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
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...
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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4e551fc8-03b8-444c-a59d-fae2ae152c95%2F5a0003eb-7cc9-4764-8b02-b98aa75be193%2Fngfff1d_processed.jpeg&w=3840&q=75)
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.
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