In Problem, assume that a companys monthly total revenue and total cost (both in dollars) are given
Question:
In Problem, assume that a company’s monthly total revenue and total cost (both in dollars) are given by
R(x) = 140x - 0.01x2 and C (x) = 60x + 70,000
where x is the number of units. Let P(x) denote the profit function.
If R̅(x) = R(x)/x and C̅(x) = C(x)/x are, respectively, the company’s average revenue per unit and average cost per unit, find
(a) limx→0+ R̅(x).
(b) limx→0+C̅(x).
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Related Book For
Mathematical Applications For The Management, Life And Social Sciences
ISBN: 9781337625340
12th Edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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