A certain seed and fertilizer company compiled the following estimates for its operations. Capacity per period is sales of $170,000. (a) the revenue function (b) the cost function (a) Write an algebraic expression for the revenue function. Assume a selling price of $1. Total Revenue = (Type an expression using x as the variable. Do not include the $ symbol in your answer.) Sales Fixed cost Total variable cost Total cost Net income $39,300 63,840 $152,000 103,140 $48,860

A certain seed and fertilizer company compiled the following estimates for its operations. Capacity per period is sales of $170,000. (a) the revenue function (b) the cost function (a) Write an algebraic expression for the revenue function. Assume a selling price of $1. Total Revenue = (Type an expression using x as the variable. Do not include the $ symbol in your answer.) Sales Fixed cost Total variable cost Total cost Net income $39,300 63,840 $152,000 103,140 $48,860

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter4: Extent (how Much) Decisions

Section: Chapter Questions

Problem 3MC

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ATC, AAC, AVC, MC (/uni 270.00 24000 21000 180.00 150.00 120.00 10:00 60.00 30.00 0:00 02 4 6 8 10 12 14 16 18 20 22 24 26 28 30 32 34 Units of Output (0) Unit Cost Curves Refer to the graph above. The curves are not labeled. To help get this question right, you must first label the curves. An output level of 18 is identified with the dark vertical line. The shaded rectangular area (height times width) is the O average sunk cost. O total sunk cost O total avoidable fed cost. O total avoidable cost. O None of the above
The profit of a company, in dollars, is the difference between the company's revenue and cost. The cost, C(x), and revenue, R(x), are functions for a particular company. The x represents the number of items produced and sold to distributors. C(x) = 2500 + 60x R(x) = 800x - x? a) Determine the maximum profit of the company. The maximum profit of the company is b) Determine the number of items that must be produced and sold to obtain the maximum profit. The number of items that must be produced and sold to obtain the maximum profit is
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