Until​ recently, hamburgers at the city sports arena cost $2.50 each. The food concessionaire sold an average of 1,375 hamburgers on game night. When the price was raised to $3.00​, hamburger sales dropped off to an average of 1,250 per night. The​ concessionaire's fixed costs were $1,133.60 per night and the variable cost was ​$2.60 per hamburger. Answer the following questions​ (A) through​ (F). ​(A) Assume that the relationship between price p and demand x is linear. Express p as a function of x and find the domain of this function.   p=nothing The domain of p is nothing. ​(Type a compound​ inequality.) ​(B) Find the revenue function in terms of x and state its domain.   ​R(x)=nothing The domain of​ R(x) is nothing. ​(Type a compound​ inequality.) ​(C) Assume that the cost function is linear. Express the cost function in terms of x.   ​C(x)=nothing

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Until​ recently, hamburgers at the city sports arena cost $2.50 each. The food concessionaire sold an average of 1,375 hamburgers on game night. When the price was raised to $3.00​, hamburger sales dropped off to an average of 1,250 per night. The​ concessionaire's fixed costs were $1,133.60 per night and the variable cost was ​$2.60 per hamburger. Answer the following questions​ (A) through​ (F).

​(A) Assume that the relationship between price p and demand x is linear. Express p as a function of x and find the domain of this function.
 
p=nothing
The domain of p is
nothing.
​(Type a compound​ inequality.)
​(B) Find the revenue function in terms of x and state its domain.
 
​R(x)=nothing
The domain of​ R(x) is
nothing.
​(Type a compound​ inequality.)
​(C) Assume that the cost function is linear. Express the cost function in terms of x.
 
​C(x)=nothing
​(D) Graph the cost function and the revenue function in the same coordinate system. Choose the correct graph below.
 
Find the​ break-even points.
 
The​ break-even points are
nothing.
​(Simplify your answer. Type an ordered pair. Use a comma to separate answers as​ needed.)
​(E) Find the profit function in terms of x.
 
​P(x)=nothing
​(F) Evaluate the marginal profit at
x=1040
and interpret the results.
 
The marginal profit at
x=1040
is
​$nothing.
Interpret the marginal profit.
 
 
A.
At a production level of
1040
​hamburgers, the profit is
decreasing
at a rate of
​$nothing
per hamburger.
 
B.
At a production level of
1040
​hamburgers, the profit is
increasing
at a rate of
​$nothing
per hamburger.
 
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