Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN: 9780470458365
Author: Erwin Kreyszig
Publisher: Wiley, John & Sons, Incorporated
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Parts C and D only C) Assume that the cost function is linear. Express the cost function in terms of x D) Find the break even points D) Find
Until recently, hamburgers at the city sports arena cost $2.50 each. The food concessionaire sold an average of 1,500 hamburgers on game night. When the price was raised to $3.20, hamburger sales dropped off to an
average of 800 per night. The concessionaire's fixed costs were $1,162.80 per night and the variable cost was $1.21 per hamburger. Answer the following questions (A) through (F).
CID
(A) Assume that the relationship between price p and demand x is linear. Express p as a function of x and find the domain of this function.
p= 4-0.001x
The domain of p is 0≤x≤4000. (Type a compound inequality.)
(B) Find the revenue function in terms of x and state its domain.
R(x) = -0.001x² + 4x
The domain of R(x) is 0≤x≤4000 (Type a compound inequality.)
(C) Assume that the cost function is linear. Express the cost function in terms of x.
C(x) =
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Transcribed Image Text:Until recently, hamburgers at the city sports arena cost $2.50 each. The food concessionaire sold an average of 1,500 hamburgers on game night. When the price was raised to $3.20, hamburger sales dropped off to an average of 800 per night. The concessionaire's fixed costs were $1,162.80 per night and the variable cost was $1.21 per hamburger. Answer the following questions (A) through (F). CID (A) Assume that the relationship between price p and demand x is linear. Express p as a function of x and find the domain of this function. p= 4-0.001x The domain of p is 0≤x≤4000. (Type a compound inequality.) (B) Find the revenue function in terms of x and state its domain. R(x) = -0.001x² + 4x The domain of R(x) is 0≤x≤4000 (Type a compound inequality.) (C) Assume that the cost function is linear. Express the cost function in terms of x. C(x) =
(C) Assume that the cost function is linear. Express the cost function in terms of x.
C(x) =
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Transcribed Image Text:(C) Assume that the cost function is linear. Express the cost function in terms of x. C(x) =
Expert Solution
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Step 1

Hamburgers at the city sports arena cost $2.50 each.

The food concessionaire sold an average of 1500 hamburgers on game night.

When the price was raised to $3.20, hamburger sales dropped off to an average of 800 per night.

The concessionaire's fixed costs were $1162.80 per night and the variable cost was $1.21 per hamburger.

We have to find the given values.

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