Suppose a company has fixed costs of $800 and variable costs per unit of 3/4x + 1640 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 1700 - 1/4x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) x = (b) Find the maximum revenue. $ (c) Form the profit function P(x) from the cost and revenue functions. P(x) = Find the maximum profit. $ (d) What price will maximize the profit? (Round your answer to the nearest cent.) $
Added by Jack H.
Step 1
So, we set the cost function equal to the revenue function and solve for x: 800 + (3/4)x + 1640x = (1700 - 1/4)x * x 800 + 1640.75x = 1700x - 0.25x^2 0.25x^2 + 59.25x - 800 = 0 Using the quadratic formula, we find that x = 10.67, 298.33. So, the break-even points Show more…
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