Let the demand function for a product be given by the function D (q) = -1.45 q +290, where q is the quantity of items in demand and D (q) is the price per item, n dollars, that can be charged when q units are sold. Suppose fixed costs of production for this item are $ 5,000 and variable costs are $ 6 per item produced. If 138 items are produced and sold, find the following: A) The total revenue from elling 138 items (to the nearest penny). Answer: S B) The total costs to produce 138 items (to the nearest penny). Answer: $C) The total profits to produce 138 tems (to the nearest penny. Profits may or may not be negative.). Answer: S

Let the demand function for a product be given by the function D (q) = -1.45 q +290, where q is the quantity of items in demand and D (q) is the price per item, n dollars, that can be charged when q units are sold. Suppose fixed costs of production for this item are $ 5,000 and variable costs are $ 6 per item produced. If 138 items are produced and sold, find the following: A) The total revenue from elling 138 items (to the nearest penny). Answer: S B) The total costs to produce 138 items (to the nearest penny). Answer: $C) The total profits to produce 138 tems (to the nearest penny. Profits may or may not be negative.). Answer: S

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Let the demand function for a product be given by the function D (q) 1.45 q
+ 290, where q is the quantity of items in demand and D (q) is the price per item,
in dollars, that can be charged when q units are sold. Suppose fixed costs of
production for this item are $ 5,000 and variable costs are $ 6 per item produced. If
138 items are produced and sold, find the following: A) The total revenue from
selling 138 items (to the nearest penny). Answer: $ B) The total costs to produce
138 items (to the nearest penny). Answer: $ C) The total profits to produce 138
items (to the nearest penny. Profits may or may not be negative.). Answer: $
=

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