The total cost C for a manufacturer during a given time
period is a function of the number N of items produced
during that period. To determine a formula for the total cost, we
need to know the manufacturer's fixed costs (covering
things such as plant maintenance and insurance), as well as the
cost for each unit produced, which is called the variable
cost. To find the total cost, we multiply the variable cost by
the number of items produced during that period and then add the
fixed costs.
The total revenue R for a manufacturer during a given time
period is a function of the number N of items produced
during that period. To determine a formula for the total revenue,
we need to know the selling price per unit of the item. To find the
total revenue, we multiply this selling price by the number of
items produced.
The profit P for a manufacturer is the total revenue minus
the total cost. If this number is positive, then the manufacturer
turns a profit, whereas if this number is negative, then
the manufacturer has a loss. If the profit is zero, then
the manufacturer is at a break-even point.
Suppose that a manufacturer of widgets has fixed costs of $9000 per
month and that the variable cost is $15 per widget (so it costs $15
to produce 1 widget). Suppose the manufacturer of widgets sells the
widgets for $21 each.
(a) Use a formula to express this manufacturer's total revenue
R in a month as a function of the number of widgets
produced in a month. (Let N be the number of widgets
produced each month.)
R = _____________
(b) Use a formula to express the profit P of this
manufacturer as a function of the number of widgets produced in a
month. (Let N be the number of widgets produced each
month.)
P = ______________
(c) Express using functional notation the profit P of this
manufacturer if there are 200 widgets produced in a month, and then
calculate that value.
P( ______ ) = $ ________
(d) At the production level of 200 widgets per month, does the
manufacturer turn a profit or have a loss?
Is it a profit, loss, or break even?
What about the production level of 1000 widgets per month?
Is it a profit, loss, or break even?
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The total cost C for a manufacturer during a given time period is a function of...
i dont have anyore info to provdie AT&T LTE е 70% 9:32 PM 을 webassign.net The total cost C for a manufacturer during a given time period is a function of the number N of items produced during that period. (In this exercise, we measure all monetary values in dollars.) To determine a formula for the total cost, we need to know the manufacturer's fixed costs (covering such things as plant maintenance and insurance) as well as the cost for...
A manufacturer of widgets has fixed costs of $1200 per month, and the variable cost is $49 per widget (so it costs $49 to produce 1 widget). Let N be the number of widgets produced in a month. (a) Find a formula for the manufacturer's total cost C as a function of N. C(N) - 49N+1200 (b) The highest price p, in dollars, of a widget at which N widgets can be sold is given by the formula p =...
DeWitt’s Widgets have fixed costs of $1.65 million and also have to spend $9.95 for each widget they produce. The function ?(?) = 2000000 ? − 0.055 ? gives the number of widgets that the market is demanding. (This gives the number of items that DeWitt’s Widgets produces and also the number of items that they sell when they charge ? dollars per widget. DeWitt’s produces items on demand.) 1. In this problem you will identify formulas for 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...
DeWitt’s Widgets have fixed costs of $1.65 million and also have to spend $9.95 for each widget they produce. The function W(p) = 2000000(EXP)-0.005p gives the number of items that Dewitts Widgets produces and also the number of items that they sell when they charge p, dollars per widget What is the the price that would allow the company to break-even. Write a complete factual sentence to interpret the value
Suppose a ceiling fan manufacturer has the total cost function C(x) = 35x + 480 and the total revenue function R(x) = 47x. (a) What is the equation of the profit function P(x) for this commodity? P(x) = (b) What is the profit on 20 units? P(20) = Interpret your result. The total costs are less than the revenue. The total costs are more than the revenue. The total costs are exactly the same as the revenue. (c) How many...
1. (a-g 4% each; h-I 7% each) An economist estimated that the Total Cost function is TC = $100 + 30Q + 20Q2 where Q is the number of widgets produced. Also, the marginal cost is calculated as follows: MC = $30 + 40Q Based on this information, determine the following for producing 10 units of output: Average Total Costs= $_______________ Marginal Cost= $_______________ Assume the firm produces 10 units of output and that it will shut down if it...
I need help solving this math problem please provide the formula on how to solve this. A company produces very unusual CD's for which the variable cost is $ 7 per CD and the fixed costs are $ 30000. They will sell the CD's for $ 56 each. Let xx be the number of CD's produced. Write the total cost CC as a function of the number of CD's produced. C = $ _____________. Write the total revenue RR as a...
The revenue function R(x) and the cost function C(x) for a particular product are given. These functions are valid only for the specified range of values. Find the number of units that must be produced to break even Rx)200x-x2 C)5x+8750:0sxs100 The manufacturer must produce units to break even.
The revenue function R(x) and the cost function C(x) for a particular product are given. These functions are valid only for the specified range of values. Find the number of units that must be produced to break even. R(x) = 200x - 2x2 ; C(x) = - x2 + 5x + 8450 ; 0 ≤ x ≤100 The manufacturer must produce --------------- units to break even.