Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Revenue, cost and profit. The price-demand equation and the cost function for the production of HDTVs are given respectively, by x = 9,000 - 30p

image text in transcribed
Revenue, cost and profit. The price-demand equation and the cost function for the production of HDTVs are given respectively, by x = 9,000 - 30p and C(x) = 150,000 + 30x where x is the number of HDTVs that can be sold at a price of $p per TV and C(x) is the total cost (in dollars) of production x TVs. (A) Express the price p as a function of the demand x, and find the domain of this function. (B) Find the marginal cost. (C) Find the revenue function and state its domain. (D) Find the marginal revenue. (E) Find R'(3,000) and R'(6,000) and interpret these quantities. (F) Graph the cost function and the revenue function on the same coordinate system for 0 x 9,000. Find the break-even points and indicate regions of loss and profit. (G) Find the profit function in terms of x. (H) Find the marginal profit. (I) Find P' (1,500) and P'(4500) and interpret these quantities

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

Custom Edition For University Of Central Florida From Managerial Accounting

Authors: Karen Wilken Braun, Wendy Tietz

3rd Edition

1269451839, 978-1269451833

More Books

Students also viewed these Accounting questions