A firm will break even (no profit and no loss) as long as revenue just equals cost. The value of x (the number of items produced and sold) where C(x)=R(x) is called the break-even point. Assume that the below table can be expressed as a linear function. Find (a) the cost function, (b) the revenue function, and (c) the profit function. (d) Find the break-even point and decide whether the product should be produced, given the restrictions on sales. Fixed cost Variable cost Price of item $400 $10 $30 According to the restriction, no more than 18 units can be sold. Question content area bottom Part 1 (a) The cost function is C(x)=enter your response here. (Simplify your answer.) Part 2 (b) The revenue function is R(x)=enter your response here. (Simplify your answer.) Part 3 (c) The profit function is P(x)=enter your response here. (Simplify your answer.) Part 4 (d) Select the correct choice below and fill in the answer box within your choice. (Type a whole number.) A. The break-even point is enter your response here units. Thus, the product should be produced, given the restriction on sales. B. The break-even point is enter your response here units. Thus, the product should not be produced, given the restriction on sales.
A firm will break even (no profit and no loss) as long as revenue just equals cost. The value of x (the number of items produced and sold) where C(x)=R(x) is called the break-even point. Assume that the below table can be expressed as a linear function. Find (a) the cost function, (b) the revenue function, and (c) the profit function. (d) Find the break-even point and decide whether the product should be produced, given the restrictions on sales. Fixed cost Variable cost Price of item $400 $10 $30 According to the restriction, no more than 18 units can be sold. Question content area bottom Part 1 (a) The cost function is C(x)=enter your response here. (Simplify your answer.) Part 2 (b) The revenue function is R(x)=enter your response here. (Simplify your answer.) Part 3 (c) The profit function is P(x)=enter your response here. (Simplify your answer.) Part 4 (d) Select the correct choice below and fill in the answer box within your choice. (Type a whole number.) A. The break-even point is enter your response here units. Thus, the product should be produced, given the restriction on sales. B. The break-even point is enter your response here units. Thus, the product should not be produced, given the restriction on sales.
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter4: Calculating The Derivative
Section4.CR: Chapter 4 Review
Problem 87CR
Related questions
Question
|
A firm will break even (no profit and no loss) as long as revenue just equals cost. The value of x (the number of items produced and sold) where
C(x)=R(x)
is called the break-even point. Assume that the below table can be expressed as a linear function. |
|||||||
|
Find (a) the cost function, (b) the revenue function, and (c) the profit function.
(d) Find the break-even point and decide whether the product should be produced, given the restrictions on sales.
|
According to the restriction, no more than
18
units can be sold. |
Question content area bottom
Part 1
(a) The cost function is
C(x)=enter your response here.
(Simplify your answer.)
Part 2
(b)
The revenue function is
R(x)=enter your response here.
(Simplify your answer.)
Part 3
(c) The profit function is
P(x)=enter your response here.
(Simplify your answer.)
Part 4
(d) Select the correct choice below and fill in the answer box within your choice.
(Type a whole number.)
The break-even point is
enter your response here
units. Thus, the product should be produced, given the restriction on sales.The break-even point is
enter your response here
units. Thus, the product should not be produced, given the restriction on sales.Expert Solution
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