The pricedemand equation and the cost function for the production of garden hoses are given, respectively, by
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The price–demand equation and the cost function for the production of garden hoses are given, respectively, by
p = 20 - √x and C(x) = 500 + 2x
where x is the number of garden hoses that can be sold at a price of $p per unit and C(x) is the total cost (in dollars) of producing x garden hoses.
(A) Express the revenue function in terms of x.
(B) Graph the cost function and revenue function in the same viewing window for 0 ≤ x ≤ 400. Use approximation techniques to find the break-even points correct to the nearest unit.
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Related Book For
College Mathematics For Business Economics, Life Sciences, And Social Sciences
ISBN: 978-0134674148
14th Edition
Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
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