QUESTION 8If the supply functionP=22-30The fixed cost was 20 and the variable cost per unit was 5.Find each of the following:1. Total revenue function.2. Total costs function.3. Total profit function.

Given data Given supply function P = 22 - 3Q Fixed cost = 20 Variable cost = 5

Answered: If the supply function P=22-30 The…

Calculus: Early Transcendentals

8th Edition

ISBN:9781285741550

Author:James Stewart

Publisher:James Stewart

Chapter1: Functions And Models

Section: Chapter Questions

Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...

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A firm produces headphones in two qualities, Basic (B) and Premium (P). For the coming year, the estimated quantity produced of B is 60% higher than that of P. The firm makes a markup of 170% on both products. The ratio between the profits per unit between P and B is 2. The cost price for P is $260. If the profit target is $115 362 over the next year, how much of each of the two qualities must be produced and what are the two selling prices? (Round the quantities to the nearest unit and the prices to 2 digits after the decimal point if needed) Quantity of B = Answer units Quantity of P = Answer units Selling price of B = Answer $ Selling price of P = Answer $
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The total cost C for a manufacturer during a given time period is a function of the number N of items produced during that period. To determine a formula for the total cost, we need to know the manufacturer's fixed costs (covering things such as plant maintenance and insurance), as well as the cost for each unit produced, which is called the variable cost. To find the total cost, we multiply the variable cost by the number of items produced during that period and then add the fixed costs.Suppose that a manufacturer of widgets has fixed costs of $9000 per month and that the variable cost is $14 per widget (so it costs $14 to produce 1 widget). (a) Use a formula to express the total cost C of this manufacturer in a month as a function of the number of widgets produced in a month. (Use N as the number of widgets produced in a month.)C = (b) Express using functional notation the total cost if there are 225 widgets produced in a month.C( )Calculate the total cost if there are 225…
The demand equation for a manufacturer's product is: D = 210 - 0.3q where q is the number of units and p is the price per unit. For what value of q will there be a maximum income? How much is the maritime income?
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6. Jocelyn's Cookie Company makes and sells cookies. Each cookie costs $1.58 to make, and the fixed costs are $426. She sells each cookie for $3.08. Round to two decimal places for all parts of this problem. a. Find the cost function, C(x). b. Find the revenue function, R(x). с. Find the profit function, P(x). d. Find the number of cookies that she must sell to break even.
2. A company has determined that the demand function for a certain couch is given by p = 4000 - 0.25x, where p is the price per couch and x is the number of couches sold. The fixed costs associated with producing a line of couches is $500,000, and each couch costs $280 to make. a. Start by finding functions to represent the revenue b. and the total cost c. then find a function for profit d. Determine how many couches should be manufactured and sold in order to maximize profit. Show Work and Write a Sentence!

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If the supply function P=22-30 The fixed cost was 20 and the variable cost per unit was 5. Find each of the following: 1. Total revenue function. 2. Total costs function. 3 Total profit function.