Question
1. You produce and sell Blandas. The variable cost for producing Blandas and the Total revenue...
1. You produce and sell Blandas. The variable cost for producing Blandas and the Total revenue from their sale are given by
VC(x) = x3 − 10x2 + 32x and TR(x) = −2x2+ 18x
hundred dollars, where the quantity x is hundreds of Blandas produced and sold.
(a) Compute the Shutdown Price. Include units.
(b) Compute the Marginal Revenue MR(x) and simplify as much as possible.
(c) At what interval for the quantity x is the Total Revenue more than $3600?
(d) If it costs $8000 to produce 500 Blandas, what is the Fixed Cost? Include units.
Homework Answers
Answer #1
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