find expressions for the revenue, cost, and profit from selling x thousand items. item price $7.00 fixed…

find expressions for the revenue, cost, and profit from selling x thousand items. item price $7.00 fixed costs $170,000 variable costs 4770x which expression represents revenue? a r = 7000x b r = 7x c r = 70000x d r = 7x + 170,000 which expression represents cost? a c = 4770 + 170,000x b c = 170,000 - 4770x c c = 7000x - 170,000x d c = 170,000 + 4770x which expression represents profit? a p = 170,000 - 7000x b p = 2230x - 170,000 c p = 70000x - 170,000 d p = 170,000 - 2230x

find expressions for the revenue, cost, and profit from selling x thousand items. item price $7.00 fixed costs $170,000 variable costs 4770x which expression represents revenue? a r = 7000x b r = 7x c r = 70000x d r = 7x + 170,000 which expression represents cost? a c = 4770 + 170,000x b c = 170,000 - 4770x c c = 7000x - 170,000x d c = 170,000 + 4770x which expression represents profit? a p = 170,000 - 7000x b p = 2230x - 170,000 c p = 70000x - 170,000 d p = 170,000 - 2230x

Answer

Explanation:

Step1: Calculate revenue formula

Revenue = Price per item×Number of items. Since price per item is $7 and number of items is $x$ thousand (so actual number of items is $1000x$), $R = 7\times1000x=7000x$.

Step2: Calculate cost formula

Cost = Fixed costs+Variable costs. Fixed costs are $170000$ and variable costs are $4770x$, so $C = 170000 + 4770x$.

Step3: Calculate profit formula

Profit = Revenue - Cost. Substitute $R = 7000x$ and $C=170000 + 4770x$ into the formula: $P=7000x-(170000 + 4770x)=7000x - 170000-4770x=2230x - 170000$.

Answer:

Revenue: $R = 7000x$ Cost: $C = 170000 + 4770x$ Profit: $P = 2230x - 170000$