Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How were these found? I am confused!! The price-demand equation and the cost function for the production of table saws are given, respectively, by x

image text in transcribed

How were these found? I am confused!!

image text in transcribed
The price-demand equation and the cost function for the production of table saws are given, respectively, by x = 5968 - 20p C(x) = 31x + 102133.8 where x is the number of saws that can be sold at a price of $p per saw and C(a ) is the total cost (in dollars) of producing a saws. A. Express the price, p, as a function of the demand, . x - 5968 P(= = -20 B. Find the revenue function, R(x). RT = x2- 5968x -0.05x2+ 298.4x -20 C. Find the profit function, P(x). P(x) = -0.05x + 267.4x + 102134 X -0.052 + 267.4x - 102133.8

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Changing Geography Of Banking And Finance

Authors: Pietro Alessandrini ,Michele Fratianni ,Alberto Zazzaro

1st Edition

1441947205, 978-1441947208

Students also viewed these Mathematics questions