Let's say the widget maker has developed the following table that shows the highest dollar price p.widget where you can sell N

iohanetc 2021-03-11 Answered

Let's say the widget maker has developed the following table that shows the highest dollar price p. widget where you can sell N widgets. Number N Price p 20053.00
25052.50
30052.00
35051.50

(a) Find a formula for pin terms of N modeling the data in the table.

(b) Use a formula to express the total monthly revenue R, in dollars, of this manufacturer in month as a function of the number N of widgets produced in a month. R= Is Ra linear function of N?

(c) On the basis of the tables in this exercise and using cost, C=35N+900, use a formula to express the monthly profit P, in dollars, of this manufacturer asa function of the number of widgets produced in a month p= ?

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Expert Answer

Gennenzip
Answered 2021-03-12 Author has 96 answers

As per bartleby guidelines for the more than 3 subparts only first three are to be answered please upload the others separately.

(a) Consider the two points from table (a) as (200 53.00) and (250 52.50). Then, the equation is, p=p1=(p2p1)N2N1(NN1)
p53.00=(52.5053.00)250200(N200)
p53=0.5050(N200)
p53=0.01N+2
p=0.01N+55 Thus, the equation p=0.01N+55.

(b) Consider the formula to express the total monthly revenue R, in dollars, of this manufacturer in a month as a function of the number N of widgets produced in a month. R=(0.01N+55)N
=0.01N2+55N Thus, the formula is R=0.01N2+55N. Here, R is not the linear function of N.

(c) The formula for the monthly profit is, P=0.01N2+55N35N900
=0.01N2+20N900 Here, P is not the linear function of N.

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