Homework Help: algebra

Posted by tracy on Saturday, July 10, 2010 at 7:04pm.

We did not find results for: suppose a company manufactures MP3 players and sell them to retailers for $98 each. it has a fixed cost of $262,500 related to the production of the MP3 players and the cost per unit is $23 what is the total revenue function, marginal revenue for this product, total cost for this product, what is the profit function, what is the marginal profit, what is the cost revenue and profit if 0 units are produced..

algebra - Casey, Saturday, July 10, 2010 at 8:07pm
Well if 0 units are produced, your profit is a loss of 262,500 which is primarily your fixed cost.

Total revenue function is 98x. X is the number of units sold.

I think marginal revenue is just revenues minus variable cost so 98x-23y would be marginal revenue. I might be wrong so double check with someone else.

Total cost for the product is 23y + 262,500.

The total profit function is 98x-23x-262,500. X is units sold. They may want you to express x as y though so it might be 98x-23y-262,500.

Let me know if this helps. Good luck

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