Concept explainers
(a)
To calculate: The expression for the weekly profit earned by the company OHaganBooks.com from the sale of A River Burns through it, taking into account storage and shipping, it costs
(b)
To calculate: The price charged per book to maximize the profit and the maximum possible weekly profit taking into account storage and shipping, it costs which is
(c)
The difference after obtaining the largest revenue from the sale of A River Burns through it, Taking into account storage and shipping, it costs OHaganBooks.com
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Applied Calculus
- Average Cost The inventor of a new game believes that the variable cost for producing the game is $0.95 per unit and the fixed costs are $6000. The inventor sells each game for $1.69. Let x be the number of games produced. (a) The total cost for a business is the sum of the variable cost and the fixed costs. Write the total cost C as a function of the number of games produced. (b) Write the average cost per unit C=Cx as a function of x.arrow_forwardTEST YOUR UNDERSTADING FOR EXAMPLE 3.5 A donation to the university is required for the privilege of purchasing premium season football passes. The cost is a linear function of the number of season passes. It costs 8000 to get season passes for myself and my spouse. To get passes for my entire family of 5, it costs 17,000. Use a formula to express the total cost C, in dollars, of n season passes. EXAMPLE 3.5 CHANGING CELSIUS TO FAHRENHEIT Temperature F=F(C) in Fahrenheit is a linear function of the temperature C in Celsius. A lab assistant placed a Fahrenheit thermometer beside a Celsius thermometer and observed the following: When the Celsius thermometer reads 30 degree (C=30), the Fahrenheit thermometer reads 86 degrees (F=86). When the Celsius thermometer reads 40 degrees, the Fahrenheit thermometer reads 104 degrees. Part 1 Use a formula to express F as a linear function of C. Part 2 At sea level, water boils at 212 degrees Fahrenheit. What temperature in degrees Celsius makes water boil? Part 3 Explain in practical terms what the slope means in this setting.arrow_forwardWorking on a Commission A certain man works in sales and earns a base salary of 1000 per month plus 5 of his total sales for the month. a. Explain why his total monthly income I is a linear function of total sales S, both measured in dollars. b. How much does he earn if he sells 1600 in merchandise in a month? c. Write a formula that gives total monthly income as a linear function of sales in a month. d. What should his monthly total sales be if he wishes to earn 1350 this month?arrow_forward
- Total Cost The background for this exercise can be found in Exercises 13 and 14 in Section 3.2. The following table gives the total cost C, in dollars, for a widget manufacturer as a function of the number N of widgets produced during a month. Number N Total cost C 200 7900 250 9650 300 11, 400 350 13, 150 a. What are the fixed costs and variable cost for this manufacturer? b. The manufacturer wants to reduce the fixed costs so that the total cost at a monthly production level of 350 will be 12, 975. What will the new fixed costs be? c. Instead of reducing the fixed costs as in part b, the manufacturer wants to reduce the variable cost so that the total cost at a monthly production level of 350 will be 12, 975. What will the new variable cost be?arrow_forwardTuition at American Public Universities This is a continuation of Exercise 6. The following table shows the average yearly in-state tuition and required fees, in dollars, charged by four-year American public universities in the school year ending in the given year. Date Average tuition 2012 8318 2013 8595 2014 8872 2015 9149 2016 9426 a. Show that these data can be modeled by a linear function, and find its formula. b. What is the slope for the linear function modeling tuition and required fees for public universities? c. What is the slope of the linear function modeling tuition and required fees for private universities? Note: See Exercise 6. d. Explain what the information in parts b and c tells you about the rate of increase in tuition in public versus private institutions. e. Which type of institution shows the larger percentage increase from 2015 to 2016? 6. Tuition at American Private Universities The following table shows the average yearly tuition and required fees, in dollars, charged by four-year American private nonprofit universities in the school year ending in the given year. Date Average tuition 2012 27, 870 2013 29, 004 2014 30, 138 2015 31, 272 2016 32, 406 a. Show that these data can be modeled by a linear function, and find its formula. b. Plot the data points and add the graph of the linear formula you found in part a. c. What prediction does this formula give for average tuition and fees at four-year American private nonprofit universities for the academic year ending in 2021?arrow_forwardTEST YOUR UNDERSTADING FOR EXAMPLE 3.3 The State of New York also has an income tax. The tax table for New York shows that a single New York resident with a taxable income of 15,000 owes 671 in New York income tax. If the taxable income is 15,500, then the table shows a tax liability of 701. Assume that the state tax is a linear function of taxable income, and find the tax owed if the taxable income is 15,350. EXAMPLE 3.3 OKLAHOMA INCOME TAX The amount of income tax T=T(l), in dollars, owed to the state of Oklahoma is a linear function of the taxable income l, in dollars, at least over a suitably restricted range of incomes. According to the Oklahoma Income Tax table for the year 2015, a single Oklahoma resident taxpayer with a taxable income of 15,000 owes 579 in Oklahoma income tax. In functional notation, this is T(15,000)=579. If the taxable income is 15,500, then the table shows a tax liability of 605. Part 1 Calculate the rate of change in T with respect to I, and explain in practical terms what it means. Part 2 How much does the taxpayer owe if the taxable income is 15,350?arrow_forward
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