3. Mercado and Associates sells its product at P20 per kilo. It has been recorded that the company's variable cost is P8.00 per kilo and the fixed cost is P3,000
a. Set up the total revenue function and total cost function.
b. How much is the profit if 1000 kilograms of its products were sold?
c. Determine the break-even point in units.
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Answer:
A. Set up the total renvenue function and total cost function.