Financial Mathematics
Please answer question 4 and question 5
Financial Mathematics Please answer question 4 and question 5 o)23:30 Oe Image Edit View Go Help En Question 4 The total cost of producing x units of a commodity per week is C(x) 200 +4x +0,1x2 (a) Fi...
15) The cost of producing x units of a commodity per week is C(x) = 0.2x3 - 18x2 + 32x +200 Find all values of x where C"(x) - 0. How are these levels of production related to the graph of the marginal cost? A) X= 3. It corresponds to a maximum on the graph of C'(x). B) x - 30. It corresponds to a point of inflection on the graph of C'(x). C)x= 30. It corresponds to a minimum...
The total cost for producing 1000 units of a commodity is $3.3 million, and the revenue generated by the sale of 1000 units is $5.1 million. (a) What is the profit on 1000 units of the commodity? P(1000) = $ million (b) Assuming C(q) represents total cost and R(q) represents revenue for the production and sale of q units of a commodity, write an expression for profit
2.If C(x) is the cost of producing x units of a commodity, then the average cost per unit is c(x) = C(x)/x. Consider the cost function C(x) given below. C(x) = 24,000 + 290x + 6x3/2 (a) Find the total cost at a production level of 1000 units. (Round your answer to the nearest cent.) $ (b) Find the average cost at a production level of 1000 units. (Round your answer to the nearest cent.) $ per unit (c) Find...
2. (3 points) A company produces x units of commodity A and y units of commodity B. All the units can be sold for p = 90 – x dollars per unit of A and q = 60 – y dollars per unit of B. The cost (in dollars) of producing these units is given by the joint-cost function C(x, y) = + 2xy + y? What should x and y be to maximize profit? What is this maximum profit...
NUMBER 26
26. The cost of producing x units of a commodity is given by. TCU) = 100 + 402 – 2x a. Derive the following functions: FC - VC = AFC= Avc= ATC= b. Find TC(101) - TC(100) c. Find TC(x + 1) - TC(x), and explain in words what this means, 27. Consider the following inverse demand function: P = 200 - 40. Graph out the total revenue function in excel 28 Find the inverse demand function and...
Question 4 20 pts The cost (in dollars) of producing a units of a certain commodity is C - 4571 +152 +0.04.2? Estimate the instantaneous rate of change with respect to 2 when = 103. (This is called the marginal cost.) $22.21 per unit $23.24 per unit $27.36 per unit 58.24 per unit $19.12 per unit
C(x) is the total cost of producing x units of a particular commodity. Assume C(x) is in dollars. Use marginal cost to estimate the cost of producing the 4 st unit. What is the actual and estimated cost of producing the 4 st unit? 6) C(x) = 2x2 + 3x + 62 6) A) estimated cost = $11.00; B) estimated cost = $11.00; actual cost = $10.80 actual cost - $11.20 C) estimated cost = $10.80; D) estimated cost-$11.20; actual...
14. Suppose that when the price of a certain commodity is p dollars per unit, then x hundred units will be purchased by consumers, where = -0.05 x + 38 The cost of producing x hundred units is hundred dollars is C(x) = 0.02x2 + 3x + 574.77 hundred dollars a. Express the profit P obtained from the sale of x hundred units as a function of x. Sketch the graph of the profit function. b. Use the profit curve...
The total-cost, C(x), and total revenue, R(x), functions for producing x items are shown below, where 0 SXS 800 C(x) = 5900 + 100x and R(x) = - + 600X a) Find the total-profit function P(x). b) Find the number of items, x, for which the total profit is a maximum a) P(x) = b) The profit is maximized for a production of units
A commodity has a demand function modeled by p = 280 − 0.4x, and a total cost function modeled by C = 80x + 120, where x is the number of units. (a) What price yields a maximum profit? (b) Find the average cost per unit when x = 50 and x = 650. (c) Determine when the demand is elastic, inelastic, and of unit elasticity. (d) Use differentials to approximate the change in revenue as sales increase from 210...