Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Algebra (not Calculus) For a certain company, the cost function for producing x items is C(x) = 30x + 250 and the revenue function for
Algebra (not Calculus)
For a certain company, the cost function for producing x items is C(x) = 30x + 250 and the revenue function for selling x items is R(x) = -0.5 (x-110)2 + 6050. The maximum capacity of the company is 160 items.
- What is the domain and range of C(x)?
- What is the meaning of the slope and intercept of C(x)?
- At what production level x will the company receive the most revenue... the maximum revenue occurs when x = ?
- Assuming all the products are sold, what is the profit function P(x) = ?
- Why is finding the range of P(x) important?
- The company can choose to produce either 80 or 90 items, what is their profit for each case, and which level of production should they choose? 80 items = ? 90 items = ?
- Why does the company make less profit when producing 10 more items?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started