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The revenue and cost functions for producing and selling quantity x for a certain production facility are given below.
R(x) = 16x - x2
C(x) = 20 + 4x
a) Determine the profit function P(x).
b) Use Excel to graph the functions R(x), C(x) and P(x) for the interval 0≤ x ≤ 12. Copy and paste the graph below. Note: Use Scatter plot with smooth lines and markers.
c) Compute the break-even quantities.
d) Determine the average cost at the break-even quantities.
e) Determine the marginal revenue R'(x).
f) Determine the marginal cost C'(x)
g) At what quantity is the profit maximized?
1. Consider the following differential equation with initial conditions: t 2 x'' + 5 t x' + 3 x = 0, x(1) = 3, x'(1) = -13. Assume there is a solution of the form: x (t) = t
to which subset of the real number does the number 22 belong?
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