Answered: Suppose that the selling price of a…

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter2: Functions And Their Graphs

Section2.4: A Library Of Parent Functions

Problem 47E: During a nine-hour snowstorm, it snows at a rate of 1 inch per hour for the first 2 hours, at a rate...

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Suppose that the selling price of a company's primary product is 1600−0.3x dollars per unit when x units are sold every week. (a) Write a formula for the total revenue as a function of x. R(x)= dollars per week (b) Suppose further that the product has fixed costs of 300 dollars and each units costs 0.7x+1420 dollars per unit to produce, where x is the number of units produced every week. Write a formula for the total cost as a function of x. C(x)= dollars per week (c) Find the break-even points. Round each value to at least three decimal places. The larger quantity at which break-even occurs is units per week, with corresponding revenue of dollars per week. The smaller quantity at which break-even occurs is units per week, with corresponding revenue of dollars per week. (d) Write a formula for the profit function. Recall that profit is the difference between revenue and cost. Profit: dollars per week (e) What price will maximize profit? Price: dollars per unit

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