Malcolm bought dog-food bowls to give away as prizes at a dog-lovers event. The plastic bowls cost $6 each and the stainless ste
2 answers:
Alright! In order to solve this problem we first have to find out how much he spend on plastic bowls. To do that we multiply the amount of plastic bowls he bought by the price:
7$ x 6 = $42
Then we subtract this value from our total price:
136.50 - 42 = 94.50 (This is how much he spend on steel bowls)
Then we divide this value by the price of the steel bowls:
= 9!
He bought 9 stainless steel bowls.
7$ x 6 = $42
Then we subtract this value from our total price:
136.50 - 42 = 94.50 (This is how much he spend on steel bowls)
Then we divide this value by the price of the steel bowls:
He bought 9 stainless steel bowls.
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Answer:
The total revenue is .
The marginal revenue is .
The fixed cost is $900.
The marginal cost function is .
Step-by-step explanation:
The Total Revenue () received from the sale of
goods at price
is given by
The Marginal Revenue () is the derivative of total revenue with respect to demand and is given by
From the information given we know that the price they can sell cakes is given by the function , where
is the number of cakes sold per day.
So, the total revenue is
And the marginal revenue is
The Fixed Cost () is the amount of money you have to spend regardless of how many items you produce.
The Marginal Cost () function is the derivative of the cost function and is given by
We know that the total cost function of the company is given by , which it is equal to
From the total cost function and applying the definition of fixed cost, the fixed cost is $900.
And the marginal cost function is