q 12 I also attached our formula sheet thank you! You sell and produce doodads.Your profit when you sell x thousand doodads isP (x) = -0.4x² + 5x – 7 thousand dollars.What is the largest quantity at which you break even?ANSWER: x =thousand doodadsDo not include units in the answer box. Just a number. If roundingis necessary, round to three digits after the decimal. Suppose you produce and sell Things. The following table summarizes the terms we've learnedso far relating to revenue and cost. Assume you are given a graph of total cost TC(q) and totalrevenue TR(q) for producing and selling q Things.Related equationsGraphicalInterpretationTermDefinitionand formulasthe total amount youtotal costspend to produce qThingsTC(q) = VC(q) + FCTC(q)the money you spend toproduce q Thingswithout including fixedvariable costVC(q) = TC(q) – FCthe graph of VC has the sameshape as TC and goes throughthe originVC(q)coststhe money you mustspend even if youproduce 0 Things; alsoknown as overheadFC = TC(q) - VC(q)FC = TC(0)fixed costthe vertical distance between theFCTC and VC graphs OR the"y"-intercept of the TC graphaverage costAC(q)total cost averaged overthe number of Thingsproducedthe slope of the diagonalline through the TCgraph at qTC(q)AC (q)qvariable cost averagedaveragevariable costthe slope of the diagonalline through the VCgraph at qover the number ofAVC(q)VC(q)AVC(q)Things producedthe slope of the leaststeep diagonal line thatintersects the TC graphthe smallest value ofbreakeven priceВЕРaverage costthe slope of the leaststeep diagonal line thatintersects the VC graphshutdown pricethe smallest value ofSDPaverage variable costmarginal costMC(q)(see footnote)the incremental rate ofthe slope of the secantline through TC (orVC) at q and q +1MC(q) =TC(q+1)-TC(q)change in TC from q toq+1 Thingsthe total amount youtotal revenuereceive when you sell qThingsTR(q)total revenue averagedthe slope of the diagonalline through the TRgraph at qaverage revenueover the number ofTR(q)AR(q)AR(q)Things sold; also knownas price per Thingmarginalrevenue MR(q)(see footnote)the incremental rate ofthe slope of the secantline through the TRgraph at q and q+1MR(q)TR(g+1)–TR(g)change in TR from q toq +1 Thingsthe money you are leftwith after subtractingthe vertical distanceprofitP(q)P(q) = TR(q) – TC(q)between TR and TCtotal cost from total(when TR> TC)revenueNOTE: If q is measured in hundreds or thousands of Things, the definitions, formulas, and graphical inter-pretations of marginal revenue and marginal cost must be adjusted appropriately.

Answered: Image /qna-images/answer/5e486dd5-e518-41b1-b6ce-ee6b2d1ecff5.jpg

You sell and produce doodads. Your profit when you sell x thousand doodads is P (x) = -0.4x² + 5x – 7 thousand dollars. What is the largest quantity at which you break even? ANSWER: x = thousand doodads Do not include units in the answer box. Just a number. If rounding is necessary, round to three digits after the decimal.

You sell and produce doodads. Your profit when you sell x thousand doodads is P (x) = -0.4x² + 5x – 7 thousand dollars. What is the largest quantity at which you break even? ANSWER: x = thousand doodads Do not include units in the answer box. Just a number. If rounding is necessary, round to three digits after the decimal.

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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Question

q 12 I also attached our formula sheet thank you!

You sell and produce doodads.
Your profit when you sell x thousand doodads is
P (x) = -0.4x² + 5x – 7 thousand dollars.
What is the largest quantity at which you break even?
ANSWER: x =
thousand doodads
Do not include units in the answer box. Just a number. If rounding
is necessary, round to three digits after the decimal.

Suppose you produce and sell Things. The following table summarizes the terms we've learned
so far relating to revenue and cost. Assume you are given a graph of total cost TC(q) and total
revenue TR(q) for producing and selling q Things.
Related equations
Graphical
Interpretation
Term
Definition
and formulas
the total amount you
total cost
spend to produce q
Things
TC(q) = VC(q) + FC
TC(q)
the money you spend to
produce q Things
without including fixed
variable cost
VC(q) = TC(q) – FC
the graph of VC has the same
shape as TC and goes through
the origin
VC(q)
costs
the money you must
spend even if you
produce 0 Things; also
known as overhead
FC = TC(q) - VC(q)
FC = TC(0)
fixed cost
the vertical distance between the
FC
TC and VC graphs OR the
"y"-intercept of the TC graph
average cost
AC(q)
total cost averaged over
the number of Things
produced
the slope of the diagonal
line through the TC
graph at q
TC(q)
AC (q)
q
variable cost averaged
average
variable cost
the slope of the diagonal
line through the VC
graph at q
over the number of
AVC(q)
VC(q)
AVC(q)
Things produced
the slope of the least
steep diagonal line that
intersects the TC graph
the smallest value of
breakeven price
ВЕР
average cost
the slope of the least
steep diagonal line that
intersects the VC graph
shutdown price
the smallest value of
SDP
average variable cost
marginal cost
MC(q)
(see footnote)
the incremental rate of
the slope of the secant
line through TC (or
VC) at q and q +1
MC(q) =
TC(q+1)-TC(q)
change in TC from q to
q+1 Things
the total amount you
total revenue
receive when you sell q
Things
TR(q)
total revenue averaged
the slope of the diagonal
line through the TR
graph at q
average revenue
over the number of
TR(q)
AR(q)
AR(q)
Things sold; also known
as price per Thing
marginal
revenue MR(q)
(see footnote)
the incremental rate of
the slope of the secant
line through the TR
graph at q and q+1
MR(q)
TR(g+1)–TR(g)
change in TR from q to
q +1 Things
the money you are left
with after subtracting
the vertical distance
profit
P(q)
P(q) = TR(q) – TC(q)
between TR and TC
total cost from total
(when TR> TC)
revenue
NOTE: If q is measured in hundreds or thousands of Things, the definitions, formulas, and graphical inter-
pretations of marginal revenue and marginal cost must be adjusted appropriately.

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