Explore and Discuss 1 A student produced the following solution to Matched Problem 4: C ( x ) = 7 , 000 + 2 x Cost C ′ ( x ) = 2 Marginal cost C ′ ( x ) x = 2 x “Average” of the marginal cost Explain why the last function is not the same as the marginal average cost function.
Explore and Discuss 1 A student produced the following solution to Matched Problem 4: C ( x ) = 7 , 000 + 2 x Cost C ′ ( x ) = 2 Marginal cost C ′ ( x ) x = 2 x “Average” of the marginal cost Explain why the last function is not the same as the marginal average cost function.
Solution Summary: The author explains that the average of the marginal cost function is not the same.
1. Amazon has developed a cost model C(x) = 0.15x ^ 3 + 0.01x ^ 2 + 2x + 120 where x is the number of items sold, in thousands. The sales price can be modeled by S(x) = 30 - 0.01x . Thereforethe revenue is modeled by R(x) = x * S(x) Amazon's profit P(x) = R(x) - C(x) can be modeled by
3. The joint cost (in thousands of euros) for two products X and Y can be given by the following formula: C(x, y) = 40 + y^2 + 3x + 2xy + (x^2) y + y^3 where x represents the quantity of product X that is produced and y represents the quantity of product Y produced.
• If 12 units of product X and 20 units of product Y are produced, what are the marginal costs?
• What product line should be expanded in the current level of production?
1. Supply and Demand Equation for certain product are3q −200p + 1800 = 0and3q + 100p −1800 = 0respectively, where p represents the price per unit in dollars and q represents thenumber of units sold per time period.a) Find the equilibrium price algebraically.b) Find the equilibrium price when a tax of 27 cents per unit is imposed on thesupplier.
2. a) Find the break - even points for company X, which sells all it produces, if thevariable cost per unit is $3, fixed costs are $2 and YTR= 5√q, where q is the numberof thousands of units of output produced.b) Graph the total revenue curve and the total cost curve in the same plane.c) Use your answer in (a) to report the quantity interval in which maximum profitoccurs.Show all steps to get full credit. Solve it Algebraically
3. At 27, Joanna Gretz sets up an IRA with Merrill Lynch where she plans to deposit$2000 at the end of each year until age 60. Find the amount of annuity if she investsin(a) A corporate bond fund, which has historically…
Chapter 2 Solutions
Calculus for Business, Economics, Life Sciences, and Social Sciences (14th Edition)
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.