Concept explainers
(a)
To calculate: The cost to produce 1 unit of the product if the cost of the first raw material is $16 per pound, the cost of the second raw material is $8 per pound, and labor costs $18 per hour. The manufacture of 1 unit of a product has a cost (in dollars) given by
(b)
To calculate: The partial derivative of C with respect to x. The manufacture of 1 unit of a product has a cost (in dollars) given by
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Mathematical Applications for the Management, Life, and Social Sciences
- The total cost of producing 1 unit of a product is given by C(x,y)=30+10x2+20y-xy dollars Where x is the hourly labor rate and y is the cost per pound of raw materials. the current hourly rate is $15 and the raw materials cost $6 per pound. how will an increase of a)$1 per pound for the raw materials affect the total cost b)$1 in the hourly labor rate affect the total cost?arrow_forwardSuppose that the total cost (in dollars) of producing a product is C(x, y) = 15 + 3x2 + 5y2, where x is the cost per pound for material and y is the cost per hour for labor. (a) If material costs are held constant, at what rate will the total cost increase for each $1-per-hour increase in labor? (b) If the labor costs are held constant, at what rate will the total cost increase for each increase of $1 in material cost?arrow_forwardThe weekly demand for the Pulsar 40-in. high-definition television is given by the demand equation p = −0.05x + 600 (0 ≤ x ≤ 12, 000) where p denotes the wholesale unit price in dollars and x denotes the quantity demanded. The weekly total cost function associated with manufacturing these sets is given by C(x) = 0.000002x 3 − 0.03x 2 + 250x + 80, 000 where C(x) denotes the total cost incurred in producing x sets. 4. Give the profit that corresponds to your production level from part (3). If necessary, round profit to the nearest cent.arrow_forward
- The construction cost C is directly proportional to the material input (M) and the square of investment (I) and conversely proportional to the labor input (L). Supposing C = 18, when M = 2, I = 6, and L = 4 all in million pesos units, what will be the construction cost in million pesos when L = 6, I = 4, and M = 3?arrow_forwardThe weekly demand for the Pulsar 40-in. high-definition television is given by the demand equation p = −0.05x + 551 (0 ≤ x ≤ 12,000) where p denotes the wholesale unit price in dollars and x denotes the quantity demanded. The weekly total cost function associated with manufacturing these sets is given by C(x) = 0.000004x3 − 0.03x2 + 400x + 80,000 where C(x) denotes the total cost incurred in producing x sets. Find the level of production that will yield a maximum profit for the manufacturer. Hint: Use the quadratic formula. (Round your answer to the nearest whole number.) unitsarrow_forward
- Linear Algebra: A Modern IntroductionAlgebraISBN:9781285463247Author:David PoolePublisher:Cengage Learning