ec8bbe18814005fde4649?start=true.2 Modeling with Linear Functions OPENI am< Previous3 attempts remaining.TAMU_QID: BM_0004cA company has fixed costs of $540 and can produce 20 items for a total cost of $1,380. The company then sells these items to the public for$72 each.Determine each of the following functions. Enter all answers below in slope-intercept form, using exact numbers.a. Find the company's linear cost function.C(z) =b. Find the company's linear profit function.P(z) =%3DSubmit answer456 PM86°F Sunny 00069/13/2021

Profit is the difference between total revenue and total cost. Total cost is the expenditure that is…

Answered: A company has fixed costs of $540 and…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The total revenue function for a product is given by R=655x dollars, and the total cost function for this same product is given by C=19,250+70x+x2, where C is measured in dollars. For both functions, the input x is the number of units produced and sold. a. Form the profit function for this product from the two given functions. b. What is the profit when 25 units are produced and sold? c. What is the profit when 43 units are produced and sold?
If the Marginal Cost for a product is found to be MC= 8x+60 , and the Marginal Revenue is given as MR= 1200 and the cost of 8 units is found to be $1600, what are: the Total Costs? the Fixed Costs? the Total Profit? the production level, x, that yields Maximum Profit? the corresponding Maximum Profit?
The marginal revenue (in thousands of dollars) from the sale of x handheld gaming devices is given by the following function. R'(x) = 4x (x²+25,000) (a) Find the total revenue function if the revenue from 120 devices is $34,166. (b) How many devices must be sold for a revenue of at least $50,000? (a) The total revenue function is R(x), given that the revenue from 120 devices is $34,166. (Round to the nearest integer as needed.) (b) devices must be sold to generate a revenue of at least $50,000 (Type a whole number.)
The daily demand function for x LED lights sold by a major retailer is p = 1112.5 0.75x dollars, and the average cost of sales is C = 250 + 3x dollars. Find the quantity that will maximum profit, the selling price at that quantity and the maximum profit. a) Selling LED lights will maximum profit. b) The selling price at the answer in part (a) is $ c) The maximum profit is $
Consider the following total revenue function for a hammer. R 44x 0.01x2 (a) The sale of how many hammers, x, will maximize the total revenue in dollars? x = 2200 hammers Find the maximum revenue. $48400 (b) Find the maximum revenue if production is limited to at most 1200 hammers. $ If the total revenue function for a computer is R(x) = 1000x - 35x2-x³, find the level of sales, x, that maximizes revenue and find the maximum revenue in dollars. x = R(x) = $ computers If the total cost function for producing x lamps is C(x) = 3240 + 37x+ 0.9x2 dollars, producing how many units, x, will result in a minimum average cost per unit? units Find the minimum average cost per unit. $ If the total cost function for a product is C(x) = 10+ 0.1x2 dollars, producing how many units, x, will result in a minimum average cost per unit? x= units Find the minimum average cost per unit. $ Find the derivative of the function. f(x) = ex-xe
Suppose a company has fixed costs of $1500 and variable costs of (3/4)x + 1120 dollars per unit, where x is the total number of units produced. Suppose further that the selling price of its product is 1200 − (1/4)x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.)x = (b) Find the maximum revenue. (Round your answer to the nearest cent)$ (c) Form the profit function, P(x), from the cost and revenue functions.P(x) = Find maximum profit. (Round your answer to the nearest cent.)$ (d) What price will maximize the profit? (Round your answer to the nearest cent.)
Find the average cost function if cost and revenue are given by C(x) = 170 + 3.6x and R(x) = 5x - 0.01x. The average cost function is C(x) =.
Given a cost function: C(x) = x² - 200x - 3500 And the following revenue function: R(x) = 6x2-400x What level of production will yield a profit of $6,000? 40 or 50 units of production 60 units of production 30 or 60 units of production 30 units of production None of these options 50 units of production
Assume that cost curves have the standard U-shape. Suppose average total cost (ATC) is at its minimum when the output is 10 units. Also, we know that marginal cost of the 9th unit is $5. What is the ATC when 10 units are produced? 1) $5. 2) Greater than $5. 3) Less than $5. 4) There isn't sufficient information to answer the question.
The cost of producing a units of stuffed alligator toys is c(x) = 0.001x² + 8x + 7000. Find the marginal cost at the production level of 1000 units. dollars/unit

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