Suppose a company has fixed costs of $53,200 and variable cost per unit of 1/3x + 444 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 2372 − 2/3x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) x = (b) Find the maximum revenue. (Round your answer to the nearest cent.) $ (c) Form the profit function P(x) from the cost and revenue functions. P(x) = Find maximum profit. $ (d) What price will maximize the profit? (Round your answer to the nearest cent.) $
Suppose a company has fixed costs of $53,200 and variable cost per unit of 1/3x + 444 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 2372 − 2/3x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) x = (b) Find the maximum revenue. (Round your answer to the nearest cent.) $ (c) Form the profit function P(x) from the cost and revenue functions. P(x) = Find maximum profit. $ (d) What price will maximize the profit? (Round your answer to the nearest cent.) $
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter7: Economies Of Scale And Scope
Section: Chapter Questions
Problem 5MC
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Question
Suppose a company has fixed costs of $53,200 and variable cost per unit of 1/3x + 444 dollars,
where x is the total number of units produced. Suppose further that the selling price of its product is
2372 − 2/3x dollars per unit.
(a) Find the break-even points. (Enter your answers as a comma-separated list.)
(b) Find the maximum revenue. (Round your answer to the nearest cent.)
$
(c) Form the profit function P(x) from the cost and revenue functions.
Find maximum profit.
$
(d) What price will maximize the profit? (Round your answer to the nearest cent.)
$
x =
(b) Find the maximum revenue. (Round your answer to the nearest cent.)
$
(c) Form the profit function P(x) from the cost and revenue functions.
P(x) =
Find maximum profit.
$
(d) What price will maximize the profit? (Round your answer to the nearest cent.)
$
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