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G] Example: Raggs, Ltd., a clothing firm, has fixed costs of $10,000 a year. These costs, such as rent, maintenance, and so on, must be paid no matter how much the company produces. To produce x units of a certain kind of suit, it costs $20 per suit (unit) in addition to the fixed costs. That is, the variable costs for producing x of these suits are 20x dollars. These costs are due to the amount produced and stem from items such as material, wages, fuel, and so on. The total cost C(x) of producing x suits a year is given by a function C. a. b. What is the total cost of producing 400 suits? When a business sells an item, it receives the price paid by the consumer (this is normally greater than the cost to the business of producing the item). The total revenue that a business receives is the product of the number of items sold and the price paid per item. Thus, if Riggs, Ltd., sells x suits at $80 per suit, the total revenue R(x), in dollars is given by c. d. C(x)=(Variable costs) + (Fixed costs) = 20x + 10,000. What is the total cost of producing 100 suits? e. f. R(x)= Unit price Quantity sold = 80x. Graph R(x) and C(x) using the same set of axes. (A rough sketch) When C(x) is above R(x), a loss will occur. Show this by shading the region. When R(x) is above C(x), a gain will occur. The total profit that a business receives is the amount left after all costs have been subtracted from the total revenue. Thus, if P(x) represents the total profit when x items are produced and sold, we have P(x)=(Total Revenue) - (Total Costs) = R(x) - C(x). Determine P(x) and draw its graph using the same set of axes as was used for the graph in part (c). The company will break even at that value of x for which P(x) = 0 (that is, no profit and no loss). This is the point at which R(x) = C(x). Find the break-even value of x. x

G] Example: Raggs, Ltd., a clothing firm, has fixed costs of $10,000 a year. These costs, such as rent, maintenance, and so on, must be paid no matter how much the company produces. To produce x units of a certain kind of suit, it costs $20 per suit (unit) in addition to the fixed costs. That is, the variable costs for producing x of these suits are 20x dollars. These costs are due to the amount produced and stem from items such as material, wages, fuel, and so on. The total cost C(x) of producing x suits a year is given by a function C. a. b. What is the total cost of producing 400 suits? When a business sells an item, it receives the price paid by the consumer (this is normally greater than the cost to the business of producing the item). The total revenue that a business receives is the product of the number of items sold and the price paid per item. Thus, if Riggs, Ltd., sells x suits at $80 per suit, the total revenue R(x), in dollars is given by c. d. C(x)=(Variable costs) + (Fixed costs) = 20x + 10,000. What is the total cost of producing 100 suits? e. f. R(x)= Unit price Quantity sold = 80x. Graph R(x) and C(x) using the same set of axes. (A rough sketch) When C(x) is above R(x), a loss will occur. Show this by shading the region. When R(x) is above C(x), a gain will occur. The total profit that a business receives is the amount left after all costs have been subtracted from the total revenue. Thus, if P(x) represents the total profit when x items are produced and sold, we have P(x)=(Total Revenue) - (Total Costs) = R(x) - C(x). Determine P(x) and draw its graph using the same set of axes as was used for the graph in part (c). The company will break even at that value of x for which P(x) = 0 (that is, no profit and no loss). This is the point at which R(x) = C(x). Find the break-even value of x. x

Algebra for College Students
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter12: Algebra Of Matrices
Section12.CR: Review Problem Set
Problem 37CR
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By hand solution needed Please answer part's D,E and F Correctly in 30 minutes and get the thumbs up please show neat and clean work
G] Example: Raggs, Ltd., a clothing firm, has fixed costs of $10,000 a year. These costs, such as rent, maintenance, and so on, must be paid no matter how much the company produces. To produce x units of a certain kind of suit, it costs $20 per suit (unit) in addition to the fixed costs. That is, the variable costs for producing x of these suits are 20x dollars. These costs are due to the amount produced and stem from items such as material, wages, fuel, and so on. The total cost C(x) of producing x suits a year is given by a function C. a. b. c. d. When a business sells an item, it receives the price paid by the consumer (this is normally greater than the cost to the business of producing the item). The total revenue that a business receives is the product of the number of items sold and the price paid per item. Thus, if Riggs, Ltd., sells x suits at $80 per suit, the total revenue R(x), in dollars is given by e. C(x)=(Variable costs) + (Fixed costs) = 20x + 10,000. What is the total cost of producing 100 suits? f. What is the total cost of producing 400 suits? R(x) = Unit price Quantity sold = 80x. Graph R(x) and C(x) using the same set of axes. (A rough sketch) When C(x) is above R(x), a loss will occur. Show this by shading the region. When R(x) is above C(x), a gain will occur. The total profit that a business receives is the amount left after all costs have been subtracted from the total revenue. Thus, if P(x) represents the total profit when x items are produced and sold, we have P(x)= (Total Revenue) - (Total Costs) = R(x) - C(x). Determine P(x) and draw its graph using the same set of axes as was used for the graph in part (c). The company will break even at that value of x for which P(x) = 0 (that is, no profit and no loss). This is the point at which R(x) = C(x). Find the break-even value of x. x
Transcribed Image Text:G] Example: Raggs, Ltd., a clothing firm, has fixed costs of $10,000 a year. These costs, such as rent, maintenance, and so on, must be paid no matter how much the company produces. To produce x units of a certain kind of suit, it costs $20 per suit (unit) in addition to the fixed costs. That is, the variable costs for producing x of these suits are 20x dollars. These costs are due to the amount produced and stem from items such as material, wages, fuel, and so on. The total cost C(x) of producing x suits a year is given by a function C. a. b. c. d. When a business sells an item, it receives the price paid by the consumer (this is normally greater than the cost to the business of producing the item). The total revenue that a business receives is the product of the number of items sold and the price paid per item. Thus, if Riggs, Ltd., sells x suits at $80 per suit, the total revenue R(x), in dollars is given by e. C(x)=(Variable costs) + (Fixed costs) = 20x + 10,000. What is the total cost of producing 100 suits? f. What is the total cost of producing 400 suits? R(x) = Unit price Quantity sold = 80x. Graph R(x) and C(x) using the same set of axes. (A rough sketch) When C(x) is above R(x), a loss will occur. Show this by shading the region. When R(x) is above C(x), a gain will occur. The total profit that a business receives is the amount left after all costs have been subtracted from the total revenue. Thus, if P(x) represents the total profit when x items are produced and sold, we have P(x)= (Total Revenue) - (Total Costs) = R(x) - C(x). Determine P(x) and draw its graph using the same set of axes as was used for the graph in part (c). The company will break even at that value of x for which P(x) = 0 (that is, no profit and no loss). This is the point at which R(x) = C(x). Find the break-even value of x. x
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