A. Express the price p as a function of the demand x, and find the domain of this function. B. Find the marginal Revenue at a production level of 1500 and interpret the result c. Sketch a graph of Revenue and Cost functions. Indicate interval in which Profit occurs and loss occurs.
A. Express the price p as a function of the demand x, and find the domain of this function. B. Find the marginal Revenue at a production level of 1500 and interpret the result c. Sketch a graph of Revenue and Cost functions. Indicate interval in which Profit occurs and loss occurs.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![Question 2.
The price - demand equation and the cost function for the
production of HDTVS are given respectively by
x =
6000 – 30 p
and C(x) = 72000+ 60 x
where x is the number of HDTVS that can be sold at a
price of $p per TV and C(x) is the total cost (in dollars)
of producing x TVs.
A. Express the price p as a function of the demand x,
and find the domain of this function.
B. Find the marginal Revenue at a production level of
1500 and interpret the result
c. Sketch a graph of Revenue and Cost functions.
Indicate interval in which Profit occurs and loss
occurs.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F10a9ffbd-134c-4e56-b134-30f8ab827782%2F600ca78b-bba6-4d29-accf-8de2fa29dc7d%2Fu3h6eli_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Question 2.
The price - demand equation and the cost function for the
production of HDTVS are given respectively by
x =
6000 – 30 p
and C(x) = 72000+ 60 x
where x is the number of HDTVS that can be sold at a
price of $p per TV and C(x) is the total cost (in dollars)
of producing x TVs.
A. Express the price p as a function of the demand x,
and find the domain of this function.
B. Find the marginal Revenue at a production level of
1500 and interpret the result
c. Sketch a graph of Revenue and Cost functions.
Indicate interval in which Profit occurs and loss
occurs.
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