A producer faces a fixed cost of Rs. 50 and a variable cost Rs. 5 per unit of output when he produces less than 200 units of output. Assuming that total cost function is linear, determine the equation of the total cost of function. • What is the break-even level of output if the price of output is Rs. 10 per unit. Also draw the relevant graphs.

A producer faces a fixed cost of Rs. 50 and a variable cost Rs. 5 per unit of output when he produces less than 200 units of output. Assuming that total cost function is linear, determine the equation of the total cost of function. • What is the break-even level of output if the price of output is Rs. 10 per unit. Also draw the relevant graphs.

Name: A producer faces a fixed cost of Rs. 50 and avariable cost Rs. 5 per
Uploaded: 2024-03-20T07:07:26.000Z
Channel: Bartleby
Description: A producer faces a fixed cost of Rs. 50 and avariable cost Rs. 5 per unit of output when he produces lessthan 200 units of output.• Assuming that total cost function is linear, determine theequation of the total cost of function.• What is the break-

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Related questions

Q: The relationship between labor (L) and output (Q) is given via the following equation: Q= 6L^2 -…

A: Using double derivative test to vet maximum range for maximum output

Q: A company operates two plants which manufacture the same item and whose total cost functions are C₁…

A: A cost function is a critical parameter that defines how well a machine learning model performs on a…

Q: A sugar refinery can produce x tons of sugar per week at a weekly cost of 0.1x2 + 3x+ 1690 dollars.…

Q: b) Find the total cost if the marginal cost is MC 3e0.50 and fixed costs are 10.

Q: E.X; Let T = {E₁ = (-∞,a): a = R}U{R,Ø} be a topology on R and let A = [2,3), B=(3,4), C = (1,5], D…

A: It is given that, T = Ea=-∞, a : a∈ℝ∪ℝ, ∅ is a topology on ℝ. We have to find the closure of the…

Q: Suppose a company sells a certain product of x quantity and the price in dollars that modeled by the…

Q: The total cost (in dollars) of producing a motorcycle frames is C(x) = 13000 + 300x. (A) Find the…

A: The total cost of producing motorcycle frames is

Q: The supply function of a form is given as p=x^2+4x+5. Find the Producer’s Surplus given that the…

Q: How do you solve the question in the attached image?

Q: A cookie company can produce 500 cases of chocolate chip cookies a week at a total cost of $3,000…

A: Given that : A cookie company can produce 500 cases of chocolate chip cookies a week at a total cost…

Q: A manufacturer's total cost equation per day is given by the equation TC = 440 + 4q +,0001Q². If…

A: Given: TC=440+4q+0001Q2 To find: Solution

Q: Suppose that in the inventory problem, there is an annual cost, k₁, for storing a single unit, plus…

A: Given:q=k1+2k22fM Where:f is the fixed cost per order or production run.M is the annual…

Q: The demand function for the product manufactured by a monopolist is p = 22 − 0.16q. The total cost…

Q: A firm in a competitive market must sell its product for $250 per unit. The cost unit (per month) is…

A: Please see the explanation below

Q: Graph the break even points: Cost Function = C(x)=1800+500x Revenue function = R(x)= 500-0.04x

Topic Video

Question

A producer faces a fixed cost of Rs. 50 and a
variable cost Rs. 5 per unit of output when he produces less
than 200 units of output.
• Assuming that total cost function is linear, determine the
equation of the total cost of function.
• What is the break-even level of output if the price of
output is Rs. 10 per unit. Also draw the relevant graphs.
• Determine the producer's net revenue if output is 12
units and the price of output is Rs. 5, Rs. 10 and Rs. 15
respectively.

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 with 2 images

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Optimization$

Learn more about

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

Similar questions

Find the coordinate vector [x]B of the vector x relative to the given basis B. {b1, b2} 23) b1 =| b2 and B = X = -18 B) A) -30 72 -18 25.
Explain, why the graph of the total cost function is always above the x-axis and, can never move downward as you go from left to right. a) Because the total cost includes the cost of all previously made items and it increases when more items are made. b) Because the total cost includes the cost of all previously made items and it decreases when more items are made. c) Because the total cost includes fixed cost and it increases when more items are made. d) Because the total cost includes variable cost and it increases when more items are made. Is the same thing true of the graph of the average cost function? a) It is true because the average cost can increase as more items are made. b)It is true because the average cost can decrease as more items are made. c) It is not true because the average cost can decrease as more items are made. d) It is not true because the average cost can increase as more items are made.
Please don't provide handwritten solution...
Find the total cost of producing x items if fixed costs are $500 and marginal cost is 6x MC= 10+ x² +1 %3D 20T
When 40 units are produced, the average cost is 200 and the marginal cost is 150. Estimate the total cost of producing 41 units.
Eid-ul-Adha is right around the corner. Every year End largely affects the commodity market. Suppose, Government has imposed a maximum selling price of per kg onion at 50 taka, whereas the market price was 70 taka per kg before the announcement a. explain the effects of this ceiling price on the demand and supply of the onion market. In your graph , show the effects of the price changes on quantity demanded and quantity supplied. Does it create excess supply or excess demand? What will happen to the market price? b. In the above situation, who (buyers or sellers) is going to get the benefit from such policy? Explain it in your own words (due: use a graph where a Price Ceiling is binding)
1. Anentrepreneurintends to sell his product for 8.4$ each. The daily cost or expenses can be expressed as x+9.1+.11x^2, where x is the no. of product sold daily. Find the no. of products that will maximize the profit per day.
34. Due to the rising demand for face masks, a manufacturer decides to target a daily profit of PhP 1,000,000.00. If P(x) = 2r+ x- 10 represents average total daily cost at x assumed at PhP 500.00, what is the difference between the daily target profit and average total daily cost? B. PhP 420, 510.00 C. PhP 499,510.00 A. PhP 399, 520.00 105.00 D. PhP 599,
The graph of a cost function is shown below, where C(g) is the total production cost, in dollars, to make g units. a. Suppose 2 units are produced. What is the total cost? AC(q) total production cost of q units 220- What is the average cost when 2 units are produced? 200- $ per unit 180- 160 140- 120- 100 80- 60어 40어 20어 b. Suppose 5 units are produced. What is the total cost? What is the average cost when 5 units are produced? $ per unit c. Use the graph of C(q) to visually determine at approximately what value of q is average cost minimized. 0- 4 units q. number of units Approximate the total cost to produce this number of units. Approximate the average cost to produce this number of units. per unit What is the marginal cost at this production level? $ per unit
Let’s assume that in Kansas, a family farmer sells wheat in a perfectly competitive market. After increasing the production of wheat from 220 bushels to 240 bushels, the total revenue of the farmer increases from $6,600 to $6,700. What was the marginal revenue of this increase in production in dollar?
Cost, revenue, and profit are in dollars and x is the number of units.If the marginal cost for a product is MC = 6x + 50 and the total cost of producing 25 units is $4000, find the cost of producing 10 units.
Suppose the cost function is C(x) = 5/2x + 550, and the revenue function is R(x) = 25x. Graph each function and find the break-even point. How many units must be sold to break even?