Lenora Manufacturing company is planning to market enamel cups. After conducting extensive market surveys, the research department provides the following estimates: a monthly demand of 200 cups at a price of $16 per cup and a monthly demand of 300 cups at a price of $14 per cup. The financial department estimates that monthly fixed costs will be $1,400 and variable costs (cost per unit) will be $4. (a) Assume that the relationship between price p and demand x is linear. Use the research department's estimates to determine the Lenora's price-demand function, p(x). (b) What would be the price per cup for an order of 260 units? (c) Find the revenue function, R(x). (d) Find the maximum revenue that the company can realize, stating the number of books that must be sold to obtain this highest revenue. (e) Assume that the cost function is linear. Use the financial department's estimates to find the cost function,C(x). (f) Find the profit function, P(x). (g) Determine, algebraically, the break-even points for Lenora's operation. (h) State the range of values for profit to occur.

Lenora Manufacturing company is planning to market enamel cups. After conducting extensive market surveys, the research department provides the following estimates: a monthly demand of 200 cups at a price of $16 per cup and a monthly demand of 300 cups at a price of $14 per cup. The financial department estimates that monthly fixed costs will be $1,400 and variable costs (cost per unit) will be $4. (a) Assume that the relationship between price p and demand x is linear. Use the research department's estimates to determine the Lenora's price-demand function, p(x). (b) What would be the price per cup for an order of 260 units? (c) Find the revenue function, R(x). (d) Find the maximum revenue that the company can realize, stating the number of books that must be sold to obtain this highest revenue. (e) Assume that the cost function is linear. Use the financial department's estimates to find the cost function,C(x). (f) Find the profit function, P(x). (g) Determine, algebraically, the break-even points for Lenora's operation. (h) State the range of values for profit to occur.

Elements Of Electromagnetics

7th Edition

ISBN:9780190698614

Author:Sadiku, Matthew N. O.

Publisher:Sadiku, Matthew N. O.

ChapterMA: Math Assessment

Section: Chapter Questions

Problem 1.1MA

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