Let x will represent the number of items manufactured and sold in a month. Given the following information find the cost, revenue, and profit functions. Use those function to answer the following questions.
Let x will represent the number of items manufactured and sold in a month. Given the following information find the cost, revenue, and profit functions. Use those function to answer the following questions.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Transcribed Image Text:Let x will represent the number of items manufactured
and sold in a month. Given the following information
find the cost, revenue, and profit functions. Use those
function to answer the following questions.
The fixed costs for a certain item are $7,600 per month
and the marginal cost to produce each item is $3. The
retailer intends to sell each item for $7/item.
Cost function: C(x) =
Preview
3x+7600
Revenue function: R(x) :
7x
Preview
Profit function: P(x) =
Preview
4x-7600
If 2,561 items are manufactured and sold during the
month, what is the profit to the retailer? $ 2644
How many items must be sold in order to have a profit of
$4,084? ( 2961
Find the break-even point. 0.6417
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