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 bags of peanuts at the local carnival. Your cost for each bag of peanuts is $2.17 plus you have to pay a fixed weekly fee of $160 for the booth. Your plan is to sell each bag of peanuts for $3.31.
  1. Write a function, C(n), to represent your total costs for the week if you sell n\displaystyle {n} bags of peanuts.
    C(n)=\displaystyle {C}{\left({n}\right)}=  
  2. Write a function, R(n), to represent the revenue from the sale of n\displaystyle {n} bags of peanuts during the week.
    R(n)=\displaystyle {R}{\left({n}\right)}=  
  3. Write a function, P(n), that represents the profits for selling n\displaystyle {n} bags of peanuts in a given week.
    P(n)=\displaystyle {P}{\left({n}\right)}=  
  1. How many bags of peanuts must you sell in order to make a positive profit? Write your answer as a whole number.

  2. Complete the following sentence to explain the meaning of #1:

    In order to make a profit, I have to sell a minimum of bags of peanuts

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