1. a) A company sells its product for $35 per unit. If it costs $15 to manufacture each unit and fixed costs are $12000. Find the break-even point.
b) Write the profit function as a linear function.
2) Suppose a cost function is given by 0.01q3-2q2+500q+30.
a) Find the marginal cost and evaluate at q=10.
b) Find the average cost and evaluate at q=10.
I am completely stuck!
b) Write the profit function as a linear function.
2) Suppose a cost function is given by 0.01q3-2q2+500q+30.
a) Find the marginal cost and evaluate at q=10.
b) Find the average cost and evaluate at q=10.
I am completely stuck!