Widget SalesJesaki Inc. is trying to enter the widget market. The research departmentestablished the following price-demand, cost, and revenue functions:p(x) = 60 1.20xPrice-demandfunctionCostfunctionC(x) = 210 + 12xR(x) = xp(x) = x(60 - 1.20x)where x is in thousands of widgets and C(x) and R(x) are in thousandsof dollars. The price p(x) is the price in dollars of one widget when thedemand is a thousand widgets. All three functions have domain1 ≤ x ≤ 50.Revenuefunction Use the Sales information above to answer this question.The value x*= 19.801 should be used in the cost model to estimate thecost of producing how many widgets?widgets. Round to the nearest widget.

Answered: Image /qna-images/answer/e620aab6-3dc2-4baf-88b8-a1ec6cdf1b13.jpg

Use the Sales information above to answer this question. The value x = 19.801 should be used in the cost model to estimate the cost of producing how many widgets? widgets. Round to the nearest widget.

Use the Sales information above to answer this question. The value x = 19.801 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

See similar textbooks

Similar questions

To produce the next popular toy, a company has to pay a factory $250, 000 to set up the production line. They also have to pay $25 per item for the raw materials and labor. Write function for the average cost to produce x items. Then describe what happens to the average cost as the factory produces a large number of toys.
Question 22
Use the line drawing tool to plot the functional relation. listed below on a scale diagram (with X on the horizontal axis and Y on the vertical axis) and compute the slope of the line. Make sure you start at the Y-intercept and label the line 'Line A'. Y = 20 + 3X Carefully follow the instructions above, and only draw the required object.
Suppose a company has fixed costs of $1500 and variable costs of (3/4)x + 1120 dollars per unit, where x is the total number of units produced. Suppose further that the selling price of its product is 1200 − (1/4)x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.)x = (b) Find the maximum revenue. (Round your answer to the nearest cent)$ (c) Form the profit function, P(x), from the cost and revenue functions.P(x) = Find maximum profit. (Round your answer to the nearest cent.)$ (d) What price will maximize the profit? (Round your answer to the nearest cent.)
A small business sells T-shirts during the Lasallian Week Festival. It is estimated that the variable cost to produce one T-shirt is 175 pesos. Also, the total cost to produce 60 T-Shirts is 15000 pesos. T-shirts are sold at a price of 456.25 pesos each. a. Find the total cost model. C(x)= b. How many T-shirts must be sold to break even? T-shirts c. How many T-shirts must be sold to make profit of 9000 pesos? 32 T-shirt (note: do not use space and comma for your answer)
Kk.299.
Calculate total cost when profit is $310 and the total revenue is $650
The total cost and the total revenue (in dollars) for the production and sale of x ski jackets are given by C(x)=26x +18,625 and R(x)-200x-0.2x² for 0≤x≤ 1000. (A) Find the value of x where the graph of R(x) has a horizontal tangent line (B) Find the profit function P(x). (C) Find the value of x where the graph of P(x) has a horizontal tangent line. (D) Graph C(x), R(x), and P(x) on the same coordinate system for 0sxs 1000. Find the break-even points. Find the x-intercepts of the graph of P(x) (A) R(x) has a horizontal tangent line at x =
A manufacturer!s total cost is C(x) = 0.1x3 - 0.25x2 + 300x + 100 dollars, where x is the level of production. Estimate the effect on the total cost of an increase in the level of production from 6 to 6.1 units
Assume that it costs a company approximately C(x) = 400,000 + 180x + 0.001x² dollars to manufacture x smartphones in an hour. (a) Find the marginal cost function. Use it to estimate how fast the cost is increasing when x = 10,000. $ per smartphone Compare this with the exact cost of producing the 10,001st smartphone. The cost is increasing at a rate of $ per smartphone. The exact cost of producing the 10,001st smartphone is $ Thus, there is a difference of $ (b) Find the average cost function C and the average cost to produce the first 10,000 smartphones. C(x) C(10,000) $ (c) Using your answers to parts (a) and (b), determine whether the average cost is rising or falling at a production level of 10,000 smartphones. The marginal cost from (a) is ---Select--- O than the average cost from (b). This means that the average cost is ---Select--- O at a production level of 10,000 smartphones.