Cost, Revenue, Profit Identify the relevant information given to you in the application problem below. Use that information to answer
Cost, Revenue, Profit
Identify the relevant information given to you in the application problem below. Use that information to answer the questions that follow on cost, revenue and profit.
Round your answers to two decimal places as needed.
You decide to begin selling frozen bananas at the local park. Your cost for each frozen banana is $2.25 plus you have to pay a fixed weekly fee of $120 for the booth. Your plan is to sell each frozen banana for $3.51.
1. Write a function, Cin), to represent your total costs for the week if you sell n frozen bananas. C(n) 2.25 + 120
2. Write a function, R(n), to represent the revenue from the sale of n frozen bananas during the week. R(n) 3,5ln
3. Write a function, P(n), that represents the profits for selling n frozen bananas in a given week. P(n) 1.26n – 120
1. How many frozen bananas must you sell in order to make a positive profit? Write your answer as a whole number. 95.23809524 frozen bananas
2. Complete the following sentence to explain the meaning of #1:
In order to make a profit, I have to sell a minimum of________