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10 Nov 2019
Solve the problems below that pertain to the profit from the sale of items. Marketing tells you that if you set the price of an item at $10 then you will be unable to sell it, but that you can sell 540 items for each dollar below $10 that you set the price. Suppose your fixed costs total S4000, and your marginal cost is $2 per item. What is the most profit you can make? $ when the price is $ .How are your answers to the problem affected if the cost per item for the x items, instead of being simply $2, decreases below $2 in proportion to x (because of economy of scale and volume discounts) by 1 cent for each 27 items produced? $ when the price is $ A manufacturer can produce any number of buttons at a cost of two cents per button and can sell x buttons at a price of cents per button. How many buttons should be produced for maximum profit? buttons
Solve the problems below that pertain to the profit from the sale of items. Marketing tells you that if you set the price of an item at $10 then you will be unable to sell it, but that you can sell 540 items for each dollar below $10 that you set the price. Suppose your fixed costs total S4000, and your marginal cost is $2 per item. What is the most profit you can make? $ when the price is $ .How are your answers to the problem affected if the cost per item for the x items, instead of being simply $2, decreases below $2 in proportion to x (because of economy of scale and volume discounts) by 1 cent for each 27 items produced? $ when the price is $ A manufacturer can produce any number of buttons at a cost of two cents per button and can sell x buttons at a price of cents per button. How many buttons should be produced for maximum profit? buttons