Question 1. A firm produces a product that sells for $150 per unit. Variable cost per unit is $67 and fixed
cost per period is $35,500. The firm's maximum capacity of production per period is 1,000 units.
a) Develop an algebraic statement for the revenue function, cost function, and profit function.
b) Determine the number of units required to be sold to break even.
c) Compute the break-even point as a percent of capacity.
d) Compute the break-even point in sales dollars.
