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Category > Calculus Posted 31 May 2017 My Price 7.00

bakery

You are newly appointed as a consultant in a bakery. Acting as a consultant you have estimated the demand curve of a client's firm to be AR = 400 - 16x where AR is average revenue (in rupees) and x is output. Investigation of the client firm's cost profile shows that the marginal cost is given by: MC = 14x + 111 where MC is marginal cost (in rupees). Further investigation has shown that the firm's cost when no production are $100.

 

(a) Find equation of total cost.

(6 marks)

 

(b) If total revenue is average revenue multiplied by output, find the equation of total revenue.

(2 marks)

 

(c) Use the methods of differentiation, find the turning point(s) of the firm's profit curve and say whether these point(s) are maxima or minima.

(8marks)

 

(d) Find the break-even points of the bakery.

(4 marks)

Answers

SuperTutor
(15)
Status NEW Posted 31 May 2017 01:05 AM My Price 7.00

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