The company AffordableStuff sells cell phones. The marginal cost for each cell phone is given by the equation C(x) = 0.01x² – 3x + 229. a is the number of cell phones manufactured and sold. The marginal revenue function is R(x) = 429 – 2.x. Both C(x) and R(x) are given in dollars. a) Where do these curves intersect? What do those intersection points mean? b) Find the area between the curves, using end points that make sense. Round to the nearest cent. c) What does the area under the curve mean in this case?
The company AffordableStuff sells cell phones. The marginal cost for each cell phone is given by the equation C(x) = 0.01x² – 3x + 229. a is the number of cell phones manufactured and sold. The marginal revenue function is R(x) = 429 – 2.x. Both C(x) and R(x) are given in dollars. a) Where do these curves intersect? What do those intersection points mean? b) Find the area between the curves, using end points that make sense. Round to the nearest cent. c) What does the area under the curve mean in this case?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:The company AffordableStuff sells cell phones. The marginal cost for each cell phone is given
by the equation C(x) = 0.01x² – 3x + 229. a is the number of cell phones manufactured and
sold. The marginal revenue function is R(x) = 429 – 2.x. Both C(x) and R(x) are given in
dollars.
a) Where do these curves intersect? What do those intersection points mean?
b) Find the area between the curves, using end points that make sense. Round to the
nearest cent.
c) What does the area under the curve mean in this case?
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