| 52. Break-even analysis. The price-demand equation and the cost function for the production of handwoven silk scarves are given, respectively, by p = 60 – 2Vx where x is the number of scarves that can be sold at a price of Sp per unit and C(x) is the total cost (in dollars) of producing x scarves. and C(x) = 3,000 + 5x %3D (A) Express the revenue function in terms of x. (B) Graph the cost function and the revenue function in the same viewing window for 0 < x < 900. Use approxi- mation techniques to find the break-even points correct to the nearest unit.
| 52. Break-even analysis. The price-demand equation and the cost function for the production of handwoven silk scarves are given, respectively, by p = 60 – 2Vx where x is the number of scarves that can be sold at a price of Sp per unit and C(x) is the total cost (in dollars) of producing x scarves. and C(x) = 3,000 + 5x %3D (A) Express the revenue function in terms of x. (B) Graph the cost function and the revenue function in the same viewing window for 0 < x < 900. Use approxi- mation techniques to find the break-even points correct to the nearest unit.
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter11: Price And Output Determination: Monopoly And Dominant Firms
Section: Chapter Questions
Problem 5E
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