IDNLearn.com: Your one-stop destination for reliable answers to diverse questions. Ask anything and receive prompt, well-informed answers from our community of knowledgeable experts.
Sagot :
The revenue function in terms of q will be 200q - 3q².
How to calculate the revenue?
The following can be deduced based on the information given:
P(q) = 200 - 3q
C(q) = 75 + 80q - q²
The revenue function in terms of q will be:
= Price × Quantity
= (200 - 3q) × q
= 200q - 3q²
The profit will be:
= Total revenue - Total cost
= (200q - 3q²) - (75 + 80q - q²)
= 200q - 3q² - 75 + 80q + q²
= -2q² + 280q - 75
= 2q² - 280q + 75
The average cost function will be:
= Total cost / Quantity
= (75 + 80q - q²) / q
= 75/q + 80 - q
The marginal cost will be 80 - 2q.
The marginal revenue will be 200 - 6q.
The marginal cost when q = 20 will be:
= 80 - 2q
= 80 - 2(20)
= 80 - 40
= 40
The marginal revenue when q = 20 will be:
= 200 - 6q
= 200 - 6(20)
= 200 - 120
= 80
The company should decrease production from 20 units in order to gain more profit.
The production level that gives the largest profit for the company will be gotten by finding the second derivative for the profit function as illustrated in the question. The profit function is 2q² - 280q. Then the production level will be 4.
Learn more about revenue on:
brainly.com/question/25623677
#SPJ1
We appreciate your contributions to this forum. Don't forget to check back for the latest answers. Keep asking, answering, and sharing useful information. Discover insightful answers at IDNLearn.com. We appreciate your visit and look forward to assisting you again.