match the descirption to the functionsthanks for helpahpeaphlaepoehpqehqpeheqkposs attached Suppose C(x), R(x), and P(x) are the total cost, revenue, and profit of producing # items.Match the descriptions to the functions.C(x)1. C(x) =2. R(x)3. P(x) =4. C'(x)5. R' (a)6. P' (2)1.2.3.4.5.=6.R(2)2P(x)[Choose ][Choose ][Choose 1[Choose]marginal average profitmarginal revenuemarginal costmarginal profitaverage revenuemarginal average revenuemarginal average costaverage costaverage profit[Choose ]

Total Cost refers to the total expenses incurred to produce the goods and services. It consists of…

Suppose C(x), R(x), and P(x) are the total cost, revenue, and profit of producing items. Match the descriptions to the functions. C(x) 1. C(x) 2. R(x) = 3. P(x)= 4. C'(x) 5. R (ar) 6. P' (2) 1. 2. 3. 4. 5. 6. R(2) 20 P(x) [Choose ] [Choose ] [Choose l [Choose marginal average profit marginal revenue marginal cost marginal profit average revenue marginal average revenue marginal average cost average cost average profit [Choose ]

Suppose C(x), R(x), and P(x) are the total cost, revenue, and profit of producing items. Match the descriptions to the functions. C(x) 1. C(x) 2. R(x) = 3. P(x)= 4. C'(x) 5. R (ar) 6. P' (2) 1. 2. 3. 4. 5. 6. R(2) 20 P(x) [Choose ] [Choose ] [Choose l [Choose marginal average profit marginal revenue marginal cost marginal profit average revenue marginal average revenue marginal average cost average cost average profit [Choose ]

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A company produces very unusual CD's for which the variable cost is $ 15 per CD and the fixed costs are $ 50000. They will sell the CD's for $ 79 each. Let a be the number of CD's produced. Write the total cost C as a function of the number of CD's produced. C =$ Write the total revenue R as a function of the number of CD's produced. R=$ Write the total profit P as a function of the number of CD's produced. P=$ Find the number of CD's which must be produced to break even. The number of CD's which must be produced to break even is Question Help: Video Submit Question
X If total revenue received from the sale of x items is given by R(x) = 10 In (4x + 1), while the total cost to produce x items is C(x) = ¹ (a) The marginal revenue (b) The profit function P(x) (c) The marginal profit when x = 40 (d) Interpret the results of part (c). (a) How can the marginal revenue be found? A. Find R(x) - C(x). B. Find the derivative of R(x). C. Find the derivative of R(x) - C(x). R( 2 ). D. Find R find the following.
Central Grocery in New Orleans is famous for its muffaletta, a large round sandwich filled with deli meats and topped with a tangy olive salad. Suppose the following table represents cost and revenue data for Central Grocery. Muffaletta Sold per Day Price (P) Total Revenue (TR) Marginal Revenue (MR) Total Cost (TC) Marginal Cost (MC) Average Total Cost (ATC) Profit 0 $15 $12 1 14 18 2 13 20 3 12 21 4 11 23 5 10 26 6 9 30 7 8 35 8 7 42 9 6 52 10 5 78 Fill in the table What are the profit-maximizing price and quantity, and what…
Given Cost and Price (demand) functions C(q) = 110q + 45000 and p(q) = - 2.8q + 800, what profit can be earned if the price is set to be $550 per item? U The profit is $ 1,?9 (Round to the nearest cent.) A company produces a special new type of TV. The company has fixed costs of $499,000, and it costs STT00 to produce each TV. The company projects that if it charges a price of $2300 for the TV, it will be able to sell 850 TVs. If the company wants to sell 900 TVs, however, it must lower the price to $2000. Assumo a linear demand. What is the marginal profit if 200 TVs are produced It is $ 0 per item. (Round answer to nearest dollar.)
A company produces very unusual CD's for which the variable cost is $ 9 per CD and the fixed costs are $ 50,000. They will sell the CD's for $ 57 each. Let x be the number of CD's produced and sold. a. Write the total cost TC as a function of the number of CD's produced and sold. TC = $ b. Write the total revenue TR as a function of the number of CD's produced and sold. TR = $ c. Write the total net income NI as a function of the number of CD's produced and sold. NI = $ d. Find the number of CD's which must be produced and sold to breakeven. The number of CD's which must be produced and sold to breakeven is Round UP to the nearest whole number of CDs. Submit Question
Q2)Tony Keonte owns a factory that manufactures Eye-Games. His weekly profit (in thousands of dollars) is given by the following function: P(x) = -4x2 + 80x- 300. Where x is the number of Eye-Games sold. a) What is the largest number of Eye-Games that the company can sell and still make profit? (25 points) b) How many Eye-Games will the firm have to produce and sell in order to maximize profit? (25 points)
Suppose that the cost function for a commodity is C(x) = 40 + x2 dollars. (a) Find the marginal cost at x = 4 units. MC(4) = Tell what this predicts about the cost of producing 1 additional unit. The cost to produce the 5th unit is predicted to be $ (b) Calculate C(5) – C(4) to find the actual cost of producing 1 additional unit. Need Help? Read It Watch It
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To produce the next popular toy, a company has to pay a factory $250, 000 to set up the production line. They also have to pay $25 per item for the raw materials and labor. Write function for the average cost to produce x items. Then describe what happens to the average cost as the factory produces a large number of toys.
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