Project 7 Mastr Budg.xMath 1500 Assignment 3 (chp 3x Secure https/www.webassign.
ID: 3116173 • Letter: P
Question
Project 7 Mastr Budg.xMath 1500 Assignment 3 (chp 3x Secure https/www.webassign.ne Page 17 dep 17182555 0119 0-15 points HarMathAp11 2.3.018 My Notes Ask Your T a company has fixed costs of $1800 and variable costs per unit of s+1410 dollars, where x is the totail number of units produced. Suppose further that the selling price of its product 16 1500- dollars per unit. 1s (a) Find the break-even points. (Enter your answers as a comma-separated list.) (b) Find the maximum revenue (e) Form the profit function P(x) from the c cost and revenue functions. Find the maximum proft (d) What price will maximize the proft? (Round your answer to the nearest cent.) Need Help? Le ArerSave Progress Practis Another Vsion A supply function and a demand function are given Supply: -H.12 portions of those functions on the same set of axes Label the marketqbrim poineExplanation / Answer
Solution:
1) Break even point= Fixed Costs/(Sales price per unit-Variable cost per unit)
X=1800/(1500-1/16x) - (15/16x+1410)=20.
2)Revenue=Price*Quantity
= 1500x-1/16X2=1499.996 = 1500
3) c) P= 1500-1/16x * 20
CostFunction=15/16x+1410=x + 1800=1.3
4) Maximum profit 30025
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