Question

a) The Cost of selling widgets is given by the cost function c(x)= 4x+10. The price...

a) The Cost of selling widgets is given by the cost function c(x)= 4x+10.

The price of each widget is given by the function p= 50-0.05x.

A) How many widgets must be sold to maximize profit?
B) What will be the Maximum Profit?
C) What price per widget must be charged in order to maximize profit.

Math   Calculus   
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
A company produces x widgets for a cost of C(x) dollars and sells them for 2280...
A company produces x widgets for a cost of C(x) dollars and sells them for 2280 dollars per widget. If the cost function is C(x)=6450+760x+0.8x2, find the production level that will maximize profit. x = _____widgets Be sure to apply a test to check that you have found the maximum.
?Raggs, Ltd. a clothing? firm, determines that in order to sell x? suits, the price per...
?Raggs, Ltd. a clothing? firm, determines that in order to sell x? suits, the price per suit must be p=180?0.75x. It also determines that the total cost of producing x suits is given by C(x)=4000+0.75x^2. ?a) Find the total? revenue, R(x)= ?b) Find the total? profit, P(x)= ?c) How many suits must the company produce and sell in order to maximize? profit? ?d) What is the maximum? profit? ?e) What price per suit must be charged in order to maximize?...
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 company making widgets has a price-demand equation p(x) = 400 − .02x where x is...
A company making widgets has a price-demand equation p(x) = 400 − .02x where x is the monthly demand and p is the price per widget and the cost equation is C(x) = 200x + 20, 000. Find the price that maximizes the profit and give the maximum profit.
24. Given MR = 200-4X, and MC = 50 + 2X, and the total cost of...
24. Given MR = 200-4X, and MC = 50 + 2X, and the total cost of producing 10 widgets is $700. At what level should the company hold production (X=#units produced) in order to maximize the profits?
A video game console manufacturer determines that in order to sell x units of a new...
A video game console manufacturer determines that in order to sell x units of a new console, the price per unit, in dollars, must be p=1750-2x . The manufacturer also determines that the total cost of producing x units is given by (Cx)=22500+15x . Find the total revenue function R(x) ? Find the total profit function P(x) ? How many units must the company produce and sell in order to maximize profit? (Use the second derivative test to verify this...
Let's say an online retailer sells tablets. The demand (price) function is given by p(x)=500−18x, where...
Let's say an online retailer sells tablets. The demand (price) function is given by p(x)=500−18x, where x is the number of tablets produced sold and p(x) is the price per week, while the cost, in dollars per week to produce x tablets is given by C(x)=35000+120x. Based on this, answer the following questions: 1. Determine the Revenue Function. 2. Determine the number of tablets the retailer would have to sell to maximize revenue. What is the maximum revenue? 3. Determine...
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?...
Widget Makers is a startup selling widgets. Each widget sells for $10 and costs $7 to...
Widget Makers is a startup selling widgets. Each widget sells for $10 and costs $7 to make. The company’s annual overhead expenses (salaries, rent, insurance, and marketing) is $400,000. How many widgets per year does it have to sell to break even? If Widget makers sold 40,000 widgets in the year that just ended and sales will grow at 30% per year, then how many months will it take to break even?
The weekly demand function for x units of a product sold by only one firm is...
The weekly demand function for x units of a product sold by only one firm is p = 400 − 1/2x dollars, and the average cost of production and sale is C = 100 + 2x dollars. (a) Find the quantity that will maximize profit. units (b) Find the selling price at this optimal quantity. $  per unit (c) What is the maximum profit? $ The weekly demand function for x units of a product sold by only one firm is...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT