The graphs of the revenue and cost functions for the production and sale of x units are shown below. The cost function is the straight line, and the revenue function is the curve. 15000 14000 13000 12000 11000 10000 9000 8000 7000 6000 5000 4000 3000 2000 1000 50 100 150 200 250 300 350 400 450 500 a. Use the graph to estimate the production level x that maximizes profit. Use only values that appear on the horizontal axis for your estimation. x = units b. What are the points (x, C(x)) and (x, R(x)) on the graphs of the cost and revenue functions corresponding to the value of x that maximizes profit? (x, C(x)) = Preview (x, R(x)) = Preview c. What is the maximum profit? $ d. If the cost per unit decreases, should the production level be raised or lowered to maximize profit? Select an answer kept the same raised lowered
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This is where the revenue function (the curve) is the furthest above the cost function (the straight line). Without the actual graph, it's impossible to give a specific number, but let's say it's around 300 units. Show more…
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The graphs of the revenue and cost functions for the production and sale of x units are shown below. The cost function is the straight line, and the revenue function is the curve. a. Use the graph to estimate the production level x that maximizes profit. Use only values that appear on the horizontal axis for your estimation. x = units b. What are the points (x, C(x)) and (x, R(x)) on the graphs of the cost and revenue functions corresponding to the value of x that maximizes profit? (x, C(x)) = (x, R(x)) = c. What is the maximum profit? $ d. If the cost per unit decreases, should the production level be raised or lowered to maximize profit? Select an answer
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The graphs of a company's total revenue function R(x) and total cost function C(x) are shown. Use the graphs to answer the following questions. Does the company receive more profit from the sale of 100 units or 700 units? profits at 100 and 700 units are the same profit is more from 700 units profit is more from 100 units Which is larger - the revenue from the sale of the 100th unit or the 400th unit? revenues from 100th and 400th units are the same revenue is more from 100th unit revenue is more from 400th unit The sale of approximately what number of units maximizes profit?
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Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the total revenue function for a product is R(x) = 40x and that the total cost function is C(x) = 2100 + 20x + 0.01x^2. (a) Find the profit from the production and sale of 500 units. (b) Find the marginal profit function. (c) Find MP at x = 500. Explain what it predicts. The total profit will approximately $ on the sale of the next (501st) unit. (d) Find P(501) - P(500). Explain what this value represents. This is the total cost of 501 units. This is the actual revenue on the sale of the 501st unit. This is the actual profit on the sale of the 501st unit. This is the total profit for 501 units. This is the actual cost of the 501st unit.
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