price per camera which maximizes profit?
Provide complete and step by step solution for the question and show calculations and use formulas.