A company manufactures and sells slippers. The price it charges wholesalers is $18 per pair. The company has fixed annual costs of
$30,000. In addition, it costs the company $4.50 to make each pair of
slippers. Use this information for Problems 7–12.
7. Write the revenue function r(x), where x is the number of slippers sold
in a year and r(x) is the total revenue from those sales.
8. Write the cost function c(x), where x is the number of slippers sold in a
year and c(x) is the annual cost for the company.
9. Profit equals the difference between revenue and cost. Write the profit
function, p(x), for this company.
10. In 2010, the company sold 2000 pairs of slippers. Find its profit or loss.
11. In 2012, the company sold 15,000 pairs of slippers. Find its profit or loss.
12. Suppose material costs rise and it now costs $5.25 to make a pair of slippers.
The company decides to raise its price from $18 to $19. Write its new profit function.