Question

The cost function for producing x items is C(x) = 45000 + 25x - 0.10x^2. The...

The cost function for producing x items is C(x) = 45000 + 25x - 0.10x^2. The revenue function R(x) = 750 - 0.60x^2.
a.Determine the production cost for the first 500 items.
b.The marginal cost function.
c.How fast is the cost growing when production is at 500 units.
d.The average cost per item for the first 500 items.
e.The marginal revernue function R'(x).
f.The profit function.
g.The marginal profit function.
h.What production level maximizes revenue.

Homework Answers

Answer #1

Answers.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The revenue function of a company is given by R(x)=-2x^2+25x+150, the cost function is given by...
The revenue function of a company is given by R(x)=-2x^2+25x+150, the cost function is given by C(x)=13x+100 a. Find the marginal cost and marginal revenue function. b. Find the production level x where the profit is maximized. Then find the maximum profit.
   Consider that for ‘x’ units sold, the total REVENUE function is : R(x) = 75x2– 15x...
   Consider that for ‘x’ units sold, the total REVENUE function is : R(x) = 75x2– 15x – 200 and the total COST   function is : C(x) = 750 + 25x – 100 √ x. (b)                    Also determine values of (i) Marginal Revenue when x= 25 and     (ii) MP(25), where marginal Revenue is defined as derivative of Revenue function and MP(x) = P'(x).  
7. Suppose the cost, in dollars, of producing x items is given by the function C(x)...
7. Suppose the cost, in dollars, of producing x items is given by the function C(x) = 1/6x3+ 2x2+ 30. Current production is at x = 9 units. (a) (3 points) Use marginal analysis to find the marginal cost of producing the 10th unit. (b) (3 points) Find the actual cost of producing the 10th unit.
3) The marginal cost for producing x items can be given by the formula: C ′...
3) The marginal cost for producing x items can be given by the formula: C ′ ( x ) = 350 − 0.18 x. Find the total cost function if the cost of making 300 items is known to be $97,400. a) What are the fixed costs? b) How much would it cost to make 500 items?
If C(x) = 14000 + 600x − 0.6x2 + 0.004x3 is the cost function and p(x)...
If C(x) = 14000 + 600x − 0.6x2 + 0.004x3 is the cost function and p(x) = 1800 − 6x is the demand function, find the production level that will maximize profit. (Hint: If the profit is maximized, then the marginal revenue equals the marginal cost.)
The cost of producing a plastic toy is given by the function C(x) = 8x +...
The cost of producing a plastic toy is given by the function C(x) = 8x + 25, where x is the number of hundreds of toys. The revenue from toy sales is given by R(x) = −x2 + 120x − 360. Since profit = revenue − cost, the profit function must be P(x) = −x2 + 112x − 385 (verify). How many toys sold will produce the maximum profit? What is the maximum profit?
A shoe company sells x shoes at price p = 500-x. The cost for production is...
A shoe company sells x shoes at price p = 500-x. The cost for production is c = 2000 + 10x^2. a. what is the marginal revenue of the 50th order? b. what is the breakeven point? c. what production maximizes total profit? d. what price maximizes profit?
If a company's cost function for a product is C(q) = 2280 + 3.8q + 0.004q2...
If a company's cost function for a product is C(q) = 2280 + 3.8q + 0.004q2 and the revenue function is R(q) = 12.2q − 0.002q2, find the production level that maximizes profit. ................................. units
Cost, revenue, and profit are in dollars and x is the number of units. Suppose that...
Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the total revenue function for a product is R(x) = 55x and that the total cost function is C(x) = 2200 + 35x + 0.01x2. (a) Find the profit from the production and sale of 500 units. (b) Find the marginal profit function (c) Find MP at x = 500. Explain what it predicts. The total profit will ------ by approximately $------- on the...
The revenue from selling q items is R(q)=650q−q^2, and the total cost is C(q)=100+11q. Write a...
The revenue from selling q items is R(q)=650q−q^2, and the total cost is C(q)=100+11q. Write a function that gives the total profit earned, and find the quantity which maximizes the profit. Profit π(q)= Quantity maximizing profit q=
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT