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linear revenue function is R = 34x. (Assume R is measured in dollars.) (a) What is...
1)A linear cost function is C(x) = 6x + 450. (Assume C is measured in dollars.)...
1)A linear cost function is C(x) = 6x + 450. (Assume C is measured in dollars.) (a) What are the slope and the C-intercept? slope C-intercept (b) What is the marginal cost MC ? MC= What does the marginal cost mean? Each additional unit produced costs this much (in dollars). If production is increased by this many units, the cost decreases by $1. Each additional unit produced reduces the cost by this much (in dollars). If production is increased...
Please solve all of them. 7. The revenue function for a product is given by 60x2...
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...
A shoe company that sells hiking boots has total revenue dollars, and the total cost where...
A shoe company that sells hiking boots has total revenue
dollars,
and the total cost
where x is the number of hiking boots produced and sold. Find the
marginal revenue (MR), Marginal cost (MC), and Marginal Profit
(MP)
r(z) = 652. c(z) 5500 152.
41. Revenue and Marginal Revenue Let R(x) denote the revenue (in thousands of dollars) generated from...
41. Revenue and Marginal Revenue Let R(x) denote the revenue (in thousands of dollars) generated from the production of x units of computer chips per day, where each unit consists of 100 chips. (a) Represent the following statement by equations involving R or R': When 1200 chips are produced per day, the rev- enue is $22,000 and the marginal revenue is $.75 per chip. (b) If the marginal cost of producing 1200 chips is $1.5 per chip, what is the...
41. Revenue and Marginal Revenue Let R(x) denote the revenue (in thousands of dollars) generated from...
41. Revenue and Marginal Revenue Let R(x) denote the revenue (in thousands of dollars) generated from the production of x units of computer chips per day, where each unit consists of 100 chips. =X (a) Represent the following statement by equations involving R or R': When 1200 chips are produced per day, the rev- enue is $22,000 and the marginal revenue is $.75 per chip. (b) If the marginal cost of producing 1200 chips is $1.5 per chip, what is...
Total revenue is in dollars and x is the number of units. time left... 7:43:29 Suppose...
Total revenue is in dollars and x is the number of units. time left... 7:43:29 Suppose that the total revenue function for a commodity is R = 64x - 0.02x2. (a) Find R(100) $ Tell what it represents. The revenue increases by about this amount when the number of units is increased from 100 to 101. 100 units produce this amount of revenue. 101 units produce this amount of revenue. The actual revenue of the 100th unit is this amount....
The total revenue function for a product is given by R=655x dollars, and the total cost...
The total revenue function for a product is given by R=655x dollars, and the total cost function for this same product is given by C=19,250+70x+x2, where C is measured in dollars. For both functions, the input x is the number of units produced and sold. a. Form the profit function for this product from the two given functions. b. What is the profit when 25 units are produced and sold? c. What is the profit when 43 units are produced...
Question 3-4 SESSION 13 The marginal revenue is the rate of change in total revenue per...
Question 3-4
SESSION 13 The marginal revenue is the rate of change in total revenue per unit increase in output, Q The marginal cost is the rate of change in total cost per unit increase in output, Q AR is defined as average revenue per unit for the first Q su ccessive units sold. AR is determined by dividing total reven ue by the quantity sold, Q The AR function is equal to price, P. where Pis given by the...
please help explain how to work these problems, Suppose a product's revenue function is given by...
please help explain how to work these problems,
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...
The cost of producing q items is C(q) = 2500+ 18q dollars. (a) What is the...
The cost of producing q items is C(q) = 2500+ 18q dollars. (a) What is the marginal cost of producing the 100th item? the 1000th item? The marginal cost to produce the 100th unit is $ The marginal cost to produce the 1000th unit is $ (b) What is the average cost of producing 100 items? 1000 items? The average cost of producing 100 units is $ per unit. The average cost of producing 1000 units is $ per unit.
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...
A shoe company that sells hiking boots has total revenue
dollars,
and the total cost
where x is the number of hiking boots produced and sold. Find the
marginal revenue (MR), Marginal cost (MC), and Marginal Profit
(MP)
r(z) = 652. c(z) 5500 152.
41. Revenue and Marginal Revenue Let R(x) denote the revenue (in thousands of dollars) generated from the production of x units of computer chips per day, where each unit consists of 100 chips. (a) Represent the following statement by equations involving R or R': When 1200 chips are produced per day, the rev- enue is $22,000 and the marginal revenue is $.75 per chip. (b) If the marginal cost of producing 1200 chips is $1.5 per chip, what is the...
41. Revenue and Marginal Revenue Let R(x) denote the revenue (in thousands of dollars) generated from the production of x units of computer chips per day, where each unit consists of 100 chips. =X (a) Represent the following statement by equations involving R or R': When 1200 chips are produced per day, the rev- enue is $22,000 and the marginal revenue is $.75 per chip. (b) If the marginal cost of producing 1200 chips is $1.5 per chip, what is...
Total revenue is in dollars and x is the number of units. time left... 7:43:29 Suppose that the total revenue function for a commodity is R = 64x - 0.02x2. (a) Find R(100) $ Tell what it represents. The revenue increases by about this amount when the number of units is increased from 100 to 101. 100 units produce this amount of revenue. 101 units produce this amount of revenue. The actual revenue of the 100th unit is this amount....
Question 3-4
SESSION 13 The marginal revenue is the rate of change in total revenue per unit increase in output, Q The marginal cost is the rate of change in total cost per unit increase in output, Q AR is defined as average revenue per unit for the first Q su ccessive units sold. AR is determined by dividing total reven ue by the quantity sold, Q The AR function is equal to price, P. where Pis given by the...
please help explain how to work these problems,
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...
The cost of producing q items is C(q) = 2500+ 18q dollars. (a) What is the marginal cost of producing the 100th item? the 1000th item? The marginal cost to produce the 100th unit is $ The marginal cost to produce the 1000th unit is $ (b) What is the average cost of producing 100 items? 1000 items? The average cost of producing 100 units is $ per unit. The average cost of producing 1000 units is $ per unit.
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