![Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)](https://www.bartleby.com/isbn_cover_images/9781337111348/9781337111348_largeCoverImage.gif)
Concept explainers
Total Revenue and Profit This is a continuation of Exercise 8. In general, the highest price p per unit of an item at which a manufacturer can sell N items is not constant, but is, rather, a function of N. Suppose the manufacturer of widgets in Exercise 8 has developed the following table showing the highest price p, in dollars, of a widget at which N widgets can be sold.
Number N | Price p |
200 | 43.00 |
250 | 42.50 |
300 | 42.00 |
350 | 41.50 |
a. Find a formula for p in terms of N modeling the data in the table.
b. Use a formula to express the total monthly revenue R, in dollars, of this manufacturer in a month as a function of the number N of widgets produced in a month. Is R a linear function of N?
c. On the basis of the tables in this exercise and the preceding one, use a formula to express the monthly profit P, in dollars, of this manufacturer as a function of the number of widgets produced in a month. Is P a linear function of N?
8. Total Cost The background for this exercise can be found in Exercises 13 and 14 in Section 3.2. The following table gives the total cost C, in dollars, for a widget manufacturer as a function of the number N of widgets produced during a month.
Number N | Total cost C |
200 | 7900 |
250 | 9650 |
300 | 11, 400 |
350 | 13, 150 |
a. What are the fixed costs and variable cost for this manufacturer?
b. The manufacturer wants to reduce the fixed costs so that the total cost at a monthly production level of 350 will be $12, 975. What will the new fixed costs be?
c. Instead of reducing the fixed costs as in part b, the manufacturer wants to reduce the variable cost so that the total cost at a monthly production level of 350 will be $12, 975. What will the new variable cost be?
![Check Mark](/static/check-mark.png)
Want to see the full answer?
Check out a sample textbook solution![Blurred answer](/static/blurred-answer.jpg)
Chapter 3 Solutions
Functions and Change: A Modeling Approach to College Algebra (MindTap Course List)
- dent Application X GA spinner is divided into five cox | + 9/26583471/4081d162951bfdf39e254aa2151384b7 A spinner is divided into five colored sections that are not of equal size: red, blue, green, yellow, and purple. The spinner is spun several times, and the results are recorded below: Spinner Results Color Frequency Red 5 Blue 11 Green 18 Yellow 5 Purple 7 Based on these results, express the probability that the next spin will land on purple as a fraction in simplest form. Answer Attempt 1 out of 2 Submit Answer 0 Feb 12 10:11 Oarrow_forward2 5x + 2–49 2 x+10x+21arrow_forward5x 2x+y+ 3x + 3y 4 6arrow_forward
- Calculați (a-2023×b)²⁰²⁴arrow_forwardA student completed the problem below. Identify whether the student was correct or incorrect. Explain your reasoning. (identification 1 point; explanation 1 point) 4x 3x (x+7)(x+5)(x+7)(x-3) 4x (x-3) (x+7)(x+5) (x03) 3x (x+5) (x+7) (x-3)(x+5) 4x²-12x-3x²-15x (x+7) (x+5) (x-3) 2 × - 27x (x+7)(x+5) (x-3)arrow_forward2 Add the rational expressions below. Can you add them in this original form? Explain why or why not. 3x-7 5x + x² - 7x+12 4x-12 Show all steps. State your least common denominator and explain in words your process on how you determined your least common denominator. Be sure to state your claim, provide your evidence, and provide your reasoning before submitting.arrow_forward
- carol mailed a gift box to her sister the boxed gift weighed a total of 2 pounds the box alone weighed 13 ounces what was the wright of the giftarrow_forwardDirections: Use the table below to answer the following questions and show all work. Heights of Females 50.0 51.5 53.0 53.5 54.0 1. What is the average female height? 2. What are all the differences from the mean? 3. What is the variance for the female heights? 4. What is the standard deviation of the heights of the females? 5. What does the standard deviation found in number 4 represent? Write your answer in complete sentences.arrow_forward135 metr uzunlikdagi simni 6:3 nisbatda qismlarga am eatingarrow_forward
- Glencoe Algebra 1, Student Edition, 9780079039897...AlgebraISBN:9780079039897Author:CarterPublisher:McGraw HillAlgebra & Trigonometry with Analytic GeometryAlgebraISBN:9781133382119Author:SwokowskiPublisher:CengageFunctions and Change: A Modeling Approach to Coll...AlgebraISBN:9781337111348Author:Bruce Crauder, Benny Evans, Alan NoellPublisher:Cengage Learning
- Big Ideas Math A Bridge To Success Algebra 1: Stu...AlgebraISBN:9781680331141Author:HOUGHTON MIFFLIN HARCOURTPublisher:Houghton Mifflin HarcourtCollege Algebra (MindTap Course List)AlgebraISBN:9781305652231Author:R. David Gustafson, Jeff HughesPublisher:Cengage Learning
![Text book image](https://www.bartleby.com/isbn_cover_images/9780079039897/9780079039897_smallCoverImage.jpg)
![Text book image](https://www.bartleby.com/isbn_cover_images/9781337111348/9781337111348_smallCoverImage.gif)
![Text book image](https://www.bartleby.com/isbn_cover_images/9781680331141/9781680331141_smallCoverImage.jpg)
![Text book image](https://www.bartleby.com/isbn_cover_images/9781305652231/9781305652231_smallCoverImage.gif)
![Text book image](https://www.bartleby.com/isbn_cover_images/9781938168383/9781938168383_smallCoverImage.gif)