2 Consider For Certain Company The Total Cost Of Producing A Product Is Given By C X 2 8x2 4x 5 And The Reven 1 (29.81 KiB) Viewed 11 times
2 Consider For Certain Company The Total Cost Of Producing A Product Is Given By C X 2 8x2 4x 5 And The Reven 2 (29.81 KiB) Viewed 11 times
2. Consider for certain company the total cost of producing a product is given by C(x) = -2° +8x2 - 4x - 5 and the revenue function is given by R(x) = -x + 7x2. The demand function for this product in the market is given by D(x) = -2° + &r and the corresponding supply function is given by S(I) = 12-1. In this process, 0<< 15 and C.R. D and S are expressed in dollars. (a) What is the profit if 4 units of the product are sold? (b) How many units must be sold for the company to break even? Explain what happens if the company produces 4 units of the product? (e) Find the market oquilibrium point. Explain what will happen if the company decides to sell its product at $8 per unit, what happen if it sells at $2 per unit?
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