Using the cost function, C(x)=2000+8x-0.4×2, where C(x) is t…

Using the cost function, C(x)=2000+8x-0.4×2, where C(x) is the cost of producing x units:Part a) Determine the average cost function when x units are made. Use the formula: C(x)¯=C(x)x Simplify your answer.Part b) What is the average cost per unit when 40 units are made?

Test Formulas:Total Cost = Fixed Cost + (Variable Cost) * x…

Test Formulas:Total Cost = Fixed Cost + (Variable Cost) * xRevenue = (price – demand) * xProfit = Revenue – CostQuestion 1 – 4 use the following situation: The unit cost, in dollars, to produce bins of cat food is $6.50 and the fixed cost is $6040. The price-demand function, in dollars per bin, is p(x)=325-4x.Determine the revenue function.