Explanation Given information: The marginal cost function of producing q units is given by C ′ ( q ) = 600 0.3 q + 5 The fixed cost of producing 30 bicycles is $ 2000 . Concept used: Total cost = fixed cost + variable cost Calculation: The variable cost of producing 30 bicycles is represented by the area under the marginal cost curve that is by the integral = 2000 + ∫ 0 30 C ' ( q ) d q . Total cost of producing 30 bicycles is given as follows: Fixed cost + Total variable cost = 2000 + ∫ 0 30 C ' ( q ) d q = 2000 + ∫ 0 30 600 0.3 q + 5 d q [ C ' ( q ) = 600 0.3 q + 5 ] = 2000 + 600 ∫ 0 30 1 0.3 q + 5 d q { d d x ( c x ) = c d d x ( x ) } = 2000 + 600 0 To determine (b) To find the profit or loss on the first 30 bicycles if the bikes are sold for $ 200 each. To determine (c) To find the marginal profit on the 31 st bicycle .

6th Edition

ISBN: 9781119399322

Author: Hughes-Hallett

Publisher: WILEY

See similar textbooks

Concept explainers

Minimization

In mathematics, traditional optimization problems are typically expressed in terms of minimization. When we talk about minimizing or maximizing a function, we refer to the maximum and minimum possible values of that function. This can be expressed in ter…

Maxima and Minima

The extreme points of a function are the maximum and the minimum points of the function. A maximum is attained when the function takes the maximum value and a minimum is attained when the function takes the minimum value.

Derivatives

A derivative means a change. Geometrically it can be represented as a line with some steepness. Imagine climbing a mountain which is very steep and 500 meters high. Is it easier to climb? Definitely not! Suppose walking on the road for 500 meters. Which …

Concavity

In calculus, concavity is a descriptor of mathematics that tells about the shape of the graph. It is the parameter that helps to estimate the maximum and minimum value of any of the functions and the concave nature using the graphical method. We use the …

Videos

Question

Chapter 5.5, Problem 11P

To determine

(a)

The total cost to produce 30 bicycles.

To determine

(b)

To find the profit or loss on the first 30 bicycles if the bikes are sold for $200 each.

To determine

(c)

To find the marginal profit on the 31st bicycle.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Chapter 5.5, Problem 10P

Chapter 5.5, Problem 12P

Students have asked these similar questions

Determine whether the lines L₁ (t) = (-2,3, −1)t + (0,2,-3) and L2 p(s) = (2, −3, 1)s + (-10, 17, -8) intersect. If they do, find the point of intersection.

Convert the line given by the parametric equations y(t) Enter the symmetric equations in alphabetic order. (x(t) = -4+6t = 3-t (z(t) = 5-7t to symmetric equations.

Find the point at which the line (t) = (4, -5,-4)+t(-2, -1,5) intersects the xy plane.

Chapter 5 Solutions

APPLIED CALCULUS (WILEY PLUS)

Ch. 5.1 - Prob. 1P Ch. 5.1 - Prob. 2P Ch. 5.1 - Prob. 3P Ch. 5.1 - Prob. 4P Ch. 5.1 - Prob. 5P Ch. 5.1 - Prob. 6P Ch. 5.1 - Prob. 7P Ch. 5.1 - Prob. 8P Ch. 5.1 - Prob. 9P Ch. 5.1 - Prob. 10P

