AutoTime, a manufacturer of electronic digital timers, has a monthly fixed cost of $50,000 and a production cost of $7 for each timer manufactured. The timers sell for $15 each.(a) What is the cost function C(x)?C(x) = (b) What is the revenue function R(x)?R(x) = (c) What is the profit function P(x)?P(x) = (d) Compute the profit (loss) corresponding to production levels of 3000, 6000, and 11,000 timers, respectively. (Input a negative value to indicate a loss.)3000 timers $6000 timers $11,000 timers $

Monthly Fixed cost = $50,000 Production Cost = $7 each Selling Price = $15 each

Answered: AutoTime, a manufacturer of electronic…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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AutoTime, a manufacturer of electronic digital timers, has a monthly fixed cost of $50,000 and a production cost of $7 for each timer manufactured. The timers sell for $15 each.

(a) What is the cost function C(x)?
C(x) =

(b) What is the revenue function R(x)?
R(x) =

(d) Compute the profit (loss) corresponding to production levels of 3000, 6000, and 11,000 timers, respectively. (Input a negative value to indicate a loss.)

3000 timers	$
6000 timers	$
11,000 timers	$

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