Suppose that the revenue R, in dollars, from selling x cell phones, in hundreds, is R(x)...
SHOW ALL YOUR WORK AND WRITE DOWN VERY NEATLY 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...
Let R(x), C(x), and P(x) be, respectively, the revenue, cost, and profit, in dollars, from the production and sale of x items. If R(x) = 5x and C(x) = 0.004x2 + 1.1x + 70, find each of the following. a) P(x) b) R(100), C(100), and P(100) c) R'(x), C'(x), and P'(x) d) R' (100), C'(100), and P'(100) a) P(x) = (Use integers or decimals for any numbers in the expression.) b) R(100) = $ (Type an integer or a decimal.)...
Suppose a company's revenue function is given by R(q) = - q° + 200q and its cost function is given by C(q) = 160 + 11q, where q is hundreds of units sold/produced, while R(q) and C(q) are in total dollars of revenue and cost, respectively. A) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your answer.) MP(q) B) How many items (in hundreds) need to be sold to maximize profits?...
Graphs of the cost C(x), revenue R(x) and the profit P(x), in thousands of dollars, are shown, where x is the number of thousands of items produced. (a) Use the graph to find the formula for the revenue R(x). (b) The profit is given by P(x) = – x2 + 15x² - 27x- 50. What is the formula for the cost function C(x)? (c) Report the fixed costs. (d) Report the minimum marginal cost. (e) What is the largest profit...
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...
The revenue equation (in hunderds of millions of dollars) for barley production in a certain country is approximated by R(x)=0.0632x2 + 1.2443x + 2.2473 where x is in hundreds of millions of bushels. Find the marginal-revenue equation and use it to find the marginal revenue for the production of the given number of bushels. (a) The marginal-revenue equation is R′(x)= -------------------------. (Round to four decimal places as needed.) (b) Find the marginal revenue for the production of 200,000,000 bushels.The marginal...
The monthly revenue R achieved by selling x wristwatches is figured to be R(x) 85x - 0.2x2. The monthly cost C of selling x wristwatches is C(x) 32x+ 1700. A. How many wristwatches must the firm sell to maximize revenue? What is the maximum revenue? B. Profit is given as P(x)= R(x)-C(x). What is the profit function? C. How many wristwatches must the firm sell to maximize profit? What is the maximum profit? A. The firm must sell wristwatches to...
A company estimates that the revenue in dollars from the sale of x items is given by R(x)=3x2-4x+18. Use the differential to approximate the change in revenue from the sale of one more item when 6 items are sold. Round your answer to two decimal places.
I need to know steps please 6. For Luce Landscaping, the total revenue and total cost from the yard maintenance of x homes is given by: R = 240x-x' dollars C=2500+23x dollars Suppose that Luce is adding 6 homes per month at the moment when the 58th customer was signed At that moment, what is the effect on the total revenue, total cost, and total profit? 6. For Luce Landscaping, the total revenue and total cost from the yard maintenance...
The monthly revenue Rachieved by seling x wristwatches is figured to be R(x) = 79x - 0.2x”The monthly cost of selling x wristwatches is C(x) = 2x + 1700 (a) How many wristwatches must the firm sell to maximize revenue? What is the maximum revenue? (b) Profit is given as P(x) = R(x) - CIX). What is the profit function? (c) How many wristwatches must the firm sell to maximize profit? What is the maximum profit? (d) Provide a reasonable...