Ch. 5.1 - Prob. 11P Ch. 5.1 - Prob. 12P Ch. 5.1 - Prob. 13P Ch. 5.1 - Prob. 14P Ch. 5.1 - Prob. 15P Ch. 5.1 - Prob. 16P Ch. 5.1 - Prob. 17P Ch. 5.1 - Prob. 18P Ch. 5.1 - Prob. 19P Ch. 5.1 - Prob. 20P Ch. 5.1 - Prob. 21P Ch. 5.1 - Prob. 22P Ch. 5.1 - Prob. 23P Ch. 5.1 - Prob. 24P Ch. 5.1 - Prob. 25P Ch. 5.1 - Prob. 26P Ch. 5.1 - Prob. 27P Ch. 5.1 - Prob. 28P Ch. 5.1 - Prob. 29P Ch. 5.1 - Prob. 30P Ch. 5.1 - Prob. 31P Ch. 5.1 - Prob. 32P Ch. 5.1 - Prob. 33P Ch. 5.1 - Prob. 34P Ch. 5.1 - Prob. 35P Ch. 5.1 - Prob. 36P Ch. 5.1 - Prob. 37P Ch. 5.1 - Prob. 38P Ch. 5.1 - Prob. 39P Ch. 5.1 - Prob. 40P Ch. 5.1 - Prob. 41P Ch. 5.2 - Prob. 1P Ch. 5.2 - Prob. 2P Ch. 5.2 - Prob. 3P Ch. 5.2 - Prob. 4P Ch. 5.2 - Prob. 5P Ch. 5.2 - Prob. 6P Ch. 5.2 - Prob. 7P Ch. 5.2 - Prob. 8P Ch. 5.2 - Prob. 9P Ch. 5.2 - Prob. 10P Ch. 5.2 - Prob. 11P Ch. 5.2 - Prob. 12P Ch. 5.2 - Prob. 13P Ch. 5.2 - Prob. 14P Ch. 5.2 - Prob. 15P Ch. 5.2 - Prob. 16P Ch. 5.2 - Prob. 17P Ch. 5.2 - Prob. 18P Ch. 5.2 - Prob. 19P Ch. 5.2 - Prob. 20P Ch. 5.2 - Prob. 21P Ch. 5.2 - Prob. 22P Ch. 5.2 - Prob. 23P Ch. 5.2 - Prob. 24P Ch. 5.2 - Prob. 25P Ch. 5.2 - Prob. 26P Ch. 5.2 - Prob. 27P Ch. 5.2 - Prob. 28P Ch. 5.2 - Prob. 29P Ch. 5.2 - Prob. 30P Ch. 5.2 - Prob. 31P Ch. 5.2 - Prob. 32P Ch. 5.2 - Prob. 33P Ch. 5.2 - Prob. 34P Ch. 5.2 - Prob. 35P Ch. 5.2 - Prob. 36P Ch. 5.2 - Prob. 37P Ch. 5.2 - Prob. 38P Ch. 5.2 - Prob. 39P Ch. 5.2 - Prob. 40P Ch. 5.2 - Prob. 41P Ch. 5.2 - Prob. 42P Ch. 5.2 - Prob. 43P Ch. 5.3 - Prob. 1P Ch. 5.3 - Prob. 2P Ch. 5.3 - Prob. 3P Ch. 5.3 - Prob. 4P Ch. 5.3 - Prob. 5P Ch. 5.3 - Prob. 6P Ch. 5.3 - Prob. 7P Ch. 5.3 - Prob. 8P Ch. 5.3 - Prob. 9P Ch. 5.3 - Prob. 10P Ch. 5.3 - Prob. 11P Ch. 5.3 - Prob. 12P Ch. 5.3 - Prob. 13P Ch. 5.3 - Prob. 14P Ch. 5.3 - Prob. 15P Ch. 5.3 - Prob. 16P Ch. 5.3 - Prob. 17P Ch. 5.3 - Prob. 18P Ch. 5.3 - Prob. 19P Ch. 5.3 - Prob. 20P Ch. 5.3 - Prob. 21P Ch. 5.3 - Prob. 22P Ch. 5.3 - Prob. 23P Ch. 5.3 - Prob. 24P Ch. 5.3 - Prob. 25P Ch. 5.3 - Prob. 26P Ch. 5.3 - Prob. 27P Ch. 5.3 - Prob. 28P Ch. 5.3 - Prob. 29P Ch. 5.3 - Prob. 30P Ch. 5.3 - Prob. 31P Ch. 5.3 - Prob. 32P Ch. 5.3 - Prob. 33P