{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-05-26T17:13:23-04:00", "answer_date": "2024-05-26 17:13:23", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "1751490", "url": "\/study-help\/questions\/a-firms-revenue-function-is-given-by-r-x12x001x2-and-1751490", "question_creation_date_js": "2024-05-26T17:13:23-04:00", "question_creation_date": "May 26, 2024 05:13 PM", "meta_title": "[Solved] A firm's revenue function is given by R ( | SolutionInn", "meta_description": "Answer of - A firm's revenue function is given by R (x)=12x-0.01x2 and its cost function is given by C (a) = 7x. From the cost fun | SolutionInn", "meta_keywords": "firm,s,revenue,function,x,=12x-0.01x2,cost,c,7x,fixed,$,select", "question_title_h1": " A firm's revenue function is given by R (x)=12x-0.01x2 and its cost function is given by C (a) = 7x. From the cost function,", "question_title": " A firm's revenue function is given by R (x)=12x-0.01x2 and its", "question_title_for_js_snippet": "A firm's revenue function is given by R (x) 12x 0 01x2 and its cost function is given by C (a) 7x From the cost function, the fixed cost is $ Select and the variable cost is Select We know the firm's fixed cost is $ Select when it produces the 10th unit When the firm produces and sells 10 units, its total profit is $ Select However, 10 units may not be the firm's profit maximizing output Perhaps, the 10 units will not even help the firm break even Based on the given cost and revenue functions, the firm maximizes its profit when it produces Select units The firm breaks even when it produces Select units We can deduce some other cool information from the firm's given cost function For instance, based on the cost function we know the average cost is Select Select marginal cost is and average fixed cost is Select The marginal revenue when the firm sells the 10th unit is Select number) Based on this, we know the firm's revenue must be Select sells the 10th unit (to the nearest whole at the point where it", "question_description": "\"image", "transcribed_text": "A firm's revenue function is given by R (x)=12x-0.01x2 and its cost function is given by C (a) = 7x. From the cost function, the fixed cost is $ [Select] and the variable cost is [Select] We know the firm's fixed cost is $ [Select] when it produces the 10th unit. When the firm produces and sells 10 units, its total profit is $ [Select] However, 10 units may not be the firm's profit-maximizing output. Perhaps, the 10 units will not even help the firm break even. Based on the given cost and revenue functions, the firm maximizes its profit when it produces [Select] units. The firm breaks even when it produces [Select] units. We can deduce some other cool information from the firm's given cost function. For instance, based on the cost function we know the average cost is [Select] [Select] marginal cost is and average fixed cost is [Select] The marginal revenue when the firm sells the 10th unit is [Select] number). Based on this, we know the firm's revenue must be [Select] sells the 10th unit. (to the nearest whole at the point where it", "related_book": { "title": "Core Concepts Of Accounting Information Systems", "isbn": "9780470507025, 0470507020", "edition": "11th Edition", "authors": "Nancy A. Bagranoff, Mark G. Simkin, Carolyn Strand Norman", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/102.jpg", "uri": "\/textbooks\/core-concepts-of-accounting-information-systems-11th-edition-9780470507025", "see_more_uri": "" }, "free_related_book": { "isbn": "0060730269", "uri": "\/textbooks\/ida-b-and-her-plans-to-maximize-fun-avoid-disaster-and-save-the-world-978-0060730260-123522", "name": "Ida B And Her Plans To Maximize Fun Avoid Disaster And Save The World", "edition": "" }, "question_posted": "2024-05-26 17:13:23", "see_more_questions_link": "\/study-help\/questions\/business-management-leadership-2023-June-05", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/study-help\/biology-science-for-life-with-physiology\/the-speciesarea-curve-tells-us-that-slowing-or-halting--1244567", "description": "The species-area curve tells us that slowing or halting___________ ___________ will potentially slow the rate of extinction.", "stars": 3 }, { "url": "\/in-2001-donald-malen-purchased-a-yardman-riding-mower-at", "description": "In 2001, Donald Malen purchased a Yard-Man riding mower at a Home Depot store. 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