Suppose a small bicycle manufacturer makes cheap bikes that sell for 180$ each. The total cost of producing x bikes (in $) is given by c(x)=6000+240x-0.8x^2, where x is up to 200 bikes.

a. Write down the revenue function.
b. Graph the cost and revenue functions on suitable scales, for x from 0 to 200.
c. Find the break even point: the number of units (to the nearest whole number) which need to be produced for the revenue=cost. Use algebra.
d. Find the profit function p(x), and use this to find the number of units which produces the maximum profit. (hint: the marginal profit might help)

Solution Summary

The solution shows how to find the cost, revenue, and profit functions for the bicycle manufacturer. It also shows how to find the break even point and maximize the profit.

You are given two points representing the number of items sold at a particular price. From these two points, a linear demand function is constructed. You are also given information on the cost of each item so that you can construct a cost function. From the demand function you can form a revenue function and finally the profi

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Please help with the following solution regarding production and maximum provide. Provide step by step calculations in the completed solution.
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I hope you ll can help I just don't understand this.
I have attached the problems.
Revenue andProfit Maximization Under Oligopoly
An oligopolist, the Bramwell Corporation has estimated its demand function and total cost functions to be as follows:
Q = 25 - 0.05P
TC = 700 + 200Q
Answer the following questi

Profit Maximization
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Demand Relative Frequency Revenue Cost
0 .35 0 0
1 .25 40

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