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AutoTime, a manufacturer of electronic digital timers, has a monthly fixed cost of $50,000 and a production cost of $7 for each timer manufactured. The timers sell for $15 each. (a) What is the cost function C(x)? C(x) =     (b) What is the revenue function R(x)? R(x) =     (c) What is the profit function P(x)? P(x) =     (d) Compute the profit (loss) corresponding to production levels of 3000, 6000, and 11,000 timers, respectively. (Input a negative value to indicate a loss.) 3000 timers     $ 6000 timers     $ 11,000 timers     $

AutoTime, a manufacturer of electronic digital timers, has a monthly fixed cost of $50,000 and a production cost of $7 for each timer manufactured. The timers sell for $15 each. (a) What is the cost function C(x)? C(x) =     (b) What is the revenue function R(x)? R(x) =     (c) What is the profit function P(x)? P(x) =     (d) Compute the profit (loss) corresponding to production levels of 3000, 6000, and 11,000 timers, respectively. (Input a negative value to indicate a loss.) 3000 timers     $ 6000 timers     $ 11,000 timers     $

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter8: Evolutionary Solver: An Alternative Optimization Procedure
Section8.6: Fitting An S-shaped Curve
Problem 9P
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AutoTime, a manufacturer of electronic digital timers, has a monthly fixed cost of $50,000 and a production cost of $7 for each timer manufactured. The timers sell for $15 each.

(a) What is the cost function C(x)?
C(x) =
 
 


(b) What is the revenue function R(x)?
R(x) =
 
 


(c) What is the profit function P(x)?
P(x) =
 
 


(d) Compute the profit (loss) corresponding to production levels of 3000, 6000, and 11,000 timers, respectively. (Input a negative value to indicate a loss.)
3000 timers     $
6000 timers     $
11,000 timers     $
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