Suppose a company's revenue function is given by R(q) = - q° + 200q and its...
A company's revenue, in dollars, as a function of a quantity q is given by R(q) = 909 - 39" 1. Find the marginal revenue function and use it to find the production level that will maximize revenue. (Select] 2. What is the maximum revenue? (Select] Previous
Suppose that the revenue R, in dollars, from selling x cell phones, in hundreds, is R(x) = -1.3x2 + 320x. The cost C, in dollars, from selling x cell phones, in hundreds, is C(x) = 0.03x3 - 3x2 + 75x + 550. (a) Find the profit function, P(x) = R(x)-C(x). (b) Find the profit if x = 21 hundred cell phones are sold. (c) Interpret P(21). (a) P(x)= (Use integers or decimals for any numbers in the expression.) (b) P(21)=$...
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Suppose a product's revenue function is given by R(q) = – 8q2 + 800q, where R(q) is in dollars and q is the number of units sold. Use the marginal revenue function to find the approximate revenue generated by selling the 39th unit. Marginal revenue = -624 ]* Preview dollars per unit Suppose a product's cost function is given by C(q) = -4q2 + 6000, where C(q) is in dollars and q...
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3/11 points| Previous Answers The total revenue and total cost functions for manufacturing Items are: TR(g)-5q2+80q and TC(Q)-q3-12q2+60q+60, where q is measured in hundreds of Items and total revenue and total cost are given in hundreds of dollars (a) Determine the quantity at which marginal revenue is 68 dollars per Thing 12/10 hundred Items (b) Find the largest interval on which total revenue is increasing from q- 0 to q8 hundred Items (c) Find the...
36. Revenue Suppose that the revenue function for a certain product is given by R(x) = 15(2x + 1)-1 + 30x – 15 where x is in thousands of units and R is in thousands of dollars. (a) Find the marginal revenue when 2000 units are sold. (b) How is revenue changing when 2000 units are sold?
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2. The revenue R, in thousands of dollars, from producing and selling σ hundred LCD TVs is given by R(a)--5z? + 35a2 + 155z for 0 < π < 10.07 a. Use a graphing utility to graph y - R(r) and determine the number of TVs which should be sold to maximize revenue. What is the maximum revenue? Why does this amount produce maximum revenue? b. Assume that the cost, in...
Please solve all of them.
7. The revenue function for a product is given by 60x2 R(x) = 2x+1 a. Find the marginal revenue function The price of a product in a competitive market is $300. The cost per unit of producing the product is 160 + 0.1% dollars, where x is the number of units produced per month a. Find the marginal cost function. b. Find the marginal revenue function b. Find MR(100) and interpret your results. c. Find...
The revenue and cost functions for a particular product are given below. The cost and revenue are given in dollars, and x represents the number of unitsR(x)=-0.8x2+608xC(x)=256x+36720(a) How many items must be sold to maximize the revenue?(b) What is the maximum revenue?(c) Find the profit function.(d) How many items must be sold to maximize the profit?(e) What is the maximum profit?(f) At what production level(s) will the company break even on this product?
Consider the following short-run production function (where L = variable input, Q = output): Q=6L−0.4L2 Suppose that output can be sold for $10 per unit. Also assume that the firm can obtain as much of the variable input (L) as it needs at $20 per unit. What is the marginal revenue product function (MRPL)? $20 $60−$8L $10 $6−$0.40L What is the marginal factor cost function (MFCLMFCL)? $6−$0.40L $60−$8L $10 $20 What is the optimal value of L, given that the...
3. The revenue function for a sound system is R(x) = 200x - x? dollars where x denotes the number of units sold. (a) What is the expression that gives marginal revenue? Solution: R(x) = 200x – x2 Expression that gives marginal revenue is R(x) = 200 – 2x. (b) What is the marginal revenue if 50 units are sold? Solution: 200 – 2(50) = 100