In Problem, cost, revenue, and profit are in dollars and x is the number of units. Suppose

Question:

In Problem, cost, revenue, and profit are in dollars and x is the number of units.

Suppose that the marginal cost for a product is M̅C̅ = 60√x + 1 and its fixed cost is $340. If the marginal revenue for the product is MR = 80x, find the profit or loss from production and sale of

(a) 3 units.

(b) 8 units.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Mathematical Applications For The Management, Life And Social Sciences

ISBN: 9781337625340

12th Edition

Authors: Ronald J. Harshbarger, James J. Reynolds

See More Books

Question Posted: Nov 16, 2020 01:20 AM

See More Questions

In below Problems cost, revenue, and profit are in dollars and x is the number of units. 1. Suppose the total cost function for a product is C(x) = 3x2 + 15x + 75 How many units will minimize the...
Suppose that the marginal revenue for a product is MR = 900 and the marginal cost is MC = 30 x + 4, with a fixed cost of $1000. (a) Find the profit or loss from the production and sale of 5 units....
Suppose that the marginal cost for a product is MC = 60x + 1 and its fixed cost is $340.00. If the marginal revenue for the product is MR = 80x, find the profit or loss from production and sale of...
A particle is described by the normalized wave function (x, y, z) = Axe-ax2 e -y2 e-yz2', where A, a, , and are all real, positive constants. The probability that the particle will be found in the...
Explain under what situations a process may request a shared lock or an exclusive lock. What problem may a process requesting an exclusive lock suffer from?
In Exercises, find all points where the functions have any relative extrema. Identify any saddle points. (x, y) = xy + y - 2x
At the beginning of April one year, the silver forward prices (in cents per troy ounce) were as follows: The carrying cost of silver is about 20 cents per ounce per year, paid at the beginning of...
Gold Explorers Inc. (Gold Explorers) is a major Canadian gold mining corporation. Gold Explorers has mines and development projects in Canada (Northern Ontario and British Columbia), the United...
You are required to add the following methods to the (1 points) Appending a given value to the buffer. class. (2 points) Inserting a given double value to a given position in the buffer. When the...
Seventh Investments, Inc., began by issuing common stock for cash of $250,000. The company immediately purchased computer equipment on account for $106,000. 1. Set up the following T-accounts of...
Evaluate the integrals in Problem. xe 2x2dx
In Problem, use integration to find the general solution to each differential equation. 4y 3 dy = (3x 2 + 2x) dx
Each three-nucleotide group in a DNA molecule corresponds to a particular a. amino acid c. enzyme b. nucleic acid d. protein
What is the meaning of cost-volume-benefit examination in administrative navigation?
How important is an authoritarian government to Singapore's success? Would it be possible to have more civil liberties and a less intrusive state and still maintain Singapore's prosperity? Does...
You have a patient who is breathing at 1 0 times per minute, is unable to walk, has an open airway, and has a delayed capillary refill time. This patient would fit wh category of the START Triage...
Again, looking back on the various proposals and recommendations you have provided to senior leadership, how would you recommend rolling them out ( e . g . , a grand launch of everything, everywhere,...
Now, describe a time, either at your current organization or in another work setting, when you felt particularly engaged with your work and with yourself. You felt and experienced yourself to be...
Currie Company has an opportunity to purchase a forklift to use in its heavy equipment rental business. The forklift would be leased on an annual basis during its first two years of operation....
What types of questions can be answered by analyzing financial statements?
Refer to Exercise 7.45. In exercise 7.45 The following table lists the bivariate distribution of X and Y . a. Determine the distribution of X + Y . b. Determine the mean and variance of X + Y . c....
The bivariate distribution of X and Y is described here. a. Find the marginal probability distribution of X. b. Find the marginal probability distribution of Y . c. Compute the mean and variance of...
Refer to Exercise 7.59. In exercise 7.59 A fire inspector has conducted an extensive analysis of the number of smoke detectors and the number of carbon monoxide detectors in the homes in a large...
How is a market structure identified? What type of market structure drives the pharmaceutical market?
Quality is often described as the fourth triple - constraint ( cost , schedule, and scope being the other three constraints ) . Address this project quality topic by discussing the following key...
Image transcription text Moist air flow through a duct which contains a heating element. The moist air enters at 95 kPa, 12 C and (I) = 30%; the flow rate is 6 m3/min. Air leaves the heating element...

In Problem, cost, revenue, and profit are in dollars and x is the number of units. Suppose

Question:

Step by Step Answer:

MC 60x 1 MR 80x a P3 409 408 300 260 b P8 4...View the full answer

Mathematical Applications For The Management, Life And Social Sciences

Students also viewed these Mathematics questions