What is the cost function and revenue function

Assignment Help Business Economics

Reference no: EM131380590

The grounds, a coffee shop, has daily averaged fixed costs of $273 each day and unit costs of $0.85 per cup of coffee. The coffee sells for $2.15 per cup. a) what is the cost function? C(x)=______ b) what is the revenue function? R(x)=______ c) how many cups of coffee must be sold each day to break even? _____cups d) how many cups must be sold to make a profit of $1,000?

Reference no: EM131380590

Questions Cloud

Create a meal diary for yourself for one day : Create a meal diary for yourself for one day. Create a healthy version of each meal and snack and an unhealthy version. Write a summary of the meal including the required elements listed.

How would you modify the scan pro model : For example, the sales of Cheerios may be based on how the price of a box of Cheerios diff ers from a reference price of $3.50.- How would you modify the SCAN*PRO model to include the idea of a reference price?

State the universal law of gravitation in detail : State the universal law of gravitation in detail. Write the formula to find the magnitude of the gravitational force between the earth and an object on the surface of the earth. What do you mean by free fall? What are the differences between the mass..

How would you use the scan pro model to test this hypothesis : The neighborhood price eff ect states that brands priced closer together exhibit a greater cross-elasticity than brands priced farther apart. How would you use the SCAN*PRO model to test this hypothesis?

What is the cost function and revenue function : The grounds, a coffee shop, has daily averaged fixed costs of $273 each day and unit costs of $0.85 per cup of coffee. The coffee sells for $2.15 per cup. what is the cost function? what is the revenue function?

How could you use the scan pro model to decompose : When a company promotes their product with a short-term price cut, their sales will increase for two reasons:- How could you use the SCAN*PRO model to decompose these two components of increased product sales?

Economy will have impact on your fiscal policy measures : You are the fiscal policy maker of a country which had a closed economy, but which now opens up to the rest of the world. Explain and discuss how opening up the economy will have an impact on your fiscal policy measures.

Live beyond their means display character flaw by borrowing : Do you think that people who “live beyond their means” display a character flaw by borrowing? What about a government that fails to confine its expenditures to the amount of its tax receipts? Describe what is meant by intangible wealth and is it impo..

Explaining what makes a good business decision : For this assignment, the student will create an argumentative essay explaining what makes a good business decision. This allows students to use critical thinking in their research to identify the importance of deductive reasoning and inductive rea..

User Account

All Pages