Suppose a company has fixed costs of $28,600 and average variable costs given by AVC(x)==x + 222 dollars per unit, where x is the total number of units produced. Suppose further that the selling price of its product is p=1348 – x - dollars per unit. (a), Eind.the.break-even points. (Enter your answers as a comma-separated list.) (b) Find the maximum total revenue. (Round your answer to the nearest cent.) $ (c) Form the profit function, P(x), from the total cost and total revenue functions. P(x) = Find maximum profit. (Round your answer to the nearest cent.) $ (d) What price per unit will maximize the profit? (Round your answer to the nearest cent.) $

Suppose a company has fixed costs of $28,600 and average variable costs given by AVC(x)==x + 222 dollars per unit, where x is the total number of units produced. Suppose further that the selling price of its product is p=1348 – x - dollars per unit. (a), Eind.the.break-even points. (Enter your answers as a comma-separated list.) (b) Find the maximum total revenue. (Round your answer to the nearest cent.) $ (c) Form the profit function, P(x), from the total cost and total revenue functions. P(x) = Find maximum profit. (Round your answer to the nearest cent.) $ (d) What price per unit will maximize the profit? (Round your answer to the nearest cent.) $

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 8SQP

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