ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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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
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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
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