Question
The ACME manufacturing company makes widgets. Their fixed costs are $1600 per month, while their cost per widget is $10. They sell each widget
The ACME manufacturing company makes widgets. Their fixed costs are $1600 per month, while their cost per widget is $10. They sell each widget for $29. If x is the number of widgets, answer the following. Give the cost function,C(x)=C(x)= Give the revenue function, R(x)=R(x)= Give the profit function, P(x)=P(x)= What is the minimum number of widgets the ACME manufacturing company must produce and sell each month to make a profit? NOTE that you need to enter a whole number since you can't produce part of a widget.
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Price theory and applications
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