A company has cost function C(q) = 4000+2q dollars and revenue function R(q) = 10q
Chapter 1, Problem 18(choose chapter or problem)
A company has cost function C(q) = 4000+2q dollars and revenue function R(q) = 10q dollars. (a) What are the fixed costs for the company? (b) What is the marginal cost? (c) What price is the company charging for its product? (d) Graph C(q) and R(q) on the same axes and label the break-even point, q0. Explain how you know the company makes a profit if the quantity produced is greater than q0. (e) Find the break-even point q0. 1
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