Answer: c(p)= 0.18 p when [tex]0 \leq p < 500[/tex]
0.24 p when [tex]500 \leq p \leq 2000[/tex]
0.27 p when [tex]p \geq 2000[/tex]
Step-by-step explanation:
If p is the profit then and from the question we can relate as:
The 18% commission is for profits under $500
The 24% commission is for profits from $500 to $2,000
The 27% commission is for profits above $2,000
So, in terms of p, c(p) is given as:
c(p)= 0.18 p when [tex]0 \leq p < 500[/tex]
0.24 p when [tex]500 \leq p \leq 2000[/tex]
0.27 p when [tex]p \geq 2000[/tex]