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Step-by-step explanation:
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The revenue function is R(x) = $2.46 x and R(x) = $1.50 x .
What is revenue function?
Revenue is the total income earned through the sale of goods and services by the company. Thus, revenue is the most important factor to determine the progress of any business. The revenue formula is used to find the revenue.
Revenue Formula = Number of goods sold × Sales Price
According to the question
The manager of a men's store can sell 13 pairs of socks at a price of $2.46 per pair.
i.e
Selling price of 1 pair socks = $2.46
Selling price of 13 pairs of socks = 13 * $2.46
= 31.98
If the price is $1.50, she can sell 29 pairs.
i.e
IF Selling price of 1 pair socks = $1.50
If Selling price of 29 pairs of socks = $1.50 * 29
= $43.5
Now,
The total cost for x pairs of socks in dollars is
[tex]C(x)=0.75x+11.25[/tex]
x = 13
[tex]C(13)=0.75*13+11.25[/tex]
[tex]C(13) = 21[/tex]
x = 29
[tex]C(29)=0.75*29+11.25[/tex]
[tex]C(29) = 33[/tex]
Now,
The Revenue function
Revenue Formula = Number of goods sold × Sales Price
i.e
Let pair of socks sold = x
when Selling price of 1 pair socks = $2.46
R(x) = $2.46 x
IF Selling price of 1 pair socks = $1.50
R(x) = $1.50 x
Hence, The revenue function is R(x) = $2.46 x and R(x) = $1.50 x .
To know more about revenue function here:
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