Revenue, cost, and profit. The company in Problem 47 is also planning to manufacture and market a four-slice toaster. For this toaster, the research department's estimates are a weekly demand of 300 toasters at a price of $25 per toaster and a weekly demand of 400 toasters at a price of $20. The financial department's estimates are fixed weekly costs of $5,000 and variable costs of $5 per toaster. (A) Assume that the relationship between price p and de- mand x is linear. Use the research department's estimates to express p as a function of x, and find the domain of this function. (B) Find the revenue function in terms of x and state its domain. (C) Assume that the cost function is linear. Use the financial department's estimates to express the cost function in terms of x. (D) Graph the cost function and revenue function on the same coordinate system for 0 sx s 800. Find the break-even points and indicate regions of loss and profit.
Revenue, cost, and profit. The company in Problem 47 is also planning to manufacture and market a four-slice toaster. For this toaster, the research department's estimates are a weekly demand of 300 toasters at a price of $25 per toaster and a weekly demand of 400 toasters at a price of $20. The financial department's estimates are fixed weekly costs of $5,000 and variable costs of $5 per toaster. (A) Assume that the relationship between price p and de- mand x is linear. Use the research department's estimates to express p as a function of x, and find the domain of this function. (B) Find the revenue function in terms of x and state its domain. (C) Assume that the cost function is linear. Use the financial department's estimates to express the cost function in terms of x. (D) Graph the cost function and revenue function on the same coordinate system for 0 sx s 800. Find the break-even points and indicate regions of loss and profit.
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
Related questions
Concept explainers
Equations and Inequations
Equations and inequalities describe the relationship between two mathematical expressions.
Linear Functions
A linear function can just be a constant, or it can be the constant multiplied with the variable like x or y. If the variables are of the form, x2, x1/2 or y2 it is not linear. The exponent over the variables should always be 1.
Question
Answer with complete solutions
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 8 steps with 1 images
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, calculus and related others by exploring similar questions and additional content below.Recommended textbooks for you
Calculus: Early Transcendentals
Calculus
ISBN:
9781285741550
Author:
James Stewart
Publisher:
Cengage Learning
Thomas' Calculus (14th Edition)
Calculus
ISBN:
9780134438986
Author:
Joel R. Hass, Christopher E. Heil, Maurice D. Weir
Publisher:
PEARSON
Calculus: Early Transcendentals (3rd Edition)
Calculus
ISBN:
9780134763644
Author:
William L. Briggs, Lyle Cochran, Bernard Gillett, Eric Schulz
Publisher:
PEARSON
Calculus: Early Transcendentals
Calculus
ISBN:
9781285741550
Author:
James Stewart
Publisher:
Cengage Learning
Thomas' Calculus (14th Edition)
Calculus
ISBN:
9780134438986
Author:
Joel R. Hass, Christopher E. Heil, Maurice D. Weir
Publisher:
PEARSON
Calculus: Early Transcendentals (3rd Edition)
Calculus
ISBN:
9780134763644
Author:
William L. Briggs, Lyle Cochran, Bernard Gillett, Eric Schulz
Publisher:
PEARSON
Calculus: Early Transcendentals
Calculus
ISBN:
9781319050740
Author:
Jon Rogawski, Colin Adams, Robert Franzosa
Publisher:
W. H. Freeman
Calculus: Early Transcendental Functions
Calculus
ISBN:
9781337552516
Author:
Ron Larson, Bruce H. Edwards
Publisher:
Cengage Learning