Question

Costco sells a 73 lb wheel of Parmigiano Reggiano cheese for $899. It costs them $690 to produce each wheel. Their cheese warehouse incurs $10,200 in bills every month.
a. Find the monthly Cost C(x), Revenue R(x), and Profit P(x) functions for the company.

Answer 1

The profit function for each month is given by P(x) = 209x - 10200

Profit

Cost is the amount of money spent in producing an item while revenue is the amount of money made in selling the item.

Profit is the difference between revenue and cost.

Let x represent the number of 73 lb wheel produced each month

Cost: C(x) = 690x + 10200

Revenue: R(x) = 899x

Profit: P(x) = R(x) - C(x) = 899x - (690x + 10200) = 209x - 10200

The profit function for each month is given by P(x) = 209x - 10200

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