Suppose a company has fixed costs of $40,800 and average variable costs given by AVC(x)-x + 333 dollars per unit, where x is the total number of units produced. Suppose further that the selling price of its product is p=1567 - x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) (b) Find the maximum total revenue. (Round your answer to the nearest cent.) (c) Form the profit function, P(x), from the total cost and total revenue functions. P(x)- Find maximum profit. (Round your answer to the nearest cent.) (d) What price per unit will maximize the profit? (Round your answer to the nearest cent.)
Suppose a company has fixed costs of $40,800 and average variable costs given by AVC(x)-x + 333 dollars per unit, where x is the total number of units produced. Suppose further that the selling price of its product is p=1567 - x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) (b) Find the maximum total revenue. (Round your answer to the nearest cent.) (c) Form the profit function, P(x), from the total cost and total revenue functions. P(x)- Find maximum profit. (Round your answer to the nearest cent.) (d) What price per unit will maximize the profit? (Round your answer to the nearest cent.)
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
Chapter9: Applications Of Cost Theory
Section: Chapter Questions
Problem 3E
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(section 2. q 3) This is another question from my math homework due today by 5 and I have no clue how to solve it. I have attached my equation "cheat-sheet" please help me!
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