Homework Help is Here – Start Your Trial Now!
Math
Calculus
6. The demand function for a certain product is given by Q=65-5P where P is the price in E and Q is the demand in units. (a) Show that the total revenue ER is given by the function R=130-020 The production involves a fised cost of 30 and an additional cost of £2 per unit produced (b) Write an expression for the total cost EC to produce Q units of this product (e) Find the break-even points. (d) On the same sketch, show these two functions. State clearly on your sketch the breakeven points.

6. The demand function for a certain product is given by Q=65-5P where P is the price in E and Q is the demand in units. (a) Show that the total revenue ER is given by the function R=130-020 The production involves a fised cost of 30 and an additional cost of £2 per unit produced (b) Write an expression for the total cost EC to produce Q units of this product (e) Find the break-even points. (d) On the same sketch, show these two functions. State clearly on your sketch the breakeven points.

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
See similar textbooks
icon
Related questions
Question
only 6th
dy (a) Find dx (b) Find the stationary point on the curve. (c) Find the marginal revenue when quantity is 20 units. (d) Given an interpretation of your answer of (c) above. (e) Find dx () Using your answer of (e), justify that the stationary point gives a maximum value for the revenue. (g) With reference to the behaviour of the revenue function discuss what should be the strategy of the producer of this product. (3) 6. The demand function for a certain product is given by Q= 65-5P where P is the price in E and Q is the demand in units. (a) Show that the total revenue ER is given by the function R=13Q-0.20 The production involves a fixed cost of £30 and an additional cost of £2 per unit produced (b) Write an expression for the total cost fC to produce Q units of this product (c) Find the break-even points. (d) On the same sketch, show these two functions. State clearly on your sketch the breakeven points.
Transcribed Image Text:dy (a) Find dx (b) Find the stationary point on the curve. (c) Find the marginal revenue when quantity is 20 units. (d) Given an interpretation of your answer of (c) above. (e) Find dx () Using your answer of (e), justify that the stationary point gives a maximum value for the revenue. (g) With reference to the behaviour of the revenue function discuss what should be the strategy of the producer of this product. (3) 6. The demand function for a certain product is given by Q= 65-5P where P is the price in E and Q is the demand in units. (a) Show that the total revenue ER is given by the function R=13Q-0.20 The production involves a fixed cost of £30 and an additional cost of £2 per unit produced (b) Write an expression for the total cost fC to produce Q units of this product (c) Find the break-even points. (d) On the same sketch, show these two functions. State clearly on your sketch the breakeven points.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 3 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Calculus: Early Transcendentals
Calculus: Early Transcendentals
Calculus
ISBN:
9781285741550
Author:
James Stewart
Publisher:
Cengage Learning
Thomas' Calculus (14th Edition)
Thomas' Calculus (14th Edition)
Calculus
ISBN:
9780134438986
Author:
Joel R. Hass, Christopher E. Heil, Maurice D. Weir
Publisher:
PEARSON
Calculus: Early Transcendentals (3rd Edition)
Calculus: Early Transcendentals (3rd Edition)
Calculus
ISBN:
9780134763644
Author:
William L. Briggs, Lyle Cochran, Bernard Gillett, Eric Schulz
Publisher:
PEARSON
Calculus: Early Transcendentals
Calculus: Early Transcendentals
Calculus
ISBN:
9781319050740
Author:
Jon Rogawski, Colin Adams, Robert Franzosa
Publisher:
W. H. Freeman
Precalculus
Precalculus
Calculus
ISBN:
9780135189405
Author:
Michael Sullivan
Publisher:
PEARSON
Calculus: Early Transcendental Functions
Calculus: Early Transcendental Functions
Calculus
ISBN:
9781337552516
Author:
Ron Larson, Bruce H. Edwards
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS