Let the demand function for a product be given by the function , where is the quantity of items in demand and is the price per item, in dollars, that can be charged when units are sold. Suppose fixed costs of production for this item are and variable costs are per item produced. If items are produced and sold, find the following:
A) The total revenue from selling items (to the nearest penny).
Answer: $
B) The total costs to produce items (to the nearest penny).
Answer: $
C) The total profits to produce items (to the nearest penny. Profits may or may not be negative.).
Answer: $
A) The total revenue from selling items (to the nearest penny).
Answer: $
B) The total costs to produce items (to the nearest penny).
Answer: $
C) The total profits to produce items (to the nearest penny. Profits may or may not be negative.).
Answer: $
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