Cost-revenue and profit functions

Reference no: EM13120490

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)

Reference no: EM13120490

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