Suppose the manufacturer of widgets has developed the following table showing the highest price p, in dollars, of a widget at which N widgets can be s

Joni Kenny 2021-03-05 Answered
Suppose the manufacturer of widgets has developed the following table showing the highest price p, in dollars, of a widget at which N widgets can be sold.
Number NPrice p20053.0025052.5030052.0035051.50
(a) Find a formula for p in terms of N modeling the data in the table.
p=
(b) Use a 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=
Is R a 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 as a function of the number of widgets produced in a month.
P=
(d) Is P a linear function of N?
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Expert Answer

Alannej
Answered 2021-03-06 Author has 104 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,
pp1=p2p1N2N1(NN1)
p53.00=52.5053.00250200(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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