Members of a high school choir want to attend a national contest. After a sign-up, the choir director stated that the trip will cost $400 per choir member plus a $1500 fee for the choir to participate. a) Write an equation to represent the total average cost of the trip per choir member. b) What is the horizontal asymptote of the function? What does it mean in relationship to this problem? What is the vertical asymptote? What does it mean in relationship to the problem.

Members of a high school choir want to attend a national contest. After a sign-up, the choir director stated that the trip will cost $400 per choir member plus a $1500 fee for the choir to participate. a) Write an equation to represent the total average cost of the trip per choir member. b) What is the horizontal asymptote of the function? What does it mean in relationship to this problem? What is the vertical asymptote? What does it mean in relationship to the problem.

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter2: Mathematics For Microeconomics

Section: Chapter Questions

Problem 2.6P

See similar textbooks

Similar questions

To produce the next popular toy, a company has to pay a factory $250, 000 to set up the production line. They also have to pay $25 per item for the raw materials and labor. Write function for the average cost to produce x items. Then describe what happens to the average cost as the factory produces a large number of toys.
It costs a company $58 to produce 6 units of a product and $78 to produce 10 units. Assuming that the cost is linear, how much does it cost to produce 25 units?
please analyze the behavior of cost function and interpret the constant term in the expression of C(q)
Technology B uses 4 workers and 2 tonnes of coal to produce 100 meters of cloth. The worker's wages cost $10 and coal costs $5. We have previously calculated that the total cost of production is $50 and that the vertical intercept of the isocost line is 10.If there was a technology that used 1 more worker, how much would it have to decrease the coal required in order to cost the same? (Note: this is the absolute value of the slope of the isocost line.)
It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake. A cupcake is sold for $4.90 each. (iv) Write an algebraic expression representing the revenue R as a function of the number of cupcakes x sold.(v) Graph both functions on the same coordinate axes.(vi) From your graph find coordinatae at which cost equals revenue.(vii) Using your graph, determine how many cupcakes need to be made to produce revenue of at least $1,029. How much profit is made for this number of cupcakes?
Hi, I have been trying to compute the optimal values from this lagrangian. But I can't seem to find a way to get the values from the answer key. I attached both the question and answers. Could you please explain to me how to get these values from the first-order conditions? Thank you very much
Cost, Revenue & ProfitFor these problems, xx will represent the number of items and yy will represent the money.The fixed costs for a certain item are $215 per week. The cost to produce each item is $2 per item.Using this information, what is the cost equation? Give your answer in slope-intercept form:y=y= The retailer intends to sell each item for $13/item.Using this information, what is the revenue equation? Give your answer in slope-intercept form:y=y= If in this week 13 items are made, and all items are sold in the week, what are the total costs to the retailer?Cost = $What is the revenue from selling 13 items?Revenue = $Finally, what is the profit for this retailer?Profit = $Box 1 & 2: Enter your answer as an expression. Example: 3x^2+1, x/5, (a+b)/cBe sure your variables match those in the question.
a. sketch the Graph of y = 2* and y = G). Also describe the application of exponential and 3 logarithmic functions in Business. b. A manufacturer estimates that when q thousand units of a particular commodity are produced each month, the total cost will be C(q) = 0.4q? + 3q + 40 40 thousand dollars, and all q units can be sold at a price of p(q) = 22.2 – 1.2q dollars per unit. 1. Determine the level of production that results in maximum profit. What is the maximum profit? 2. At what level of production is the average cost per unit A(q) = ! C(a) minimized? 3. At what level of production is the average cost equal to the marginal cost C'(q)?
1. The cost in dollars to produce x yards of a certain fabric is: C (x) = 84 + 0.16x - 0.0006x2 + 0.000003x3 a)Find the marginal cost function b)Find C '(x) and explain its meaning. What do you forecast? c)Compare C '(100) with the cost of making the 101-th yard.
It costs a baker a fixed cost of $420 and variable cost of $2.10 per cupcake. A cupcake issold for $4.90 each.(i) Make a table showing the total cost and the revenue obtained from producing 20,40,60,80 and 100 cupcakes.(ii) Write algebraic expressions representing the cost C and the revenue R as functions of the number of cupcakes X produced and number of cupcakes X sold respectively.(iii) Graph both functions on the same coordinate axes and from your graph determine the cordinate at which cost equals revenue.
The cost, in thousands of dollars, of airing x television commercials during a sports event is given by C(x) = 150 + 2,600x – 0.06x2. (a) Find the marginal cost function C'(x). C'(x) = (b) Use the marginal cost to approximate the cost to air the 5th commercial. Convert your answer to dollars. The cost to air the 5th commercial is approximately X dollars. (c) What is the exact cost to air the 5th commercial? Convert your answer to dollars. The exact cost to air the 5th commercial is x dollars.
What is the difference between a price analysis and a cost analysis