Question
47 Revenue, cost and profit . A company is planning to manufacture and market a new two slice electric toaster. After conducting extensive market surveys,
47 Revenue, cost and profit . A company is planning to manufacture and market a new two slice electric toaster. After conducting extensive market surveys, the research department provides the following estimates: a weekly demand of 200 toasters at a price of $ 14 per toaster. The financial department estimates that weekly fixed cost will be $ 1400 and variable cost (cost per unit) will be $ 4
(A) Assume that the relationship between price p and demand x is linear. Use the research department's estimates to express p as a function of x and find the domain of this function
(B)Find the revenue function in terms of x and state its domain
(C)Assume that the cost function is linear. Use the financial departments estimates to express the cost function in terms of x
(D) Graph the cost function and revenue function on the same coordinate system for 0 < x < 1000. Fund the break-even points and indicate regions of loss and profit
(E)Find the profit function in terms of x
(F)Evaluate the marginal profit at x = 250 and x = 475 and interpret the results
PS : Can you show the full work out and not just answers, thank you.
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