Enter your answers in the text boxes.The profit function of a certain firm isf(x) = -2x² + 396x - 400,where x denotes units of product produced, and f(x) is in Rands.PART A:a) If the firm produces 10 units of the product, its profit will beRb) If the firm produces 210 units of the product, its profit will bec) The production level that will maximize the firm's profit isd) The maximum profit the firm can make is R

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Answered: The profit function of a certain firm…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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The daily cost to a company to produce each item is $30,000 with total fixed costs of $120,000. The company can sell the item for $90,000 each. a) Write a cost function C (x) and a revenue function R(x) for this company. b) How many items does the company need to sell to break even? c) Write the profit function P(x) for this company. Solve P(x) = 0 and interpret the answer.
A company that produces cellular phones analyzes its production and finds that the profit P (in dollars) on the sale of the phones is approximated by the function: P(x)=-0.2x2+460x-25,000 where x is the number of phones produced each month. How many phones per month should be made so as to maximize profit? And what is the maximum profit?
It costs Joanna $17,000 to open her new shoe store and then $23 for each pair of shoes she stocks. Joanna decides to charge her customers $45 per pair of shoes. a) What is her Cost Function? b) What is her Revenue Function? c) What is her Profit Function? d) What is her Break-Even Point? (a) Joanna's Cost Function is C(x) = (Do not include the $ symbol in your answer.) (b) Joanna's Revenue Function is R(x) = . (Do not include the $ symbol in your answer.) (c) Joanna's Profit Function is P(x) = (Simplify your answer. Do not include the $ symbol in your answer.) (d) Joanna's Break-Even Point is pairs of shoes. (Type a whole number.)
4) The cost of making x items is C(x)=15+2x. The cost p per item and the number made x are related by the equation p+x=25. Profit is then represented by px-C(x) [revenue minus cost]. a) Find profit as a function of x b) Find x that makes profit as large as possible c) Find p that makes profit maximum.
The cost of producing x textbooks is given by C(x)= 1200+40x. If textbooks are sold for $60 dollars determine the following: a) the fixed costs b) the revenue function c) the number of textbooks that need to be sold to break even.

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