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Mathematics, 05.05.2020 06:51 shanice13
QUESTION 3 [10 MARKS] A bakery finds that the price they can sell cakes is given by the function p = 580 β 10x where x is the number of cakes sold per day, and p is price. The total cost function of the company is given by c = (30+5x) 2 where x is previously defined, and c is total cost. A. