Suppose a company has fixed costs of $4000 and variable costs per unit of 7/8 x + 1160 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 1300 − 1/8 x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) x = (b) Find the maximum revenue. $ (c) Form the profit function P(x) from the cost and revenue functions. P(x) = Find the maximum profit. $ (d) What price will maximize the profit? (Round your answer to the nearest cent.)
Suppose a company has fixed costs of $4000 and variable costs per unit of 7/8 x + 1160 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 1300 − 1/8 x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) x = (b) Find the maximum revenue. $ (c) Form the profit function P(x) from the cost and revenue functions. P(x) = Find the maximum profit. $ (d) What price will maximize the profit? (Round your answer to the nearest cent.)
College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter4: Polynomial And Rational Functions
Section4.1: Quadratic Functions
Problem 6SC: A company that makes and sells baseball caps has found that the total monthly cost C in dollars of...
Related questions
Question
Suppose a company has fixed costs of $4000 and variable costs per unit of 7/8 x + 1160 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 1300 − 1/8 x dollars per unit.
(a) Find the break-even points. (Enter your answers as a comma-separated list.)
(c) Form the profit function P(x) from the cost and revenue functions.
(d) What price will maximize the profit? (Round your answer to the nearest cent.)
x =
$ (b) Find the maximum revenue.
(c) Form the profit function P(x) from the cost and revenue functions.
P(x) =
Find the maximum profit.
$ (d) What price will maximize the profit? (Round your answer to the nearest cent.)
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 5 steps
Recommended textbooks for you
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning
College Algebra (MindTap Course List)
Algebra
ISBN:
9781305652231
Author:
R. David Gustafson, Jeff Hughes
Publisher:
Cengage Learning
Algebra for College Students
Algebra
ISBN:
9781285195780
Author:
Jerome E. Kaufmann, Karen L. Schwitters
Publisher:
Cengage Learning