Homework Help is Here – Start Your Trial Now!
Business
Economics
ostco sells a 74 Ib wheel of Parmigiano Reggiano cheese for $849. It costs them $640 to produce each wheel. Their cheese warehouse incurs $12,200 in Ils every month. Find the monthly Cost C(x), Revenue R(x), and Profit P(x) functions for the company. (x) = 640x+12,000 A (Do not enter comma for 1000s separator.) (x) = 849x P(x) = 849x-(640x+12,000) (Do not enter comma for 1000s separator.) . Find the marginal cost, marginal revenue, and marginal profit for Costco's wheel of cheese. Marginal cost = $640 wheel Marginal cost represents how much the Cost changes by if one more wheel was produced. O True False Marginal revenue = $ 849 /wheel Marginal revenue represents how much the Cost changes by if one more wheel was sold. O True False Marginal profit = $ 640 /wheel Marginal profit represents how much the Profit changes by if one more wheel was sold. O True False c. How many wheels of cheese must Cosico sell to make at least $12,200 in profit? (Round your answer to the nearest whole number.) Number

ostco sells a 74 Ib wheel of Parmigiano Reggiano cheese for $849. It costs them $640 to produce each wheel. Their cheese warehouse incurs $12,200 in Ils every month. Find the monthly Cost C(x), Revenue R(x), and Profit P(x) functions for the company. (x) = 640x+12,000 A (Do not enter comma for 1000s separator.) (x) = 849x P(x) = 849x-(640x+12,000) (Do not enter comma for 1000s separator.) . Find the marginal cost, marginal revenue, and marginal profit for Costco's wheel of cheese. Marginal cost = $640 wheel Marginal cost represents how much the Cost changes by if one more wheel was produced. O True False Marginal revenue = $ 849 /wheel Marginal revenue represents how much the Cost changes by if one more wheel was sold. O True False Marginal profit = $ 640 /wheel Marginal profit represents how much the Profit changes by if one more wheel was sold. O True False c. How many wheels of cheese must Cosico sell to make at least $12,200 in profit? (Round your answer to the nearest whole number.) Number

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
See similar textbooks
icon
Related questions
Question

I not sure how to do the last part. Part c. I think I got the tops parts but I am not sure

ostco sells a 74 lb wheel of Parmigiano Reggiano cheese for $849. It costs them $640 to produce each wheel. Their cheese warehouse incurs $12,200 in Ils every month. Find the monthly Cost C(x), Revenue R(x), and Profit P(x) functions for the company. (x) = 640x+12,000 a (Do not enter comma for 1000s separator.) %3D (x) = 849x %3D P(x) = 849x-(640x+12,000) (Do not enter comma for 1000s separator.) . Find the marginal cost, marginal revenue, and marginal profit for Costco's wheel of cheese. Marginal cost = $640 /wheel %3D Marginal cost represents how much the Cost changes by if one more wheel was produced. O True False Marginal revenue = $ 849 /wheel %3D Marginal revenue represents how much the Cost changes by if one more wheel was sold. O True False Marginal profit = $ 640 /wheel %3D Marginal profit represents how much the Profit changes by if one more wheel was sold. O True False с. How many wheels of cheese must Costco sell to make at least $12,200 in profit? (Round your answer to the nearest whole number.) Number
Transcribed Image Text:ostco sells a 74 lb wheel of Parmigiano Reggiano cheese for $849. It costs them $640 to produce each wheel. Their cheese warehouse incurs $12,200 in Ils every month. Find the monthly Cost C(x), Revenue R(x), and Profit P(x) functions for the company. (x) = 640x+12,000 a (Do not enter comma for 1000s separator.) %3D (x) = 849x %3D P(x) = 849x-(640x+12,000) (Do not enter comma for 1000s separator.) . Find the marginal cost, marginal revenue, and marginal profit for Costco's wheel of cheese. Marginal cost = $640 /wheel %3D Marginal cost represents how much the Cost changes by if one more wheel was produced. O True False Marginal revenue = $ 849 /wheel %3D Marginal revenue represents how much the Cost changes by if one more wheel was sold. O True False Marginal profit = $ 640 /wheel %3D Marginal profit represents how much the Profit changes by if one more wheel was sold. O True False с. How many wheels of cheese must Costco sell to make at least $12,200 in profit? (Round your answer to the nearest whole number.) Number
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Current Ratio
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS