Engineering Economy (16th Edition) - Standalone book
Engineering Economy (16th Edition) - Standalone book
16th Edition
ISBN: 9780133439274
Author: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher: PEARSON
Question
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Chapter 2, Problem 18P

a.

To determine

The annual profit for a mine to produce 20,000 tons per year.

b.

To determine

The mine profitability.

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Suppose a company has fixed costs of $40,800 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 1946 - 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.)
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