15 Suppose a company has fixed costs of $1,500 and variable costs per unit of -x+ 1,520 dollars, where x is the total 16 1 number of units produced. Suppose further that the selling price of its product is 1,600 - x dollars per unit. 16 (a) Form the cost function and revenue function (in dollars). C(x) = 40 R(x) = 63900 (x, y) = X Find the break-even points. x = 40 X X (b) Find the vertex of the revenue function. ([ Identify the maximum revenue. $ 40 X (c) Form the profit function from the cost and revenue functions (in dollars). P(x) = 1598 X Find the vertex of the profit function. (x, y) = Identify the maximum profit. +0000
15 Suppose a company has fixed costs of $1,500 and variable costs per unit of -x+ 1,520 dollars, where x is the total 16 1 number of units produced. Suppose further that the selling price of its product is 1,600 - x dollars per unit. 16 (a) Form the cost function and revenue function (in dollars). C(x) = 40 R(x) = 63900 (x, y) = X Find the break-even points. x = 40 X X (b) Find the vertex of the revenue function. ([ Identify the maximum revenue. $ 40 X (c) Form the profit function from the cost and revenue functions (in dollars). P(x) = 1598 X Find the vertex of the profit function. (x, y) = Identify the maximum profit. +0000
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:Suppose a company has fixed costs of $1,500 and variable costs per unit ofx + 1,520 dollars, where x is the total
15
16
1
number of units produced. Suppose further that the selling price of its product is 1,600 --x dollars per unit.
16
(a) Form the cost function and revenue function (in dollars).
40
C(x)
R(x)
=
=
63900
Find the break-even points.
x = 40
(x, y) =
(b) Find the vertex of the revenue function.
› = ([
X
X
Identify the maximum revenue.
$40
(x, y): =
(c) Form the profit function from the cost and revenue functions (in dollars).
P(x) = 1598
Find the vertex of the profit function.
X
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Identify the maximum profit.
$63900
X
(d) What price will maximize the profit? (Round your answer to the nearest cent.)
$ 1598
X
See the rounding prompt for how many decimal places are needed.
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