The cost function for a production line to produce an electric device is: Cost=$14,000 + $400X; where X is the number of the electric devices produced. Each electric device sold can bring in a unit revenue of $1,100. Answer the following 3 questions: (Question 1) What is the fixed cost and the marginal cost for the production of this electronic device? (Question 2) Report the profit when the electronic device production X is 30. (Question 3) Use a breakeven analysis and report the breakeven point for the production quantity of X.
The cost function for a production line to produce an electric device is: Cost=$14,000 + $400X; where X is the number of the electric devices produced. Each electric device sold can bring in a unit revenue of $1,100. Answer the following 3 questions: (Question 1) What is the fixed cost and the marginal cost for the production of this electronic device? (Question 2) Report the profit when the electronic device production X is 30. (Question 3) Use a breakeven analysis and report the breakeven point for the production quantity of X.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Question
The cost function for a production line to produce an electric device is:
Cost=$14,000 + $400X; where X is the number of the electric devices produced.
Each electric device sold can bring in a unit revenue of $1,100.
Answer the following 3 questions:
(Question 1) What is the fixed cost and the marginal cost for the production of this electronic device?
(Question 2) Report the profit when the electronic device production X is 30.
(Question 3) Use a breakeven analysis and report the breakeven point for the production quantity of X.
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