The demand and cost equations for the production of a certain ancillary component of HDTVs are given by p(x) = 300 number of components which can be sold at a price of $p and C(x) the cost of producing x number of components. - x and C(x) = 15000 + 30x where x is the 30

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
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Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
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Chapter11: Price And Output Determination: Monopoly And Dominant Firms
Section: Chapter Questions
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The demand and cost equations for the production of a certain ancillary component
of HDTVs are given by
1
p(x) = 300
30
-x and C(x) = 15000 + 30x where x is the
number of components which can be sold at a price of $p and C(x) the cost of
producing x number of components.
-
1. Find marginal revenue at the production level of 150 components and write in
words the meaning of i
2. Determine number of components x that will maximize the revenue. (Show
appropriate work that leads you to the answer)
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Transcribed Image Text:The demand and cost equations for the production of a certain ancillary component of HDTVs are given by 1 p(x) = 300 30 -x and C(x) = 15000 + 30x where x is the number of components which can be sold at a price of $p and C(x) the cost of producing x number of components. - 1. Find marginal revenue at the production level of 150 components and write in words the meaning of i 2. Determine number of components x that will maximize the revenue. (Show appropriate work that leads you to the answer) Edit View Insert Format Tools Table Paragraph V BI U 12pt v A 2 T²:
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