Ch. 5.3 - Prob. 34P Ch. 5.3 - Prob. 35P Ch. 5.3 - Prob. 36P Ch. 5.3 - Prob. 37P Ch. 5.3 - Prob. 38P Ch. 5.3 - Prob. 39P Ch. 5.3 - Prob. 40P Ch. 5.4 - Prob. 1P Ch. 5.4 - Prob. 2P Ch. 5.4 - Prob. 3P Ch. 5.4 - Prob. 4P Ch. 5.4 - Prob. 5P Ch. 5.4 - Prob. 6P Ch. 5.4 - Prob. 7P Ch. 5.4 - Prob. 8P Ch. 5.4 - Prob. 9P Ch. 5.4 - Prob. 10P Ch. 5.4 - Prob. 11P Ch. 5.4 - Prob. 12P Ch. 5.4 - Prob. 13P Ch. 5.4 - Prob. 14P Ch. 5.4 - Prob. 15P Ch. 5.4 - Prob. 16P Ch. 5.4 - Prob. 17P Ch. 5.4 - Prob. 18P Ch. 5.4 - Prob. 19P Ch. 5.4 - Prob. 20P Ch. 5.4 - Prob. 21P Ch. 5.4 - Prob. 22P Ch. 5.4 - Prob. 23P Ch. 5.4 - Prob. 24P Ch. 5.4 - Prob. 25P Ch. 5.4 - Prob. 26P Ch. 5.4 - Prob. 27P Ch. 5.4 - Prob. 28P Ch. 5.4 - Prob. 29P Ch. 5.4 - Prob. 30P Ch. 5.4 - Prob. 31P Ch. 5.4 - Prob. 32P Ch. 5.4 - Prob. 33P Ch. 5.4 - Prob. 34P Ch. 5.4 - Prob. 35P Ch. 5.4 - Prob. 36P Ch. 5.4 - Prob. 37P Ch. 5.4 - Prob. 38P Ch. 5.4 - Prob. 39P Ch. 5.4 - Prob. 40P Ch. 5.4 - Prob. 41P Ch. 5.4 - Prob. 42P Ch. 5.4 - Prob. 43P Ch. 5.4 - Prob. 44P Ch. 5.5 - Prob. 1P Ch. 5.5 - Prob. 2P Ch. 5.5 - Prob. 3P Ch. 5.5 - Prob. 4P Ch. 5.5 - Prob. 5P Ch. 5.5 - Prob. 6P Ch. 5.5 - Prob. 7P Ch. 5.5 - Prob. 8P Ch. 5.5 - Prob. 9P Ch. 5.5 - Prob. 10P Ch. 5.5 - Prob. 11P Ch. 5.5 - Prob. 12P Ch. 5.5 - Prob. 13P Ch. 5.5 - Prob. 14P Ch. 5.5 - Prob. 15P Ch. 5.5 - Prob. 16P Ch. 5.5 - Prob. 17P Ch. 5.5 - Prob. 18P Ch. 5.5 - Prob. 19P Ch. 5.5 - Prob. 20P Ch. 5.5 - Prob. 21P Ch. 5.5 - Prob. 22P Ch. 5.5 - Prob. 23P Ch. 5.5 - Prob. 24P Ch. 5.5 - Prob. 25P Ch. 5.5 - Prob. 26P Ch. 5.5 - Prob. 27P Ch. 5.6 - Prob. 1P Ch. 5.6 - Prob. 2P Ch. 5.6 - Prob. 3P Ch. 5.6 - Prob. 4P Ch. 5.6 - Prob. 5P Ch. 5.6 - Prob. 6P Ch. 5.6 - Prob. 7P Ch. 5.6 - Prob. 8P Ch. 5.6 - Prob. 9P Ch. 5.6 - Prob. 10P Ch. 5.6 - Prob. 11P Ch. 5.6 - Prob. 12P Ch. 5.6 - Prob. 13P Ch. 5.6 - Prob. 14P Ch. 5.6 - Prob. 15P Ch. 5.6 - Prob. 16P Ch. 5.6 - Prob. 17P Ch. 5.6 - Prob. 18P Ch. 5.6 - Prob. 19P Ch. 5.6 - Prob. 20P Ch. 5.6 - Prob. 21P Ch. 5.6 - Prob. 22P Ch. 5.6 - Prob. 23P Ch. 5.6 - Prob. 24P Ch. 5 - Prob. 1SYU Ch. 5 - Prob. 2SYU Ch. 5 - Prob. 3SYU Ch. 5 - Prob. 4SYU Ch. 5 - Prob. 5SYU Ch. 5 - Prob. 