A company has cost function C(q) 4000 2q dollars and revenue function R(q) 10q dollars (a) What are the fixed costs for the company (b) What is the marginal cost (c) What price is the company charging for its product (d) Graph C(q) and R(q) on the same axes and label the break even point, q 0 Expla...

a The fixed cost is the cost that would have to be paid even if nothing was produced That is t ...

A company has cost function C(q) = 4000 + 2q dollars and revenue function R(q) = 10q

Question:

A company has cost function C(q) = 4000 + 2q dollars and revenue function R(q) = 10q dollars.

(a) What are the fixed costs for the company?

(b) What is the marginal cost?

(d) Graph C(q) and R(q) on the same axes and label the break-even point, q₀. Explain how you know the company makes a profit if the quantity produced is greater than q₀.

(e) Find the break-even point q₀.

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Applied Calculus

ISBN: 9781119275565

6th Edition

Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale

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Question Posted: Apr 08, 2023 08:00 AM

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A company has cost function C(q) = 4000 + 2q dollars and revenue function R(q) = 10q

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a The fixed cost is the cost that would have to be paid even if nothing was produced That is t...View the full answer

Applied Calculus

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