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529 The cost function for q units of a certain item is C(q) = 109 +...
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 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...
Suppose a company's revenue function is given by R(q) = - q° + 200q and its...
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?...
linear revenue function is R = 34x. (Assume R is measured in dollars.) (a) What is...
linear revenue function is R = 34x. (Assume R is measured in dollars.) (a) What is the slope m? m = (b) What is the marginal revenue MR? MR = What does the marginal revenue mean? 0 If the number of units sold is increased by this amount, the revenue decreases by O If the number of units sold is increased by this amount, the revenue increases by O Each additional unit sold decreases the revenue by this many dollars....
The cost to produce q electric cat brushes is described by the function: C(q)= 10q^2+250q, where...
The cost to produce q electric cat brushes is described by the function: C(q)= 10q^2+250q, where q is hundreds of units for volumes less than 2,000. The demand function for electric cat bushes is described by: P(q)= -q^2-3q+1280, where p represents price in dollars. 1.) What are the company's marginal cost and marginal revenue functions? 2.) Calculate the number of units that produces the maximum profit. What price should the company charge and what is the maximum profit it will...
For the cost function below, where c is the cost of producing q units of a...
For the cost function below, where c is the cost of producing q units of a product, find the marginal-cost function. What is the marginal cost at the given values of q? C(q) = 2002 - 99 +8;q=3, q=8, and q=11 c'(q) =( (Simplify your answer.) c'(3) = (Simplify your answer.) c'(8) =( (Simplify your answer.) c'(11)=[ (Simplify your answer.) 1/23/2020
Financial Mathematics Please answer question 4 and question 5 o)23:30 Oe Image Edit View Go Help En Question 4 The total cost of producing x units of a commodity per week is C(x) 200 +4x +0,1x2 (a) Fi...
Financial Mathematics
Please answer question 4 and question 5
o)23:30 Oe Image Edit View Go Help En Question 4 The total cost of producing x units of a commodity per week is C(x) 200 +4x +0,1x2 (a) Find the marginal cost when the production level is 100 units. (b) Use the marginal cost to approximate the cost of producing the 101 st unit. (c) Find the exact cost of producing the 101 st unit. (d) Assuming that the commodity is...
2. Units cost $0.50 each to produce an item and they sell for $3.00 each. The...
2. Units cost $0.50 each to produce an item and they sell for $3.00 each. The overhead in setting up production is $2,000. a) Find the cost and the revenue functions. b) Find the breakeven point. Also graph the cost and revenue functions and label the breakeven point. c) How many units must be sold to yield a profit of $2,000? d) Find the average profit function and the rate of change of the average profit when x=20 items.
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...
Question s (20 pts) For a certain manufacturer, the demand function is given by P-34 and...
Question s (20 pts) For a certain manufacturer, the demand function is given by P-34 and the total cost function is TC 357q2+1800q, find: a) Total Revenue function (4 pts) b) Profit function (5 pts) c) Marginal profit function (4 pts) d) Marginal revenue function (4 pts) e) Marginal Cost function (3 pts) +600g Question 6 (20 pts) a. Given a marginal cost function: 0.000204q-0.046q + 6. When the fuxed cost s $15,000, find the total cost for producing 200...
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...
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?...
linear revenue function is R = 34x. (Assume R is measured in dollars.) (a) What is the slope m? m = (b) What is the marginal revenue MR? MR = What does the marginal revenue mean? 0 If the number of units sold is increased by this amount, the revenue decreases by O If the number of units sold is increased by this amount, the revenue increases by O Each additional unit sold decreases the revenue by this many dollars....
The cost to produce q electric cat brushes is described by the function: C(q)= 10q^2+250q, where q is hundreds of units for volumes less than 2,000. The demand function for electric cat bushes is described by: P(q)= -q^2-3q+1280, where p represents price in dollars. 1.) What are the company's marginal cost and marginal revenue functions? 2.) Calculate the number of units that produces the maximum profit. What price should the company charge and what is the maximum profit it will...
For the cost function below, where c is the cost of producing q units of a product, find the marginal-cost function. What is the marginal cost at the given values of q? C(q) = 2002 - 99 +8;q=3, q=8, and q=11 c'(q) =( (Simplify your answer.) c'(3) = (Simplify your answer.) c'(8) =( (Simplify your answer.) c'(11)=[ (Simplify your answer.) 1/23/2020
Financial Mathematics
Please answer question 4 and question 5
o)23:30 Oe Image Edit View Go Help En Question 4 The total cost of producing x units of a commodity per week is C(x) 200 +4x +0,1x2 (a) Find the marginal cost when the production level is 100 units. (b) Use the marginal cost to approximate the cost of producing the 101 st unit. (c) Find the exact cost of producing the 101 st unit. (d) Assuming that the commodity is...
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...
Question s (20 pts) For a certain manufacturer, the demand function is given by P-34 and the total cost function is TC 357q2+1800q, find: a) Total Revenue function (4 pts) b) Profit function (5 pts) c) Marginal profit function (4 pts) d) Marginal revenue function (4 pts) e) Marginal Cost function (3 pts) +600g Question 6 (20 pts) a. Given a marginal cost function: 0.000204q-0.046q + 6. When the fuxed cost s $15,000, find the total cost for producing 200...
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