Question: Please help me resolve this problem ! For a certain company, the cost function for producingx items isC(x)=30x+150 and the revenue function for sellingx items
Please help me resolve this problem !
For a certain company, the cost function for producingx
items isC(x)=30x+150
and the revenue function for sellingx
items isR(x)=0.5(x90)2+4,050.
The maximum capacity of the company is150 items.
Part a: Answer the following questions about the cost functionC(x)
and the revenue functionR(x)
1-What is the domain and range ofC(x)?
2-What is the meaning of the slope and intercept ofC(x)?
3-At what production levelx
will the company receive the most revenue?
The maximum revenue occurs whenx=?
Part b: Answer the following questions about the profit functionP(x)
.
4-Assuming that the company sells all that it produces, what is the profit function? P(x)=
5-Why is finding the range ofP(x) important?
6-The company can choose to produce either60
or70 items. What is their profit for each case, and which level of production should they choose?
Profit when producing60 items =
Profit when producing70 items =
7-Can you explain, from our model, whythe company makes less profitwhen producing 10 more units?
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