(a) A manufacturer has a fixed cost of $2200 and a production cost of $ 60 for each unit produced. The price-demand function was determined to be p(x)=800-2x. (i) Derive the cost function, C(x). (i) Find the revenue function, R(x).

(a) A manufacturer has a fixed cost of $2200 and a production cost of $ 60 for each unit produced. The price-demand function was determined to be p(x)=800-2x. (i) Derive the cost function, C(x). (i) Find the revenue function, R(x).

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

(a) A manufacturer has a fixed cost of $2200 and a production cost of $ 60 for each unit produced. The
price-demand function was determined to be p(x)=800-2x.
(i) Derive the cost function, C(x).
(i) Find the revenue function, R(x).

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