Formulas: Cost = Fixed Cost + (Variable Cost)xRevenue = (pr…
Formulas: Cost = Fixed Cost + (Variable Cost)xRevenue = (price-demand)xProfit = Revenue – CostEntertainment 720 is a company that sells big speakers. The company has a fixed cost of $1200 and a variable cost of $65 per speaker. The company sells the speakers for $73. Part a) Find a cost function. Part b) Find the revenue cost. Part c) Find the profit cost. Part d) Determine the amount of profit earned selling 30 speakers.