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Question

The monthly cost in dollars to produce x custom made watches is C(x): = 21 +1000, x ≥ 0. The price-demand function in dollars per watch is p(x) = 140 — 2x,0 ≤ x ≤ 70.

a) Find and interpret the following C(0), C(15), p(5)

b) Find and simplify R(x) and P(x)

Fig: 1