Mathematics, 04.10.2021 08:40, finesser16
For a certain company, the cost function for producing x items is C(x)=50x+100 and the revenue function for selling x items is R(x)=β0.5(xβ90)2+4,050. The maximum capacity of the company is 120 items.
The profit function P(x) is the revenue function R(x) (how much it takes in) minus the cost function C(x) (how much it spends). In economic models, one typically assumes that a company wants to maximize its profit, or at least make a profit!
Answers to some of the questions are given below so that you can check your work. Assuming that the company sells all that it produces,
what is the profit function? P(x)= Preview Change entry mode. Hint: Profit = Revenue - Cost as we examined in Discussion 3.
What is the domain of P(x)? Hint: Does calculating P(x) make sense when x=β10 or x=1,000?
The company can choose to produce either 40 or 50 items. What is their profit for each case, and which level of production should they choose? Profit when producing 40 items =
Profit when producing 50 items =
Can you explain, from our model, why the company makes less profit when producing 10 more units?
Answers: 2
Mathematics, 21.06.2019 20:30, becca2327
Tom is the deli manager at a grocery store. he needs to schedule employee to staff the deli department for no more that 260 person-hours per week. tom has one part-time employee who works 20 person-hours per week. each full-time employee works 40 person-hours per week. write and inequality to determine n, the number of full-time employees tom may schedule, so that his employees work on more than 260 person-hours per week. graph the solution set to this inequality.
Answers: 2
For a certain company, the cost function for producing x items is C(x)=50x+100 and the revenue funct...
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