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A manufacturer has a monthly fixed cost of $22,500 and a production cost of $6 for each unit produced. The product sells for $9/unit. Find
A manufacturer has a monthly fixed cost of $22,500 and a production cost of $6 for each unit produced. The product sells for $9/unit. Find the following functions (in dollars) and compute each profit (in dollars). (a) What is the cost function? C(x) = (b) What is the revenue function? R(x) = (c) What is the profit function? P(x) = (d) Compute the profit (loss) corresponding to production levels of 6,000 and 9,000 units. P(6,000) = $ P(9,000) = $ Baby Boomers and Social Secrurity Benefits Aging baby boomers will put a strain on Social Security benefits unless Congress takes action. The Social Security benefits to be paid out from 2010 through 2040 are projected to be s(t) = 0.1375+2 +0.5185t + 0.72 (osts 3) where s(t) is measured in trillions of dollars and t is measured in decades, with t = 0 corresponding to 2010. (Round your answers to two decimal places.) (a) What was the amount of Social Security benefits paid out in 2010? $ trillion (b) What is the amount of Social Security benefits projected to be paid out in 2040? trillion
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