Four students defined the same revenue and cost functions, shown below:

fun revenue​(​g​): 1.75 * g end

fun cost​(​g​): 0.3 * g end

However, they came up with four different definitions for profit:


fun profit​(​g​): (​1.75 * g​) - (​0.3 * g​) end


fun profit​(​g​): (​1.75 - 0.3​) * g end


fun profit​(​g​): 1.45 * g end


fun profit​(​g​): revenue​(​g​) - cost​(​g​) end

1 Which of these four definitions do you think is "best", and why?

2 If lemons get more expensive, which definitions of profit need to be changed?

3 If Sally raises her prices, which definitions of profit need to be changed?

4 Which definition of profit is the most flexible? Why?

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