A company produces very unusual CD's for which the variable cost is $ 15 per CD and the fixed costs are $ 50000. They will sell the CD's for $ 79 each. Let x be the number of CD's produced. Write the total cost C as a function of the number of CD's produced. C =$ Write the total revenue R as a function of the number of CD's produced. R=$ Write the total profit P as a function of the number of CD's produced. P=$ Find the number of CD's which must be produced to break even. The number of CD's which must be produced to break even is Question Help: Video Submit Question

A company produces very unusual CD's for which the variable cost is $ 15 per CD and the fixed costs are $ 50000. They will sell the CD's for $ 79 each. Let x be the number of CD's produced. Write the total cost C as a function of the number of CD's produced. C =$ Write the total revenue R as a function of the number of CD's produced. R=$ Write the total profit P as a function of the number of CD's produced. P=$ Find the number of CD's which must be produced to break even. The number of CD's which must be produced to break even is Question Help: Video Submit Question

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: n order to maximize profits, you should carry customers per load.

A: Marginal Cost- it is the cost of production of one additional unit produced. MCn= TCn-TCn-1 Average…

Q: The above cost curves are for a firm producing flour, which is measured in pounds. 1. What is the…

A: A cost curve is a graph that shows the costs of production as a function of the overall quantity…

Q: Find the value of the profit when the total revenue is $65 billion and total cost is $25 billion?

Q: Calculate the profits of the first if it is given that the total revenue generated is $60,000 and…

A: Revenue is total amount of income generated by the sale of goods or services , (revenue = Total…

Q: This is a graph of our firm’s costs. Label the lines on the graph using the following labels:…

A: Cost of production is those costs which are incurred by the manufacturer for manufacturing the…

Q: This is a graph of our firm’s costs. Label the lines on the graph using the following labels:…

A: The Average fixed cost is constantly declining. The average variable cost curve is lower than the…

Q: Find average revenue if output is 100 units and total revenue is $2000

A: The information being given to us is:- Total revenue of firm = $2000 Output = 100 units We have to…

Q: graph the marginal cost, average total cost, average variable cost on one graph based on the data…

A: The average cost is equal to the per unit cost. The average cost is equal to the total cost divided…

Q: Cost, revenue, and profit are in dollars and x is the number of units. A firm knows that its…

A: The cost of production in economics means the total expenses incurred by a firm in the process of…

Q: Describe several ways a firm could lower their costs.

A: Cost reduction is the process by which a business attempts to generate a specific level of output at…

Q: If Tom sells 600 sandwiches for $10 and has an average total cost of $5, what is his profit? a)…

A: Given : No. of sandwiches Tom sells = 600 Price of sandwich = $10 Average Total Cost = $5.

Q: Fixed-Cost Fallacy Describe a decision made by your company that involved costs that should have…

A: A fixed-cost fallacy is when a company assumes that a cost that does not change with the level of…

Q: If total revenue is $300 and output is 10 units Find average revenue

A: According to the above mentioned question, we have:- Total revenue = $300 Output = 10 units Average…

Q: For each customer load, calculate both the marginal cost and the average cost. Then answer the…

A: Given,CustomerTotal costMarginal costAverage cost13023434245457069071148142

Q: (a) How can the marginal revenue be found? OA. Find R(x) - C(x). O B. Find the derivative of R(x).…

A: Marginal revenue measures the change in a firm's total revenue due to the sale of additional units…

Q: 3.2. MP34U. Music Ventures sells a very popular MP3 player, the MP34u. The firm currently sells one…

A: Introduction Demand elasticity is a measure of how much the total demand for a good or service…

Q: total revenue (TR) and total variable cost

Q: Find the marginal profit function if cost and revenue are given by C(x) = 190 + 0.6x and R(x) = 7x -…

A: Answer to the question is as follows:

Question

A company produces very unusual CD's for which the variable cost is $ 15 per CD and the fixed costs are $
50000. They will sell the CD's for $ 79 each. Let a be the number of CD's produced.
Write the total cost C as a function of the number of CD's produced.
C =$
Write the total revenue R as a function of the number of CD's produced.
R=$
Write the total profit P as a function of the number of CD's produced.
P=$
Find the number of CD's which must be produced to break even.
The number of CD's which must be produced to break even is
Question Help:
Video
Submit Question

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

I am not sure how to do this
“A firm that earns only normal profit is not covering all its costs.” Do you agree or disagree?
5. Profit: iPhones Assume that Apple's marginal cost function for the manufacture of x 32GB iPhone 6's per hour at the Foxconn Technology Group is C'(x)=160-0.002.x and that Apple sells iPhone 6's for an average wholesale price of $580 each. a. Find the cost function C (x)
Rob quit his $4,000/month coffee shop position and started an ice-cream business. Rob does not get paid a salary for running the ice-cream business. When calculating the economic profit of the ice-cream business, his old $4,000 coffee shop salary is Select one: a. counted as part of the total revenue. b. counted as part of the implicit costs. c. counted as part of the explicit costs. d. ignored.
Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x copies of an edition is given by C(x) = 60 + 0.10x + 0.001x² dollars. (a) Calculate the marginal profit function, in dollars per copy. P'(x) = (b) Compute the marginal profit, if you have produced and sold 500 copies of the latest edition. When you produce and sell 500 copies, the marginal profit is dollars per copy. Interpret the results: The approximate loss from the production and sale of the 501st сорy is dollars.
Need help figuring this out step by step attached is a formula sheet that you can use to follow
Find the marginal cost, marginal revenue, and marginal profit functions. C(x) = 7x²; R(x) = x³ + 11x + 15 marginal cost marginal revenue marginal profit Find all values of x for which the marginal profit is zero. Interpret your answer. (Enter your answers as a comma-separated list.) X =
As a firm increases its output, we expect marginal cost to Increase. Decrease. Remain the same. Impossible to predict.
Total Revenue function = 164x Total Cost function = 0,01x2+20x+300 x shows unit of production. Find : a. how much x we need to produce to reach maximum profit b. maximum profit c. prove why the x you get will reach maximum profit
I already filled out the table, but I don't understand how to answer 3. a, b, and c.
A company produces very unusual CD's for which the variable cost is $ 9 per CD and the fixed costs are $ 50,000. They will sell the CD's for $ 57 each. Let x be the number of CD's produced and sold. a. Write the total cost TC as a function of the number of CD's produced and sold. TC = $ b. Write the total revenue TR as a function of the number of CD's produced and sold. TR = $ c. Write the total net income NI as a function of the number of CD's produced and sold. NI = $ d. Find the number of CD's which must be produced and sold to breakeven. The number of CD's which must be produced and sold to breakeven is Round UP to the nearest whole number of CDs. Submit Question
Hand written solutions are strictly prohibited