Showing your analytical work clearly in a step by step manner is a must. Otherwise points will be deducted. You can use Excel or any other graphing tool. A startup software company has indicated its cost, c(x), and revenue, f(x), as given below, such that x is the number of lines of programing code (units in 1000 lines). c(x) = 80000 - 2(x-200)2 f(x) = (x-10)3 + (x+10)2 Find the marginal cost analytically, and draw its graph Find the marginal revenue analytically, and draw its graph Solve for the x point where marginal cost is equal to marginal revenue analytically. Comment why is this point significant analytically. Write the profit function and draw its graph Is the profit function concave up or concave down?
Showing your analytical work clearly in a step by step manner is a must. Otherwise points will be deducted. You can use Excel or any other graphing tool. A startup software company has indicated its cost, c(x), and revenue, f(x), as given below, such that x is the number of lines of programing code (units in 1000 lines). c(x) = 80000 - 2(x-200)2 f(x) = (x-10)3 + (x+10)2 Find the marginal cost analytically, and draw its graph Find the marginal revenue analytically, and draw its graph Solve for the x point where marginal cost is equal to marginal revenue analytically. Comment why is this point significant analytically. Write the profit function and draw its graph Is the profit function concave up or concave down?
Chapter8: Production And Costs
Section8.4: Costs Of Production: Total, Average, Marginal
Problem 1ST
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Showing your analytical work clearly in a step by step manner is a must. Otherwise points will be deducted. You can use Excel or any other graphing tool.
A startup software company has indicated its cost, c(x), and revenue, f(x), as given below, such that x is the number of lines of programing code (units in 1000 lines).
c(x) = 80000 - 2(x-200)2
f(x) = (x-10)3 + (x+10)2
- Find the marginal cost analytically, and draw its graph
- Find the marginal revenue analytically, and draw its graph
- Solve for the x point where marginal cost is equal to marginal revenue analytically. Comment why is this point significant analytically.
- Write the profit function and draw its graph
- Is the profit function concave up or concave down?
Answer all questions neatly please
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