6SYU Ch. 5 - Prob. 7SYU Ch. 5 - Prob. 8SYU Ch. 5 - Prob. 9SYU Ch. 5 - Prob. 10SYU Ch. 5 - Prob. 11SYU Ch. 5 - Prob. 12SYU Ch. 5 - Prob. 13SYU Ch. 5 - Prob. 14SYU Ch. 5 - Prob. 15SYU Ch. 5 - Prob. 16SYU Ch. 5 - Prob. 17SYU Ch. 5 - Prob. 18SYU Ch. 5 - Prob. 19SYU Ch. 5 - Prob. 20SYU Ch. 5 - Prob. 21SYU Ch. 5 - Prob. 22SYU Ch. 5 - Prob. 23SYU Ch. 5 - Prob. 24SYU Ch. 5 - Prob. 25SYU Ch. 5 - Prob. 26SYU Ch. 5 - Prob. 27SYU Ch. 5 - Prob. 28SYU Ch. 5 - Prob. 29SYU Ch. 5 - Prob. 30SYU Ch. 5 - Prob. 31SYU Ch. 5 - Prob. 32SYU Ch. 5 - Prob. 33SYU Ch. 5 - Prob. 34SYU Ch. 5 - Prob. 35SYU Ch. 5 - Prob. 36SYU Ch. 5 - Prob. 37SYU Ch. 5 - Prob. 38SYU Ch. 5 - Prob. 39SYU Ch. 5 - Prob. 40SYU Ch. 5 - Prob. 41SYU Ch. 5 - Prob. 42SYU Ch. 5 - Prob. 43SYU Ch. 5 - Prob. 44SYU Ch. 5 - Prob. 45SYU Ch. 5 - Prob. 46SYU Ch. 5 - Prob. 47SYU Ch. 5 - Prob. 48SYU Ch. 5 - Prob. 49SYU Ch. 5 - Prob. 50SYU Ch. 5 - Prob. 51SYU Ch. 5 - Prob. 52SYU Ch. 5 - Prob. 53SYU Ch. 5 - Prob. 54SYU Ch. 5 - Prob. 55SYU Ch. 5 - Prob. 56SYU Ch. 5 - Prob. 57SYU Ch. 5 - Prob. 58SYU Ch. 5 - Prob. 59SYU Ch. 5 - Prob. 60SYU Ch. 5 - Prob. 1FOT Ch. 5 - Prob. 2FOT Ch. 5 - Prob. 3FOT Ch. 5 - Prob. 4FOT Ch. 5 - Prob. 5FOT Ch. 5 - Prob. 6FOT Ch. 5 - Prob. 7FOT Ch. 5 - Prob. 8FOT Ch. 5 - Prob. 9FOT Ch. 5 - Prob. 10FOT Ch. 5 - Prob. 11FOT

Knowledge Booster

$Calculus$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, calculus and related others by exploring similar questions and additional content below.

(a) The total cost to produce 30 bicycles.

Solution Summary: The total cost of producing 30 bicycles is 4059. The variable cost is represented by the area under the marginal cost curve.

Concept explainers

Videos

(a) The total cost to produce 30 bicycles.

(b) To find the profit or loss on the first 30 bicycles if the bikes are sold for $200 each.

(c) To find the marginal profit on the 31st bicycle.

Want to see the full answer?

Chapter 5 Solutions

(a)

The total cost to produce 30 bicycles.

(b)

To find the profit or loss on the first 30 bicycles if the bikes are sold for $200 each.

(c)

To find the marginal profit on the 31st bicycle.