The cost, in millions of dollars, of building a three-story high school in New York State was estimated to be: 2 C x x x x 1.7 0.14 0.0001 20 400 where x is the number of thousands of square feet. Suppose that you are contemplating building a for-profit three-story high school and estimate that your total revenue will be $0.2 million dollars per thousand square feet. (a) What is minimum area for a three-story high school in New York State, that this model covers? (b) What is the variable cost of building a three-story high school in New York State? (c) What is the fixed cost of building a three-story high school in New York State? (d) Determine the profit function, P x( ), for building a three-story high school in New York State? . (e) Determine, P(250) , for building a three-story high school in New York State, and interpret the result.
The cost, in millions of dollars, of building a three-story high school in New
York State was estimated to be:
2
C x x x x 1.7 0.14 0.0001 20 400
where x is the number of thousands of square feet. Suppose that you are
contemplating building a for-profit three-story high school and estimate that
your total revenue will be $0.2 million dollars per thousand square feet.
(a) What is minimum area for a three-story high school in New York
State, that this model covers?
(b) What is the variable cost of building a three-story high school in New
York State?
(c) What is the fixed cost of building a three-story high school in New
York State?
(d) Determine the profit function,
P x( ), for building a three-story high
school in New York State? .
(e) Determine,
P(250) , for building a three-story high school in New York
State, and interpret the result.
(f) How many thousands of square feet should a three-story high school
building in New York State be in order to break even?
Trending now
This is a popular solution!
Step by step
Solved in 6 steps
