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The price-demand equation and the cost function for the production of table saws are given, respectively, by x=8,000 - 40p and C(x) = 112,000 + 70x, where x is the number of saws that can be sold at a price of Sp per saw and C(x) is the total cost (in dollars) of producing x saws. Complete parts (A) through (1) below. (A) Express the price p as a function of the demand x, and find the domain of this function. The price function is p= Determine the domain of this function. Select the correct choice below and fill in the answer box(es) within your choice. O A. ISXSO О в. х2 Ос. х»‑ OD. I

The price-demand equation and the cost function for the production of table saws are given, respectively, by x=8,000 - 40p and C(x) = 112,000 + 70x, where x is the number of saws that can be sold at a price of Sp per saw and C(x) is the total cost (in dollars) of producing x saws. Complete parts (A) through (1) below. (A) Express the price p as a function of the demand x, and find the domain of this function. The price function is p= Determine the domain of this function. Select the correct choice below and fill in the answer box(es) within your choice. O A. ISXSO О в. х2 Ос. х»‑ OD. I

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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The price-demand equation and the cost function for the production of table saws are given, respectively, by x=8,000 - 40p and C(x) = 112,000 + 70x, where x is the number of saws that can be sold at a price of Sp per saw and C(x) is the total cost (in dollars) of producing x saws. Complete parts (A) through (1) below. (A) Express the price p as a function of the demand x, and find the domain of this function. The price function is p= Determine the domain of this function. Select the correct choice below and fill in the answer box(es) within your choice. O A. ISXSO О в. х2 Ос. х»‑ OD. I<x<O (B) Find the marginal cost. The marginal cost is (C) Find the revenue function and state its domain. The revenue function is R(x) =|- Determine the domain of this function. Select the correct choice below and fill in the answer box(es) within your choice O A. ISXSI Ов. х2 Ос. х» OD. I<x<O (D) Find the marginal revenue. The marginal revenue is (E) Find R'(1,500) and R'(4,500) and interpret these quantities. Find and interpret R'(1,500). Select the correct choice below and fill in the answer boxes within your choice. (Simplify your answers.) O A. R'(1,500) =: at a production level of. revenue is decreasing at the rate of $ per saw. O B. R'(1,500) =: at a revenue of $ per saw, saw production is decreasing at the rate of per dollar. O C. R'(1,500) =: at a revenue of S per saw, saw production is increasing at the rate of per dollar. O D. R'(1,500) =: at a production level of. revenue is increasing at the rate of S per saw. Find and interpret R'(4,500). Select the correct choice below and fill in the answer boxes within your choice. (Simplify your answers.) O A. R'(4,500) = : at a revenue of $ per saw, saw production is increasing at the rate of per dollar. O B. R'(4,500) =: at a revenue of $ per saw, saw production is decreasing at the rate of per dollar. O C. R'(4,500) =: at a production level of. revenue is decreasing at the rate of $ per saw. O D. R'(4,500) = : at a production level of revenue is increasing at the rate of S per saw.
Transcribed Image Text:The price-demand equation and the cost function for the production of table saws are given, respectively, by x=8,000 - 40p and C(x) = 112,000 + 70x, where x is the number of saws that can be sold at a price of Sp per saw and C(x) is the total cost (in dollars) of producing x saws. Complete parts (A) through (1) below. (A) Express the price p as a function of the demand x, and find the domain of this function. The price function is p= Determine the domain of this function. Select the correct choice below and fill in the answer box(es) within your choice. O A. ISXSO О в. х2 Ос. х»‑ OD. I<x<O (B) Find the marginal cost. The marginal cost is (C) Find the revenue function and state its domain. The revenue function is R(x) =|- Determine the domain of this function. Select the correct choice below and fill in the answer box(es) within your choice O A. ISXSI Ов. х2 Ос. х» OD. I<x<O (D) Find the marginal revenue. The marginal revenue is (E) Find R'(1,500) and R'(4,500) and interpret these quantities. Find and interpret R'(1,500). Select the correct choice below and fill in the answer boxes within your choice. (Simplify your answers.) O A. R'(1,500) =: at a production level of. revenue is decreasing at the rate of $ per saw. O B. R'(1,500) =: at a revenue of $ per saw, saw production is decreasing at the rate of per dollar. O C. R'(1,500) =: at a revenue of S per saw, saw production is increasing at the rate of per dollar. O D. R'(1,500) =: at a production level of. revenue is increasing at the rate of S per saw. Find and interpret R'(4,500). Select the correct choice below and fill in the answer boxes within your choice. (Simplify your answers.) O A. R'(4,500) = : at a revenue of $ per saw, saw production is increasing at the rate of per dollar. O B. R'(4,500) =: at a revenue of $ per saw, saw production is decreasing at the rate of per dollar. O C. R'(4,500) =: at a production level of. revenue is decreasing at the rate of $ per saw. O D. R'(4,500) = : at a production level of revenue is increasing at the rate of S per saw.
