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

Question

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 $200 53.00$
$250 52.50$
$300 52.00$
$35051.50$

(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, $C = 35 N + 900$ , 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 $p =$ ?

Answer 1

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, $p = p_{1} = \frac{(p_{2} - p_{1})}{N_{2} - N_{1}} (N - N_{1})$
$p - 53.00 = \frac{(52.50 - 53.00)}{250 - 200} (N - 200)$
$p - 53 = \frac{- 0.50}{50} (N - 200)$
$p - 53 = - 0.01 N + 2$
$p = - 0.01 N + 55$ Thus, the equation $p = - 0.01 N + 55.$

(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. $R = (- 0.01 N + 55) N$
$= - 0.01 N^{2} + 55 N$ Thus, the formula is $R = - 0.01 N^{2} + 55 N .$ Here, R is not the linear function of N.

(c) The formula for the monthly profit is, $P = - 0.01 N^{2} + 55 N - 35 N - 900$
$= - 0.01 N^{2} + 20 N - 900$ Here, P is not the linear function of N.

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

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