Math Problem Statement
The figure shows graphs of the total costs and the total revenue functions for a commodity. (Assume cost and revenue are measured in dollars.) R-C Match the question with the correct answer.
Determine the fixed cost. a. Total revenue function
Determine the dollars for break-even. b. 40 units
Estimate the marginal revenue. c. 7.5
Label function B d. 2.5
Label function A e. $300
Estimate the marginal cost. f. Total cost function
Determine the number of units to break-even. g. $200
Solution
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Math Problem Analysis
Mathematical Concepts
Cost Analysis
Revenue Analysis
Break-even Point
Marginal Cost
Marginal Revenue
Formulas
Break-even Point: Total Revenue = Total Cost
Marginal Cost: MC = ΔTotal Cost / ΔQuantity
Marginal Revenue: MR = ΔTotal Revenue / ΔQuantity
Theorems
Break-even Analysis
Marginal Cost and Revenue
Suitable Grade Level
Grades 10-12
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