Parts D-Fonly CASE STUDY 2A local company is planning to manufacture and market a four-slice toaster. For this toaster, theresearch department's estimates are a weekly demand of 300 toasters at a price of $25 per toasterand a weekly demand of 400 toasters at a price of $20. The financial department's estimates are fixedweekly costs of $5,000 and variable costs of $5 per toaster.a) Assume that the relationship between price p and demand x is linear. Use the researchdepartment's estimates to express p as a function of x and determine the domain of thefunction.b) Using your knowledge from Finite Math, determine the Revenue function in terms of x.c) Determine the Marginal Revenue at 2 different production levels for example 250 and 500units. Interpret these results. (HINT: Consider what a positive or negative first derivativeimplies)d) Assume that the cost function is linear. Use the financial department's estimates to express thecost function in terms of x.e) Determine the Marginal cost and interpret the results.f) Explain why performing Marginal Analysis will help the company to make good businessdecisions. (Approximately 250 words)COMMON FORMULAS:y2-y11. т %3DX2-x12. у 3D тх + b3. R(x) = x * p(x)

Name: Parts D-Fonly CASE STUDY 2A local company is planning to manufacture a
Uploaded: 2024-03-20T06:46:14.000Z
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Description: Parts D-Fonly CASE STUDY 2A local company is planning to manufacture and market a four-slice toaster. For this toaster, theresearch department's estimates are a weekly demand of 300 toasters at a price of $25 per toasterand a weekly demand of 400 toa