Let the demand function for a product be given by the function
D
(
q
)
=
−
1.5
q
+
270
D
(
q
)
=
-
1.5
q
+
270
, where
q
q
is the quantity of items in demand and
D
(
q
)
D
(
q
)
is the price per item, in dollars, that can be charged when
q
q
units are sold. Suppose fixed costs of production for this item are
$
4
,
000
$
4
,
000
and variable costs are
$
4
$
4
per item produced. If
106
106
items are produced and sold, find the following:
A) The total revenue from selling
106 items (to the nearest penny).
$
B) The total costs to produce
106 items (to the nearest penny).
C) The total profits to produce
106 items (to the nearest penny. Profits may or may not be negative.).