Mason and Company produces cabinets. It cost Mason & Co. at total of $400 to...
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Mason and Company produces cabinets. It cost Mason & Co. at total of $400 to produce 10 cabinets. It can sell a total of 15 cabinets when they are priced at $85 each and 20 cabinets if the price is reduced to $60 per cabinet. If Mason & Co. decides not to produce any cabinets, they will still have costs totaling $200. Find the following where x=# of cabinets. (a) The linear price-demand function, p = mx + b (Given 2 points (15,85) & (20,60).) (b) The linear cost function. C(x) = cx + F (Given 2 points (10,400) & (0,200).) (c) The revenue function. R(x) = p x (d) The profit function. P(x) = R C (e) The break-even point(s) and, therefore, over which intervals Mason & Co. will realize a profit gain or loss. (f) The profit or loss from selling 10 cabinets. (g) The price that should be charged in order to maximize the companys profit
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