Math Problem Statement
A manufacturer sets up a manufacturing unit involving fixed cost of Rs 1,45,000 and the variable cost for producing each unit is 250 Rs.Each unit can be sold at Rs 750.Determine i) Cost function ii)Average Cost Function iii)Revenue Function iv) Average Revenue Function v)Profit Function .
Solution
Ask a new question for Free
By Image
Drop file here or Click Here to upload
Math Problem Analysis
Mathematical Concepts
Cost functions
Average cost
Revenue functions
Profit functions
Formulas
Cost Function: C(x) = 1,45,000 + 250x
Average Cost Function: AC(x) = (1,45,000 / x) + 250
Revenue Function: R(x) = 750x
Average Revenue Function: AR(x) = 750
Profit Function: P(x) = 500x - 1,45,000
Theorems
-
Suitable Grade Level
College
Related Recommendation
Understanding Cost, Revenue, and Profit Functions in Manufacturing
Analysis of Cost, Revenue, and Profit Functions in Manufacturing
Understanding Profit and Average Cost Functions in Business Analysis
Linear Cost, Revenue, and Profit Functions: Calculate Profit for 99 Items
Solving Profit, Investment, Sales Allocation, and Revenue Problems