The revenue for a product is R(x) = - 0.004x2 + 21x – 6200 and the cost is C(x) = 0.02x + 38 for x units produced and sold. 1. Find the marginal profit for 2800 units. 2. Should output be increased or decreased to generate a higher profit?
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The revenue for a product is R(x) = - 0.004x2 + 21x – 6200 and the cost is C(x) = 0.02x + 38 for x units produced and sold.
1. Find the marginal profit for 2800 units.
2. Should output be increased or decreased to generate a higher profit?
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- X If total revenue received from the sale of x items is given by R(x) = 10 In (4x + 1), while the total cost to produce x items is C(x) = ¹ (a) The marginal revenue (b) The profit function P(x) (c) The marginal profit when x = 40 (d) Interpret the results of part (c). (a) How can the marginal revenue be found? A. Find R(x) - C(x). B. Find the derivative of R(x). C. Find the derivative of R(x) - C(x). R( 2 ). D. Find R find the following.Given Cost and Price (demand) functions C(q) = 110q + 45000 and p(q) = - 2.8q + 800, what profit can be earned if the price is set to be $550 per item? U The profit is $ 1,?9 (Round to the nearest cent.) A company produces a special new type of TV. The company has fixed costs of $499,000, and it costs STT00 to produce each TV. The company projects that if it charges a price of $2300 for the TV, it will be able to sell 850 TVs. If the company wants to sell 900 TVs, however, it must lower the price to $2000. Assumo a linear demand. What is the marginal profit if 200 TVs are produced It is $ 0 per item. (Round answer to nearest dollar.)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 $15 $300 $30 According to the restriction, no more than 17 units can be sold. (a) The cost function is C(x) =. (Simplify your answer.)