(F) Graph the cost function and the revenue function on the same coordinate system for 0SxS8,000. Find the break-even points, and indicate regions of loss and profit. Use light shading for regions of profit and dark shading for regions of loss. Choose the correct graph below. A. OB. OC. D. 0.5M- 0.5M- 0.5M 0.5M- a000 Break-even points: (3890.03.399697.68) and (6909.97, 188302.32) B000 Break-even points: (1090.03,188302.32) and (4109.97.399697.68) a000 8000 Break-even points: (1090.03,188302.32) and (4109.97.399697.68) Break-even points: (3890.03.399697.68) and (6909.97, 188302.32) (G) Find the profit function in terms of x. P(x) =| (H) Find the marginal profit. The marginal profit is- (1) Find P'(1,500) and P'(3,000) and interpret these quantities. Find and interpret P'(1,500). Select the correct choice below and fill in the answer boxes within your choice. (Simplify your answers.) O A. P'(1,500) = at a profit level of $ saw production is increasing at the rate of saws per dollar. O B. P'(1,500) =: at a production level of saws, profit is decreasing at the rate of S O C. P'(1,500) = : at a profit level of S saw production is decreasing at the rate of saws per dollar. per saw. O D. P'(1,500) = at a production level of saws, profit is increasing at the rate of $ per saw. Find and interpret P'(3,000). Select the correct choice below and fill in the answer boxes within your choice. (Simplify your answers.) O A. P'(3.000) = O B. P'(3,000) =: at a production level of saws, profit is decreasing at the rate of $ at a profit level of $ saw production is increasing at the rate of saws per dollar. per saw. O C. P'(3,000) =: at a production level of per saw. O saws, profit is increasing at the rate of S O D. P'(3,000) = : at a profit level of S saw production is decreasing at the rate of saws per dollar. Click to select your answer(s).
Transcribed Image Text:(F) Graph the cost function and the revenue function on the same coordinate system for 0SxS8,000. Find the break-even points, and indicate regions of loss and profit. Use light shading for regions of profit and dark shading for regions of loss. Choose the correct graph below. A. OB. OC. D. 0.5M- 0.5M- 0.5M 0.5M- a000 Break-even points: (3890.03.399697.68) and (6909.97, 188302.32) B000 Break-even points: (1090.03,188302.32) and (4109.97.399697.68) a000 8000 Break-even points: (1090.03,188302.32) and (4109.97.399697.68) Break-even points: (3890.03.399697.68) and (6909.97, 188302.32) (G) Find the profit function in terms of x. P(x) =| (H) Find the marginal profit. The marginal profit is- (1) Find P'(1,500) and P'(3,000) and interpret these quantities. Find and interpret P'(1,500). Select the correct choice below and fill in the answer boxes within your choice. (Simplify your answers.) O A. P'(1,500) = at a profit level of $ saw production is increasing at the rate of saws per dollar. O B. P'(1,500) =: at a production level of saws, profit is decreasing at the rate of S O C. P'(1,500) = : at a profit level of S saw production is decreasing at the rate of saws per dollar. per saw. O D. P'(1,500) = at a production level of saws, profit is increasing at the rate of $ per saw. Find and interpret P'(3,000). Select the correct choice below and fill in the answer boxes within your choice. (Simplify your answers.) O A. P'(3.000) = O B. P'(3,000) =: at a production level of saws, profit is decreasing at the rate of $ at a profit level of $ saw production is increasing at the rate of saws per dollar. per saw. O C. P'(3,000) =: at a production level of per saw. O saws, profit is increasing at the rate of S O D. P'(3,000) = : at a profit level of S saw production is decreasing at the rate of saws per dollar. Click to select your answer(s).
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