Demand The demand function for a product is given byp = 8,000(1-30-0.004x)where p is the price per unit (in dollars) and x is the number of units sold. (Round your answers to the nearest whole number.)(a) Find the number of units sold when p = $500.units(b) Find the number of units sold when p = $1,100.units Minimum Average Cost The cost of producing x units of a product is modeled byC= 240 + 75x - 360 In(x),X ≥ 1.(a) Find the average cost function C.C(x) =(b) Find the minimum average cost analytically. Use a graphing utility to confirm your result. (Round your answer to two decimal places.)

Detailed explanation: Part 1: Minimum Average Cost (a) Find the Average Cost Function Cˉ(x)Cˉ(x) The…

Answered: Demand The demand function for a…

Intermediate Algebra

10th Edition

ISBN:9781285195728

Author:Jerome E. Kaufmann, Karen L. Schwitters

Publisher:Jerome E. Kaufmann, Karen L. Schwitters

Chapter9: Functions

Section9.CT: Test

Problem 16CT

See similar textbooks

Similar questions

Explain how to find the output variable in a wordp roblem that uses a linear function.
Heart Disease In a certain country, the number of deaths due to heart disease decreased from 235 in one year to 221 in the next year. What percentage decrease in deaths due to heart disease does this represent?
How do you find the value of a function?
Agriculture At a certain vineyard it is found that each grape vine produces about 10 lb of grapes in a season when about 700 vines are planted per acre. For each additional vine that is planted, the production of each vine decreases by about 1 percent. So, the number of pounds of grapes produced per acre is modeled by An=700+n10-0.01n where n is the number of additional vines planted. Find the number of vines that should be planted to maximize grape production.
Electrical resistance The resistance of a wire varies directly as the length of the wire and inversely as the square of its diameter. A 1000-foot length of wire, 0.05 inch in diameter, has a resistance of 200 ohms. What would be the resistance of a 1500-foot length of wire that is 0.08 inch in diameter.
The average percent defective product of a manufacturing plant is 1.20%. On a particular day 50 pieces were rejected out of a total daily production of 2730 pieces. What is the percent increase of defective pieces for the day above the average percent defective? Round the answer to 2 decimal places.
Clearance A department store is clearing out merchandise in order to make room for new inventory. The plan is to mark down items by 30% each week. This means that each week the cost of an item is 70% of the previous week’s cost. If the original cost of a sofa was $1,000, the cost for the first week would be $1000(0.70) and the cost of the item during the second week would be $1,000(0.70)2. Complete the table shown below. What will be the cost of the sofa during the fifth week? Simplify the expression, to show the cost in dollars.
Solve the following application problem. The distance a body falls varies directly as the square of the time it falls. If an object falls 64 feet in 2 seconds, how long will it take to fall 256 feet?
Grade Point Average In many universities students are given grade points for each credit unit according to the following scale: A 4 points B 3 points C 2 points D 1 point F 0 point For example, a grade of A in a 3-unit course earns 43=12 grade points and a grade of B in a 5-unit course earns 35=15 grade points. A students grade point average GPA for these two courses is the total number of grade points earned divided by the number of units; in this case the GPA is (12+15)8=3.375. a Find a formula for the GPA of a student who earns a grade of A in a units of course work, B in b units, C in c units, D in d units and F in f units. b Find the GPA of a student who has earned a grade of A in two 3-unit courses, B in one 4-unit courses and C in three 3-unit courses.
(d) Can you think of other variables that might explain the variation in monthly rent?
A two-day environmental clean up started at 9AM on the first day. The number of workers fluctuated as shown in the figure. Suppose that the workers were paid 11 dollars per hour for work during the time period 9 am to 5 pm and were paid 16.5 dollars per hour for work during the rest of the day. What would the total personnel costs of the clean up have been under these conditions?total cost = ___________dollars
Find the consumer and producer surpluses by using the demand and supply functions, where p is the price (in dollars) and x is the number of units (in millions). Demand Function Supply Function p = 250 − x p = 100 + x

Recommended textbooks for you

Intermediate Algebra

Algebra

ISBN:

9781285195728

Author:

Jerome E. Kaufmann, Karen L. Schwitters

Publisher:

Cengage Learning

Functions and Change: A Modeling Approach to Coll…

Algebra

ISBN:

9781337111348

Author:

Bruce Crauder, Benny Evans, Alan Noell

Publisher:

Cengage Learning

College Algebra (MindTap Course List)

Algebra

ISBN:

9781305652231

Author:

R. David Gustafson, Jeff Hughes

Publisher:

Cengage Learning

Intermediate Algebra

Algebra

ISBN:

9781285195728

Author:

Jerome E. Kaufmann, Karen L. Schwitters

Publisher:

Cengage Learning

Functions and Change: A Modeling Approach to Coll…

Algebra

ISBN:

9781337111348

Author:

Bruce Crauder, Benny Evans, Alan Noell

Publisher:

Cengage Learning

College Algebra (MindTap Course List)

Algebra

ISBN:

9781305652231

Author:

R. David Gustafson, Jeff Hughes

Publisher:

Cengage Learning

College Algebra

Algebra

ISBN:

9781938168383

Author:

Jay Abramson

Publisher:

OpenStax

Glencoe Algebra 1, Student Edition, 9780079039897…

Algebra

ISBN:

9780079039897

Author:

Carter

Publisher:

McGraw Hill

Intermediate Algebra

Algebra

ISBN:

9780998625720

Author:

Lynn Marecek

Publisher:

OpenStax College

SEE MORE TEXTBOOKS