I think this is how you do it.
Answer:
162.1%
Step-by-step explanation:
Given that:
Size of previous living space = 1450 sq ft
Size of new living space = 3800 sq ft
% increase in living space ;
Increase in living space = 3800 - 1450 = 2350 sq feet
(Increase / previous size) * 100%
(2350 / 1450) * 100%
1.6206 * 100%
= 162.06%
= 162.1%
Answer:
(a)Revenue function,
Marginal Revenue function, R'(x)=580-2x
(b)Fixed cost =900
.
Marginal Cost Function=300+50x
(c)Profit,
(d)x=4
Step-by-step explanation:
<u>Part A
</u>
Price Function
The revenue function
The marginal revenue function
<u>Part B
</u>
<u>(Fixed Cost)</u>
The total cost function of the company is given by
We expand the expression
Therefore, the fixed cost is 900
.
<u>
Marginal Cost Function</u>
If
Marginal Cost Function,
<u>Part C
</u>
<u>Profit Function
</u>
Profit=Revenue -Total cost
<u>
Part D
</u>
To maximize profit, we find the derivative of the profit function, equate it to zero and solve for x.
The number of cakes that maximizes profit is 4.