Answer Happy

Question 5 a) Creatine Pro is a local startup business that specializes in breathable gym wear. They have hired Krzy Consultants to create systems and processes for the production of their gym wear. Krzy has compiled the following information The supply function is represented by P=3Q +60 and the demand function by the equation P=50-120 The total revenue and total costs functions of the company are given below. Total Costs = -1000? + 4600* - 1450-475 Total Revenue 2000 + 4500* Given the above information answer the following questions: Sketch the demand and supply functions and determine their equilibrium point. [4] Calculate the marginal revenue and marginal costs. [4] Calculate the profit function and derive the marginal profit. [3] Derive the breakeven function. [2] Determine total costs and total revenue when the quantity produced is 10 units [4] vi. Assuming that the monthly marginal cost for the gym wear in May 2019 was MC = x + 90, What was the total cost function for May 2019? [3] iii. iv. - V.