A company decides to launch a new product. The financial department provides the total cost function,...

 

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A company decides to launch a new product. The financial department provides the total cost function, C(x) = 100+ 20x, for producing x units. a. After suitable test marketing, the research department presents the following price-demand equation, p(x) = -.05x + 220 where x is the number of units that retailers are likely to buy at $p per unit where 0 ≤ x ≤ 4400. Find the total revenue function, R(x) and state its domain. b. Find R(3200) and interpret its meaning using appropriate units. c. Find the total profit function, P(x) and state its domain. A company decides to launch a new product. The financial department provides the total cost function, C(x) = 100+ 20x, for producing x units. a. After suitable test marketing, the research department presents the following price-demand equation, p(x) = -.05x + 220 where x is the number of units that retailers are likely to buy at $p per unit where 0 ≤ x ≤ 4400. Find the total revenue function, R(x) and state its domain. b. Find R(3200) and interpret its meaning using appropriate units. c. Find the total profit function, P(x) and state its domain.

Answer rating: 100% (QA)

a The total revenue function is found by multiplying the price per unit by the number of units sold ... View the full answer