Suppose a company has fixed costs of $36,000 and variable cost per unit of +222 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 1,452x dollars per unit. (a) Form the cost function and revenue function (in dollars). C(x) = R(x) = Find the break-even points. (Enter your answers as a comma-separated list.) (b) Find the vertex of the revenue function. (x, y) = Identify the maximum revenue. (c) Form the profit function from the cost and revenue functions (in dollars). P(x) = Find the vertex of the profit function. (x, y) = Identify the maximum profit. $

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
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Chapter1: Making Economics Decisions
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Suppose a company has fixed costs of $36,000 and variable cost per unit of x + 222 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 1,452 -
fx
(a) Form the cost function and revenue function (in dollars).
C(x) =
R(x) =
Find the break-even points. (Enter your answers as a comma-separated list.)
X =
(b) Find the vertex of the revenue function.
(x, y) =
Identify the maximum revenue.
$
(c) Form the profit function from the cost and revenue functions (in dollars).
P(x) =
Find the vertex of the profit function.
(x, y) =
Identify the maximum profit.
$
(d) What price will maximize the profit?
$
3²x₁
Ex dollars per unit.
Transcribed Image Text:Suppose a company has fixed costs of $36,000 and variable cost per unit of x + 222 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 1,452 - fx (a) Form the cost function and revenue function (in dollars). C(x) = R(x) = Find the break-even points. (Enter your answers as a comma-separated list.) X = (b) Find the vertex of the revenue function. (x, y) = Identify the maximum revenue. $ (c) Form the profit function from the cost and revenue functions (in dollars). P(x) = Find the vertex of the profit function. (x, y) = Identify the maximum profit. $ (d) What price will maximize the profit? $ 3²x₁ Ex dollars per unit.
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