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10 Nov 2019
10. (15 pts) (See textbook page 82 for definitions of the economic functions used in this problem.) Company XYZ manufactures and sells widgets. The cost, in dollars, to produce x widgets is given by C(x)= 2880 + 5.60x for x20, and the price-demand function, in dollars per widget, is p(x)- 48-0.04x for 0sxs 1200 (a) Find and interpret C(300) (b) Find and interpret C(300). (Note that C(x) is the average cost function.) (c) Find and simplify the expression for the revenue function R(x). (work optional (d) Find and simplify the expression for the profit function P(r). (work optional) Note that p) and P) are different functions. (e) Find and interpret P(300), where P(x) is the profit function in part (d).
10. (15 pts) (See textbook page 82 for definitions of the economic functions used in this problem.) Company XYZ manufactures and sells widgets. The cost, in dollars, to produce x widgets is given by C(x)= 2880 + 5.60x for x20, and the price-demand function, in dollars per widget, is p(x)- 48-0.04x for 0sxs 1200 (a) Find and interpret C(300) (b) Find and interpret C(300). (Note that C(x) is the average cost function.) (c) Find and simplify the expression for the revenue function R(x). (work optional (d) Find and simplify the expression for the profit function P(r). (work optional) Note that p) and P) are different functions. (e) Find and interpret P(300), where P(x) is the profit function in part (d).
Collen VonLv2
3 Feb 2019