Cost Function

[chumaason]

A Company determines that the marginal cost of producing x units of a particular commodity during a one-day operation is MC = 16x −1951, where the production cost is in dollar. The selling price of a commodity is fixed at $9 per unit and the fixed cost is $1800 per day. (i) Find the cost function. (ii) Find the revenue function. (iii)Find the profit function. (iv) Find the maximum profit that can be obtained in a one-day operation.

 

[Deleted member 4993]

A Company determines that the marginal cost of producing x units of a particular commodity during a one-day operation is MC = 16x −1951, where the production cost is in dollar. The selling price of a commodity is fixed at $9 per unit and the fixed cost is $1800 per day. (i) Find the cost function. (ii) Find the revenue function. (iii)Find the profit function. (iv) Find the maximum profit that can be obtained in a one-day operation.

Please show us what you have tried and exactly where you are stuck.​

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[chumaason]

Please show us what you have tried and exactly where you are stuck.​

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Please follow the rules of posting in this forum, as enunciated at:​

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https://www.freemathhelp.com/forum/threads/read-before-posting.109846/#post-486520​

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Please share your work/thoughts about this assignment.​

I have was doing this but got stocked . MC=16X-1951
Cost function is Cx=MC+FC, =16x-1951+1800, thus Cx=16x-151

 

[chumaason]

Please show us what you have tried and exactly where you are stuck.​

​

Please follow the rules of posting in this forum, as enunciated at:​

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https://www.freemathhelp.com/forum/threads/read-before-posting.109846/#post-486520​

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Please share your work/thoughts about this assignment.​

The is what i have tried to do but got stock somehow

MC = 16X – 1951
Selling price = $9 and fixed cost is $1800.

• Cost function

C(x) = MC + FC
C(x) = 16X - 1951 + FC

 

[Steven G]

MC is the derivative of the cost function, C(X). You are given that MC = 16X-1951. So what is C(X)? Remember that whatever you conclude that C(X) equals, then its derivative better equal MC(X).