A small plant manufactures riding lawn mowers. The plant has fixed costs (leases, insurance, and so on) of $44,000 per day and variable costs (labor, materials, and so on) of $1,600 per unit produced. The mowers are sold for $2,000 each. The cost and revenue equations are shown below where x is the total number of mowers produced and sold each day, and the daily costs and revenue are in dollars. Complete parts (A) and y = 44,000 + 1,600x Cost equation Revenue equation (B). y = 2,000x

A small plant manufactures riding lawn mowers. The plant has fixed costs (leases, insurance, and so on) of $44,000 per day and variable costs (labor, materials, and so on) of $1,600 per unit produced. The mowers are sold for $2,000 each. The cost and revenue equations are shown below where x is the total number of mowers produced and sold each day, and the daily costs and revenue are in dollars. Complete parts (A) and y = 44,000 + 1,600x Cost equation Revenue equation (B). y = 2,000x

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 8SQP

See similar textbooks

Similar questions

A small plant manufactures riding lawn mowers. The plant has fixed costs (leases, insurance, and so on) of $24,000 per day and variable costs (labor, materials, and so on) of $1,200 per unit produced. The mowers are sold for $1,500 each. The cost and revenue equations are shown below where x is the total number of mowers produced and sold each day and the daily costs and revenue are in dollar y=24000 + 1200x Cost equation y= 1500x Revenue equation How many units must be manufactured and sold each day for the company to break even ?
A manufacturing company produces solar panels. The variable costs are $20 per unit and fixed costs are $10,875. The price demand relationship for this product is P=-0.25Q+ 250, where P is the unit sales price of the product and Q is the demand of solar panels. Given the following: • Total cost = Fixed cost + Variable cost • Revenue = Demand x Price • Profit = Revenue - Total cost 26. The equation that represent the total cost is: a. ($10,875+$20) Q b. $10,875-$20 Q c. $10,875 × $20 Q d. $10,875+$20 Q 27. The equation that represent the total revenue is: a. $0.25Q²+$250Q b. - $0.25Q²+$250Q c. - $0.25Q²-$250Q d. $0.25Q²-$250Q
A manufacturer of Chocolate has a fixed cost of Tk.60000 and variable cost is Tk.7 perproduced Chocolate. Selling price is Tk.10 per Chocolate.Requirement- At what number of units will break even occur and At what sales (revenue) volume will break occur?
The cost, in dollars, of producing x yards of a certain fabric is C(x) = 900 + 12x - 0.1x² +0.0005x³ and the company finds that if it sells x yards, it can charge p(x) = 27-0.00021x dollars per yard for the fabric. (a) Graph the cost and revenue functions. y 8000 6000 4000 2000 y 15 000 10 000 5000 R C 100 R =² C 100 200 200 300 300 X 400 400 X Use the graph to estimate the production level for maximum profit. 283.092 x yards y 15 000 10 000 5000 y 15 000 10 000 5000 R 100 R C 100 200 200 (b) Use calculus to find the production level for maximum profit. (Round your answer to two decimal places.) 186.63 yards 300 300 400 400 X