MATH 157 Lecture Notes - Marginal Revenue, Solution Process, Marginal Cost

• School: Simon Fraser University
• Department: Mathematics
• Course: MATH 157
• Professor: Stephen Choi

Document Summary

Directions: print double sided, write your solutions to both questions directly on this page, place immediately after cover page and staple together! Marks: an answer without a detailed solution process will be awarded zero marks! Q1: pulsar manufactures a series of 19-in. colour television sets. The quantity x of these sets demanded each week is related to the wholesale unit price p by the equation p = 0. 006x + 180. The weekly total cost incurred by pulsar for producing x sets is. C(x) = 0. 000002x3 0. 02x2 + 120x + 60, 000 dollars: find the revenue function r and the pro t function p . Solution: the revenue function r(x) = p x = 0. 006x2 + 180x. = ( 0. 006x2 + 180x) (0. 000002x3 0. 02x2 + 120x + 60, 000) = 0. 000002x3 + 0. 014x2 + 60x 60, 000: find the marginal cost function c(cid:48), the marginal revenue function r(cid:48), and the marginal pro t function p (cid:48).