Explanation Given: The fixed cost for a product is $650. The break-even quantity is 25. Calculation: The linear cost function is of the form C ( x ) = m x + b , where m is the marginal cost and b is the fixed cost. Since the fixed cost is $650, the cost function is C ( x ) = m x + 650 . The revenue function is R ( x ) = p x , where p is the price per unit. The profit is the difference between the cost and revenue function. That is, P ( x ) = R ( x ) − C ( x ) . Substitute the revenue and cost function in the above equation, P ( x ) = p x − ( m x + 650 ) = p x − m x − 650 = ( p − m ) x − 650 = M x − 650 &

Finite Mathematics and Calculus with Applications (10th Edition)

10th Edition

ISBN: 9780321979407

Author: Margaret L. Lial, Raymond N. Greenwell, Nathan P. Ritchey

Publisher: PEARSON

See similar textbooks

Question

Chapter 1.2, Problem 44E

To determine

To find: The marginal profit.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 1.2, Problem 43E

Chapter 1.2, Problem 45E

Students have asked these similar questions

The graph of f(x) is given below. Select all of the true statements about the continuity of f(x) at x = −3. -7-6- -5- +1 23456 1 2 3 4 5 67 Select the correct answer below: ○ f(x) is not continuous at x = f(x) is not continuous at x = f(x) is not continuous at x = f(x) is continuous at x = -3 -3 because f(-3) is not defined. -3 because lim f(x) does not exist. 2-3 -3 because lim f(x) = f(−3). 2-3

Could you explain how this was solved, I don’t understand the explanation before the use of the shift property As well as the simplification afterwards

Question The function f(x) is shown in the graph below. Which of the following statements are true? Select all that apply. f(x) 12 10 -16 -14 -12 -10 -8 + -4 " 10 12 14 16 a Select all that apply: ☐ Condition 1 is satisfied. ☐ Condition 2 is satisfied. ☐ Condition 3 is satisfied. ☐ f(x) is continuous.

Chapter 1 Solutions

Finite Mathematics and Calculus with Applications (10th Edition)

Ch. 1.1 - Find the slope of the line through (1, 5) and (4,...Ch. 1.1 - Find the equation of the line with x-intercept 4...Ch. 1.1 - Prob. 3YT Ch. 1.1 - Find the equation of the line through (2, 9) and...Ch. 1.1 - Prob. 5YT Ch. 1.1 - Prob. 6YT Ch. 1.1 - Prob. 1WE Ch. 1.1 - Prob. 2WE Ch. 1.1 - Prob. 3WE Ch. 1.1 - Prob. 4WE

Ch. 1.1 - Prob. 1E Ch. 1.1 - Prob. 2E Ch. 1.1 - Prob. 3E Ch. 1.1 - Prob. 4E Ch. 1.1 - Prob. 5E Ch. 1.1 - Prob. 6E Ch. 1.1 - Prob. 7E Ch. 1.1 - Prob. 8E Ch. 1.1 - Prob. 9E Ch. 1.1 - Prob. 10E Ch. 1.1 - Prob. 11E Ch. 1.1 - Prob. 12E Ch. 1.1 - Prob. 13E Ch. 1.1 - Prob. 14E Ch. 1.1 - In Exercises 1524, find an equation in...Ch. 1.1 - Prob. 16E Ch. 1.1 - In Exercises 1524, find an equation in...Ch. 1.1 - Prob. 18E Ch. 1.1 - In Exercises 1524, find an equation in...Ch. 1.1 - Prob. 20E Ch. 1.1 - In Exercises 1524, find an equation in...Ch. 1.1 - Prob. 22E Ch. 1.1 - In Exercises 1524, find an equation in...Ch. 1.1 - Prob. 24E Ch. 1.1 - Prob. 25E Ch. 1.1 - Prob. 26E Ch. 1.1 - Prob. 27E Ch. 1.1 - In Exercises 2534, find an equation for each line...Ch. 1.1 - Prob. 29E Ch. 1.1 - Prob. 30E Ch. 1.1 - Prob. 31E Ch. 1.1 - Prob. 32E Ch. 1.1 - Prob. 33E Ch. 1.1 - Prob. 34E Ch. 1.1 - Prob. 35E Ch. 1.1 - Prob. 36E Ch. 1.1 - Prob. 37E Ch. 1.1 - Prob. 38E Ch. 1.1 - Prob. 39E Ch. 1.1 - Prob. 40E Ch. 1.1 - Prob. 41E Ch. 1.1 - Prob. 42E Ch. 1.1 - Prob. 43E Ch. 1.1 - Prob. 44E Ch. 1.1 - Prob. 45E Ch. 1.1 - Prob. 46E Ch. 1.1 - Prob. 47E Ch. 1.1 - Graph each equation. 48. y = 6x + 12 Ch. 1.1 - Prob. 49E Ch. 1.1 - Prob. 50E Ch. 1.1 - Prob. 51E Ch. 1.1 - Prob. 52E Ch. 1.1 - Prob. 53E Ch. 1.1 - Prob. 54E Ch. 1.1 - Prob. 55E Ch. 1.1 - Prob. 56E Ch. 1.1 - Prob. 57E Ch. 1.1 - Graph each equation. 58. y = 5x Ch. 1.1 - Graph each equation. 59. x + 4y = 0 Ch. 1.1 - Prob. 60E Ch. 1.1 - Prob. 61E Ch. 1.1 - Prob. 62E Ch. 1.1 - Prob. 63E Ch. 1.1 - Prob. 64E Ch. 1.1 - Prob. 65E Ch. 1.1 - Life Sciences 66. HIV Infection The time interval...Ch. 1.1 - Prob. 67E Ch. 1.1 - Prob. 68E Ch. 1.1 - Prob. 69E Ch. 1.1 - Prob. 70E Ch. 1.1 - Prob. 71E Ch. 1.1 - Prob. 72E Ch. 1.1 - Prob. 73E Ch. 1.1 - Prob. 74E Ch. 1.1 - Prob. 75E Ch. 1.2 - Calculate g(5). Let g(x) = 4x + 5.Ch. 1.2 - Prob. 2YT Ch. 1.2 - Prob. 3YT Ch. 1.2 - Prob. 4YT Ch. 1.2 - Prob. 5YT Ch. 1.2 - Prob. 6YT Ch. 1.2 - Prob. 1WE Ch. 1.2 - Prob. 2WE Ch. 1.2 - Prob. 1E Ch. 1.2 - Prob. 2E Ch. 1.2 - Prob. 3E Ch. 1.2 - Prob. 4E Ch. 1.2 - Prob. 5E Ch. 1.2 - Prob. 6E Ch. 1.2 - Prob. 7E Ch. 1.2 - Prob. 8E Ch. 1.2 - Prob. 9E Ch. 1.2 - Prob. 10E Ch. 1.2 - Prob. 11E Ch. 1.2 - In Exercises 1114, decide whether the statement is...Ch. 1.2 - Prob. 13E Ch. 1.2 - Prob. 14E Ch. 1.2 - Prob. 15E Ch. 1.2 - Prob. 16E Ch. 1.2 - Prob. 17E Ch. 1.2 - Prob. 18E Ch. 1.2 - Write a linear cost function for each situation....Ch. 1.2 - Prob. 20E Ch. 1.2 - Write a linear cost function for each situation....Ch. 1.2 - Prob. 22E Ch. 1.2 - Assume that each situation can be expressed as a...Ch. 1.2 - Prob. 24E Ch. 1.2 - Assume that each situation can be expressed as a...Ch. 1.2 - Prob. 26E Ch. 1.2 - Business and Economics 27. Supply and Demand...Ch. 1.2 - Supply and Demand Suppose that the demand and...Ch. 1.2 - Supply and Demand Let the supply and demand...Ch. 1.2 - Supply and Demand Let the supply and demand...Ch. 1.2 - Supply and Demand Suppose that the supply function...Ch. 1.2 - Prob. 32E Ch. 1.2 - Break-Even Analysis Producing x units of tacos...Ch. 1.2 - Prob. 34E Ch. 1.2 - T-Shirt Cost Joanne Wendelken sells silk-screened...Ch. 1.2 - Prob. 36E Ch. 1.2 - Marginal Cost of Coffee The manager of a...Ch. 1.2 - Marginal Cost of a New Plant In deciding whether...Ch. 1.2 - Break-Even Analysis You are the manager of a firm....Ch. 1.2 - Prob. 40E Ch. 1.2 - Break-Even Analysis You are the manager of a firm....Ch. 1.2 - Prob. 42E Ch. 1.2 - Prob. 43E Ch. 1.2 - Prob. 44E Ch. 1.2 - Life Sciences 45. Deer Ticks Deer ticks are of...Ch. 1.2 - Prob. 46E Ch. 1.2 - Prob. 47E Ch. 1.2 - Prob. 48E Ch. 1.2 - Prob. 49E Ch. 1.2 - Prob. 50E Ch. 1.3 - Calculate the least squares line for the following...Ch. 1.3 - Prob. 2YT Ch. 1.3 - Prob. 1E Ch. 1.3 - Prob. 2E Ch. 1.3 - Prob. 3E Ch. 1.3 - Prob. 4E Ch. 1.3 - Prob. 5E Ch. 1.3 - Prob. 6E Ch. 1.3 - Prob. 7E Ch. 1.3 - Prob. 8E Ch. 1.3 - Prob. 9E Ch. 1.3 - Prob. 10E Ch. 1.3 - Prob. 11E Ch. 1.3 - Prob. 12E Ch. 1.3 - Prob. 13E Ch. 1.3 - Prob. 14E Ch. 1.3 - Mean Earnings The mean earnings (in dollars) of...Ch. 1.3 - Air Fares Using Expedia, a discount travel...Ch. 1.3 - Prob. 17E Ch. 1.3 - Size of Hunting Parties In the 1960s, the famous...Ch. 1.3 - Crickets Chirping Biologists have observed a...Ch. 1.3 - Prob. 20E Ch. 1.3 - Prob. 21E Ch. 1.3 - Prob. 22E Ch. 1.3 - SAT Scores At Hofstra University, all students...Ch. 1.3 - Prob. 24E Ch. 1.3 - Air Conditioning While shopping for an air...Ch. 1.3 - Prob. 26E Ch. 1.3 - Running If you think a marathon is a long race,...Ch. 1 - Determine whether each statement is true or false,...Ch. 1 - Prob. 2RE Ch. 1 - Prob. 3RE Ch. 1 - Prob. 4RE Ch. 1 - Prob. 5RE Ch. 1 - Prob. 6RE Ch. 1 - Prob. 7RE Ch. 1 - Prob. 8RE Ch. 1 - Prob. 9RE Ch. 1 - Prob. 10RE Ch. 1 - Determine whether each statement is true or false,...Ch. 1 - Prob. 12RE Ch. 1 - Prob. 13RE Ch. 1 - Prob. 14RE Ch. 1 - Prob. 15RE Ch. 1 - Prob. 16RE Ch. 1 - Prob. 17RE Ch. 1 - Prob. 18RE Ch. 1 - Prob. 19RE Ch. 1 - Prob. 20RE Ch. 1 - Prob. 21RE Ch. 1 - Prob. 22RE Ch. 1 - Prob. 23RE Ch. 1 - Prob. 24RE Ch. 1 - Prob. 25RE Ch. 1 - Prob. 26RE Ch. 1 - Prob. 27RE Ch. 1 - Prob. 28RE Ch. 1 - Prob. 29RE Ch. 1 - Prob. 30RE Ch. 1 - Prob. 31RE Ch. 1 - Prob. 32RE Ch. 1 - Prob. 33RE Ch. 1 - Prob. 34RE Ch. 1 - Prob. 35RE Ch. 1 - Prob. 36RE Ch. 1 - Prob. 37RE Ch. 1 - Prob. 38RE Ch. 1 - Prob. 39RE Ch. 1 - Prob. 40RE Ch. 1 - Prob. 41RE Ch. 1 - Prob. 42RE Ch. 1 - Prob. 43RE Ch. 1 - Prob. 44RE Ch. 1 - Prob. 45RE Ch. 1 - Prob. 46RE Ch. 1 - Prob. 47RE Ch. 1 - Prob. 48RE Ch. 1 - Prob. 49RE Ch. 1 - Prob. 50RE Ch. 1 - Prob. 51RE Ch. 1 - Prob. 52RE Ch. 1 - Prob. 53RE Ch. 1 - Prob. 54RE Ch. 1 - Prob. 55RE Ch. 1 - Prob. 56RE Ch. 1 - Prob. 57RE Ch. 1 - Prob. 58RE Ch. 1 - Prob. 59RE Ch. 1 - Life Sciences 60. World Health In general, people...Ch. 1 - Prob. 61RE Ch. 1 - Prob. 62RE Ch. 1 - Prob. 63RE Ch. 1 - Movies A mathematician exploring the relationship...

Knowledge Booster

The marginal profit.

Solution Summary: The author explains that the linear profit function is P(x)=26x-650 and the marginal profit is 26.

To find: The marginal profit.

Want to see the full answer?

Chapter 1 Solutions