12. The weekly demand for the LectroCopy photocopying machine is given by the equation p= 2000 - 0.04x dollars and x denotes the quantity demanded. The weekly total cost to manufacture these copiers is given by C(x) = 0.000002.x -0.02x² + 1000x + 120,000 where C(x) denotes the total cost in producing x units. (1 < x < 50,000) where p denotes the wholesale unit price in %3D %3D a. Find the Average Cost Function C(x), Revenue Function R(x), and Profit Function P (x). b. Find the marginal Average Cost Function, the marginal Revenue Function and the Marginal Price Function. c. Compute C'(3000), R'(3000), and P'(3000) and interpret their meanings.

12. The weekly demand for the LectroCopy photocopying machine is given by the equation p= 2000 - 0.04x dollars and x denotes the quantity demanded. The weekly total cost to manufacture these copiers is given by C(x) = 0.000002.x -0.02x² + 1000x + 120,000 where C(x) denotes the total cost in producing x units. (1 < x < 50,000) where p denotes the wholesale unit price in %3D %3D a. Find the Average Cost Function C(x), Revenue Function R(x), and Profit Function P (x). b. Find the marginal Average Cost Function, the marginal Revenue Function and the Marginal Price Function. c. Compute C'(3000), R'(3000), and P'(3000) and interpret their meanings.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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