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2. Suppose the demand function relating demand and price is given by pix)- 50-0.005x. The total...
A company manufactures and sells x cellphones per week. The weekly price-demand and cost equation...
#4
& 5, work shown.
A company manufactures and sells x cellphones per week. The weekly price-demand and cost equations are given below. 4) p 400-0.lx and C(x)-25,000+135x Find the weekly revenue function. What price should the company charge for the phones, and how many phones should be produced to maximize the weekly revenue? What is the weekly revenue? a) b) c) Find the weekly profit function. What price should the company charge for the phones, and how many phones...
Find the price-demand function if the unit price of a product is $98.00, when the quantity demand...
Find the price-demand function if the unit price of a product is $98.00, when the quantity demanded is 10 units, and the unit price is $68.00 when the quantity demanded is 20 units. ii) What is the unit price of this product for a demand of 25 units? iii) Using price-demand function p(x) =-x+38, and cost function C (x) =9x+100 find: a) The break-even points b) The range of demand that ensures a profit and loss is made. c) The...
The total revenue function for a certain product is given by The total revenue function for...
The total revenue function for a certain product is given by
The total revenue function for a certain product is given by R=630x dollars, and the total cost function for this product is C = 10,000+ 30x + x2 dollars, where x is the number of units of the product that are produced and sold. a. Find the profit function. b. Find the number of units that gives maximum profit. c. Find the maximum possible profit. a. P(x)= (Simplify your...
(1 point) The price-demand and cost functions for the production of microwaves are given as P=240-...
(1 point) The price-demand and cost functions for the production of microwaves are given as P=240- C(x) = 46000 + 40., is the number of microwaves that can be sold at a price of p dollars per unit and C where units. ) is the total cost (in dollars) of producing (A) Find the marginal cost as a function of C'(x) = (B) Find the revenue function in terms R(x) = (C) Find the marginal revenue function in terms of...
15. Suppose demand, D, for a good is a linear function of its price per unit,...
15. Suppose demand, D, for a good is a linear function of its price per unit, P. When price is $20, demand 16. A certain firm posted an ad for a sales representative position paying S36,000 base salary plus a. What commission rate (as a percent of sales) must he earn to make $63,000 per year? is 100 units, and when price is $10, demand is 150 units. Find the demand function. commission. Based on his past experience, a salesman...
2. A commodity has a demand function modeled by p = 1700 -0.016, and a total...
2. A commodity has a demand function modeled by p = 1700 -0.016, and a total cost function modeled by C = 715,000 + 240. (a) Find the profit and marginal profit at * = 700 units. (b) What price yields the maximum profit. (c) Use differentials to approximate the change in profit as the number of units sold changes from 500 units to 525 units.
1 x+14,000. The cost of producing x vans is given by the function 50 The CarryltAll...
1 x+14,000. The cost of producing x vans is given by the function 50 The CarryltAll mini-van, a popular vehicle among soccer moms, obeys the demand equation p C(x) 11160x+ 30,000 a) Express the revenue R as a function of x b) Express the profit P as a function of x c) Find the value of x that maximizes profit. What is the maximum profit? d) What price should be charged in order to maximize profit?
A commodity has a demand function modeled by p = 280 − 0.4x, and a total...
A commodity has a demand function modeled by p = 280 − 0.4x, and a total cost function modeled by C = 80x + 120, where x is the number of units. (a) What price yields a maximum profit? (b) Find the average cost per unit when x = 50 and x = 650. (c) Determine when the demand is elastic, inelastic, and of unit elasticity. (d) Use differentials to approximate the change in revenue as sales increase from 210...
The revenue and cost functions for a particular product are given below.
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?
Question 2 [20 marks] = Given that the price of the product is P(Q) 4000 –...
Question 2 [20 marks] = Given that the price of the product is P(Q) 4000 – 33Q and the Marginal Cost function of producing the same product is C' = 602 – 6Q + 400. Assuming Q> 0. a) Find the revenue and marginal revenue function of the production in term of Q. (3 Marks) b) Find the total cost function if the fixed cost of the production is RM5000. (4 Marks) c) Interpret the result of the marginal profit...
#4
& 5, work shown.
A company manufactures and sells x cellphones per week. The weekly price-demand and cost equations are given below. 4) p 400-0.lx and C(x)-25,000+135x Find the weekly revenue function. What price should the company charge for the phones, and how many phones should be produced to maximize the weekly revenue? What is the weekly revenue? a) b) c) Find the weekly profit function. What price should the company charge for the phones, and how many phones...
The total revenue function for a certain product is given by
The total revenue function for a certain product is given by R=630x dollars, and the total cost function for this product is C = 10,000+ 30x + x2 dollars, where x is the number of units of the product that are produced and sold. a. Find the profit function. b. Find the number of units that gives maximum profit. c. Find the maximum possible profit. a. P(x)= (Simplify your...
(1 point) The price-demand and cost functions for the production of microwaves are given as P=240- C(x) = 46000 + 40., is the number of microwaves that can be sold at a price of p dollars per unit and C where units. ) is the total cost (in dollars) of producing (A) Find the marginal cost as a function of C'(x) = (B) Find the revenue function in terms R(x) = (C) Find the marginal revenue function in terms of...
15. Suppose demand, D, for a good is a linear function of its price per unit, P. When price is $20, demand 16. A certain firm posted an ad for a sales representative position paying S36,000 base salary plus a. What commission rate (as a percent of sales) must he earn to make $63,000 per year? is 100 units, and when price is $10, demand is 150 units. Find the demand function. commission. Based on his past experience, a salesman...
2. A commodity has a demand function modeled by p = 1700 -0.016, and a total cost function modeled by C = 715,000 + 240. (a) Find the profit and marginal profit at * = 700 units. (b) What price yields the maximum profit. (c) Use differentials to approximate the change in profit as the number of units sold changes from 500 units to 525 units.
1 x+14,000. The cost of producing x vans is given by the function 50 The CarryltAll mini-van, a popular vehicle among soccer moms, obeys the demand equation p C(x) 11160x+ 30,000 a) Express the revenue R as a function of x b) Express the profit P as a function of x c) Find the value of x that maximizes profit. What is the maximum profit? d) What price should be charged in order to maximize profit?
Question 2 [20 marks] = Given that the price of the product is P(Q) 4000 – 33Q and the Marginal Cost function of producing the same product is C' = 602 – 6Q + 400. Assuming Q> 0. a) Find the revenue and marginal revenue function of the production in term of Q. (3 Marks) b) Find the total cost function if the fixed cost of the production is RM5000. (4 Marks) c) Interpret the result of the marginal profit...
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