Question

The cost function for a certain company is C = 20x + 700 and the revenue...

The cost function for a certain company is C = 20x + 700 and the revenue is given by R = 100x − 0.5x2. Recall that profit is revenue minus cost. Set up a quadratic equation and find two values of x (production level) that will create a profit of $700.

Math   Algebra   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
For a certain company, the cost for producing x items is 50x+300 and the revenue for...
For a certain company, the cost for producing x items is 50x+300 and the revenue for selling x items is 90x−0.5x2. The profit that the company makes is how much it takes in (revenue) minus how much it spends (cost). In economic models, one typically assumes that a company wants to maximize its profit, or at least wants to make a profit! Part a: Set up an expression for the profit from producing and selling x items. We assume that...
For a certain company, the cost for producing x items is 50x+300 and the revenue for...
For a certain company, the cost for producing x items is 50x+300 and the revenue for selling x items is 90x−0.5x2. The profit that the company makes is how much it takes in (revenue) minus how much it spends (cost). In economic models, one typically assumes that a company wants to maximize its profit, or at least wants to make a profit! Part a: Set up an expression for the profit from producing and selling x items. We assume that...
For a certain company, the cost for producing x items is 50x+300 and the revenue for...
For a certain company, the cost for producing x items is 50x+300 and the revenue for selling x items is 90x−0.5x2. The profit that the company makes is how much it takes in (revenue) minus how much it spends (cost). In economic models, one typically assumes that a company wants to maximize its profit, or at least wants to make a profit! Part a: Set up an expression for the profit from producing and selling x items. We assume that...
For a certain company, the cost of producing x items is 55x+300 and the revenue for...
For a certain company, the cost of producing x items is 55x+300 and the revenue for selling x items is 95x-0.5^2. Part A: Set up an expression for the profit from producing and selling x items. Part B: Find two values of x that will create a profit $300. Part C: Is it possible for the company to make a profit of $15000?
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.
7. A furniture company is faced with the following the price-demand function, revenue function, and cost...
7. A furniture company is faced with the following the price-demand function, revenue function, and cost function: p(x) = 90 - 5x R(x) = xp(x) C(x) = 250 + 15x where p(x) is the price in dollars at which x hundred chairs can be sold and R(x) and C(x) are in thousands of dollars. (a) Give the revenue R for producing 1200 chairs. (b) Find the production level that gives the break-even point. (c) Find the production level that gives...
For the given cost function C ( x ) = 44100 + 700 x + x...
For the given cost function C ( x ) = 44100 + 700 x + x 2 C ( x ) = 44100 + 700 x + x 2 find: a) The cost at the production level 1850 b) The average cost at the production level 1850 c) The marginal cost at the production level 1850 d) The production level that will minimize the average cost e) The minimal average cost math
A manufacturer finds that the revenue generated by selling x units of a certain commodity is...
A manufacturer finds that the revenue generated by selling x units of a certain commodity is given by the function R(x) = 80x − 0.5x2, where the revenue R(x) is measured in dollars. What is the maximum revenue, and how many units should be manufactured to obtain this maximum? $ _______, at ______units
The revenue and cost functions for a particular product are given below. The cost and revenue...
The revenue and cost functions for a particular product are given below. The cost and revenue are given in dollars, and x represents the number of units . R(x) = −0.2x2 + 146x C(x) = 66x + 7980 (a) How many items must be sold to maximize the revenue? (b) What is the maximum revenue? (c) Find the profit function. P(x) =   −.2x2+212x+7980 (d) How many items must be sold to maximize the profit? (e) What is the maximum profit?...
The total revenue function for a certain product is given by R=590x dollars, and the total...
The total revenue function for a certain product is given by R=590x dollars, and the total cost function for this product is C=15,000 +50x + x squared 2 dollars, where x is the number of units of the product that are produced and sold. a. Find the profit function. b. Find the number of units that gives maximum profit. c. Find the maximum possible profit.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT