The marginal cost of production is found to be C'(x) = 1000 – 20x + x² where x is the number of units produced. The fixed cost of production is $9000. The manufacturer sets the price per unit at $3400. a) Find the cost function. b) Find the revenue function. c) Find the profit function. d) Find the sales volume that yields maximum profit. e) Graph the revenue, cost, and profit functions.

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter5: Inverse, Exponential, And Logarithmic Functions
Section5.3: The Natural Exponential Function
Problem 44E
icon
Related questions
Question

I NEED THE ANSWER!!! THANK YOU!!!

The marginal cost of production is found to be
С (х) 3D 1000 — 20х + х2
where x is the number of units produced. The fixed cost of production is $9000.
The manufacturer sets the price per unit at $3400.
a) Find the cost function.
b) Find the revenue function.
c) Find the profit function.
d) Find the sales volume that yields maximum profit.
e) Graph the revenue, cost, and profit functions.
Transcribed Image Text:The marginal cost of production is found to be С (х) 3D 1000 — 20х + х2 where x is the number of units produced. The fixed cost of production is $9000. The manufacturer sets the price per unit at $3400. a) Find the cost function. b) Find the revenue function. c) Find the profit function. d) Find the sales volume that yields maximum profit. e) Graph the revenue, cost, and profit functions.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 6 steps with 1 images

Blurred answer
Recommended textbooks for you
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage