The value = = 30.775 should be used in the cost model to estimate the cost of producing how manywidgets?widgets. Round to the nearest widget. Jesaki Inc. is trying to enter the widget market. The research department established the followingprice-demand, cost, and revenue functions:p(x) = 60 - 1.20xC(x) = 210 + 12xR(x) = xp(x) = x(60 - 1.20x) Revenue functionPrice-demand functionCost functionwhere x is in thousands of widgets and C(x) and R(x) are in thousands of dollars. The price p(x)is the price in dollars of one widget when the demand is a thousand widgets. All three functionshave domain 1 ≤ x ≤ 50.Use this information to answer questions 1-10 below.

Total revenue is the product of price and quantity. Total cost is the cost of producing total units…

Answered: The value = = 30.775 should be used in…

The value = = 30.775 should be used in the cost model to estimate the cost of producing how many widgets? widgets. Round to the nearest widget.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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