Cost and Revenue: A firm cost function of c(x)=x^3-25x^2-200x+7500...

[HB09]

I almost ALMOST Done my class! My Brain is Fried! I have done similar questions to these but in a simpler format can anyone help me with formula or steps to get where I need to be!

A firm cost function of c(x)=x^3-25x^2-200x+7500. Find min cost and production level it occurs at. ( I have done this but in simpler form)

The revenue for a mod chair is R(x)=2000x+20x^2-x^3, x is in hundreds of units and R(x) is in hundreds of dollars.
determine sales level gives max value
what is the max revenue
what is the marginal revenue at a sales level of 300 units. intercept

Just need advice to kick my butt in gear!

 

[Deleted member 4993]

I almost ALMOST Done my class! My Brain is Fried! I have done similar questions to these but in a simpler format can anyone help me with formula or steps to get where I need to be!

A firm cost function of c(x)=x^3-25x^2-200x+7500. Find min cost and production level it occurs at. ( I have done this but in simpler form)

The revenue for a mod chair is R(x)=2000x+20x^2-x^3, x is in hundreds of units and R(x) is in hundreds of dollars.
determine sales level gives max value
what is the max revenue
what is the marginal revenue at a sales level of 300 units. intercept

Just need advice to kick my butt in gear!

What is dc(x)/dx?

What are the roots of dc/dx function?

 

[stapel]

A firm cost function of c(x)=x^3-25x^2-200x+7500.

Is this meant to say something like "A firm has a cost function of" (this) "for" (some x defined later in the exercise)? If not, what is meant by this; in particular, what is "a firm cost function"?

Find min cost and production level it occurs at.

Max/min questions usually involve the derivative. Are you not supposed to be using derivatives, and that's why you're stuck? If so, what method are you supposed to be using?

The revenue for a mod chair is R(x)=2000x+20x^2-x^3, x is in hundreds of units and R(x) is in hundreds of dollars.
determine sales level gives max value

Is the last line above meant to say something like "Determine the sales volume, in hundreds of units, which maximizes the revenue"? If not, what does this line mean? If so, what method are you supposed to be using?

what is the max revenue
what is the marginal revenue at a sales level of 300 units. intercept

I can't think of any time I've seen "marginal revenue" (or marginal anything, really) that didn't involve taking derivatives. What method are you supposed to be using? If derivatives, why are you not able to start? If not derivatives, what method are you supposed to be using?

Please be complete. Thank you!

 

[HB09]

Is this meant to say something like "A firm has a cost function of" (this) "for" (some x defined later in the exercise)? If not, what is meant by this; in particular, what is "a firm cost function"?


Max/min questions usually involve the derivative. Are you not supposed to be using derivatives, and that's why you're stuck? If so, what method are you supposed to be using?


Is the last line above meant to say something like "Determine the sales volume, in hundreds of units, which maximizes the revenue"? If not, what does this line mean? If so, what method are you supposed to be using?


I can't think of any time I've seen "marginal revenue" (or marginal anything, really) that didn't involve taking derivatives. What method are you supposed to be using? If derivatives, why are you not able to start? If not derivatives, what method are you supposed to be using?

Please be complete. Thank you!

A firm has a total cost function of C(x)=x^3-25x^2-200x+7500. Find the minimum cost and the production level it occurs at.
The revenue for a mod chair is R(x)=2000x+20x^2-x^3, where x is in hundreds of units and R(x) is in hundreds of dollars
a. Determine what sales level gives max value
b. What is the Maximum revenue?
c. What is the marginal revenue at a sales level of 3000 units. Interpret.

Sorry I was not clear. We have been using derivatives .. However not like this and I am confused!

 

[JeffM]

A firm has a total cost function of C(x)=x^3-25x^2-200x+7500. Find the minimum cost and the production level it occurs at.
The revenue for a mod chair is R(x)=2000x+20x^2-x^3, where x is in hundreds of units and R(x) is in hundreds of dollars
a. Determine what sales level gives max value
b. What is the Maximum revenue?
c. What is the marginal revenue at a sales level of 3000 units. Interpret.

Sorry I was not clear. We have been using derivatives .. However not like this and I am confused!

You need to put the formulas you have learned for derivatives together.

\(\displaystyle g(x) = j(x) + k(x) \implies g'(x) = what?\)

\(\displaystyle u(y) = d * v(y) \implies u'(y) = what?\)

\(\displaystyle p(z) = z^n \implies p'(z) = what?\)

\(\displaystyle a(w) = c \implies a'(w) = what?\)

\(\displaystyle r(s) = cs \implies r'(s) = what?\)

Now put all those formulas together to solve

\(\displaystyle c(x) = x^3 - 25x^2 - 200x + 7500 \implies c'(x) = what \implies c''(x) = what?\)

 

[HB09]

You need to put the formulas you have learned for derivatives together.

\(\displaystyle g(x) = j(x) + k(x) \implies g'(x) = what?\)

\(\displaystyle u(y) = d * v(y) \implies u'(y) = what?\)

\(\displaystyle p(z) = z^n \implies p'(z) = what?\)

\(\displaystyle a(w) = c \implies a'(w) = what?\)

\(\displaystyle r(s) = cs \implies r'(s) = what?\)

Now put all those formulas together to solve

\(\displaystyle c(x) = x^3 - 25x^2 - 200x + 7500 \implies c'(x) = what \implies c''(x) = what?\)

I could cry! I still dont understand LOL! I have a A in this class and have really been doing well but suddenly I just cant understand this! Maybe I just am over it. Its my last week and this is suppose to be a review!

 

[JeffM]

I could cry! I still dont understand LOL! I have a A in this class and have really been doing well but suddenly I just cant understand this! Maybe I just am over it. Its my last week and this is suppose to be a review!

You are panicking

\(\displaystyle c(x) = x^3 - 25x^2 - 200x + 7500 \implies c'(x) = 3x^2 - 50x - 200 \implies g''(x) = 6x - 50.\)

I got that by following the formulas I mentioned in my previous post. Do you see how? Work on it a bit.

Where does \(\displaystyle 3x^2 - 50x - 200 = 0?\)

At which of those is the second derivative positive? What is the meaning of the second derivative being positive?

 

[stapel]

I could cry! I still dont understand LOL! I have a A in this class and have really been doing well but suddenly I just cant understand this! Maybe I just am over it. Its my last week and this is suppose to be a review!

Okay; it appears that you don't recognize the basic derivative formulas. Could you maybe post an example of an exercise which you have been able to do? (Since you've done all the earlier ones, you've got loads from which to choose.) Maybe if we can see an exercise of this type that you can do, we can start to figure out what is different about this one.

Thank you!

 

[HB09]

Okay; it appears that you don't recognize the basic derivative formulas. Could you maybe post an example of an exercise which you have been able to do? (Since you've done all the earlier ones, you've got loads from which to choose.) Maybe if we can see an exercise of this type that you can do, we can start to figure out what is different about this one.

Thank you!

n

 

[stapel]

https://bbl.westfield.ma.edu/bbcswebdav/pid-686404-dt-content-rid-2173811_1/courses/wsu_MATH0115501_2017summer2/wk10hw11.png

Okay; we can't access your school's password-protected content. Please reply with the typed-out text of an exercise of this thread's type which you were able easily to complete. Thank you!