Suppose a company has fixed costs of $1500 and variable costs of (3/4)x + 1120 dollars per unit, where x is the total number of units produced. Suppose further that the selling price of its product is 1200 − (1/4)x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) x = (b) Find the maximum revenue. (Round your answer to the nearest cent) $ (c) Form the profit function, P(x), from the cost and revenue functions. P(x) = Find maximum profit. (Round your answer to the nearest cent.) $ (d) What price will maximize the profit?
Suppose a company has fixed costs of $1500 and variable costs of (3/4)x + 1120 dollars per unit, where x is the total number of units produced. Suppose further that the selling price of its product is 1200 − (1/4)x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) x = (b) Find the maximum revenue. (Round your answer to the nearest cent) $ (c) Form the profit function, P(x), from the cost and revenue functions. P(x) = Find maximum profit. (Round your answer to the nearest cent.) $ (d) What price will maximize the profit?
Chapter11: Profit Maximization
Section: Chapter Questions
Problem 11.4P
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Suppose a company has fixed costs of $1500 and variable costs of (3/4)x + 1120 dollars per unit, where x is the total number of units produced. Suppose further that the selling
(a) Find the break-even points. (Enter your answers as a comma-separated list.)
x =
(b) Find the maximum revenue. (Round your answer to the nearest cent)
$
(c) Form the profit function, P(x), from the cost and revenue functions.
P(x) =
Find maximum profit. (Round your answer to the nearest cent.)
$
(d) What price will maximize the profit? (Round your answer to the nearest cent.)
x =
(b) Find the maximum revenue. (Round your answer to the nearest cent)
$
(c) Form the profit function, P(x), from the cost and revenue functions.
P(x) =
Find maximum profit. (Round your answer to the nearest cent.)
$
(d) What price will maximize the profit? (Round your answer to the nearest cent.)
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