Until recently, hamburgers at the city sports arena cost $2.50 each. The food concessionaire sold an average of 625 hamburgers on game night. When the price was raised to $3.00, 1
hamburger sales dropped off to an average of 500 per night. The concessionaire's fixed costs were |
$612.00 per night and the variable cost was $0.72per hamburger. Answer the following questions (A)
through (F).
(A) Assume that the relationship between price p and demand x is linear. Express p as a function of x and
find the domain of this function.
p=
1
The domain of p is 1
1
(Type a compound inequality.)
(B) Find the revenue function in terms of x and state its domain.
R(x)=
The domain of R(x) is 1
1
(Type a compound inequality.) 1
(C) Assume that the cost function is linear. Express the cost function in terms of x.
C(x)=
T
(D) Graph the cost function and the revenue function in the same coordinate system. T