A company that makes thing-a-ma-bobs has a start up cost of $ 1399. It costs the company $ 1.87 to make each thing-a-ma-bob. The company charges $ 5.89 for each thing-a-ma-bob. Let x denote the number of thing-a-ma-bobs produced.
1. Write the cost function for this company. C(x) =2052
work-1399+(1.87*349)
2. Write the revenue function for this company. R(x) =2056
work- 5.89*349
3. What is the minumum number of thing-a-ma-bobs that the company must produce and sell to make a profit? = 349
I got part 3 right but no part 1&2 what did i do wrong?
1. 1399 + 1.87x
2. 5.89x
3. 589x - (1399 + 1.87x) > 0
You did not follow the last sentence of the instructions.
I hope this helps. Thanks for asking.
In order to determine what went wrong with parts 1 and 2, let's review the problem carefully.
Problem statement:
- Start-up cost: $1399
- Cost to make each thing-a-ma-bob: $1.87
- Price charged for each thing-a-ma-bob: $5.89
- Number of thing-a-ma-bobs produced: x
1. Cost Function:
To find the cost function, you need to consider the fixed start-up cost plus the variable manufacturing cost for x thing-a-ma-bobs. The correct cost function is:
C(x) = 1399 + (1.87 * x)
2. Revenue Function:
The revenue function is determined by multiplying the price charged for each thing-a-ma-bob by the number of thing-a-ma-bobs produced, which gives:
R(x) = 5.89 * x
3. Minimum Number of Thing-a-ma-bobs for Profit:
To find the minimum number of thing-a-ma-bobs required to make a profit, you need to set the cost equal to the revenue and solve for x. The equation becomes:
1399 + (1.87 * x) = 5.89 * x
To solve this equation, subtract 1.87x from both sides and rearrange the terms:
4.02x = 1399
Now, divide both sides by 4.02:
x = 349
Thus, the minimum number of thing-a-ma-bobs that the company must produce and sell to make a profit is indeed 349. You got this part correct.
So, in summary, it seems that there was an error while calculating the cost function (part 1) and the revenue function (part 2). Please double-check your calculations and ensure that you have used the correct values for the respective variables.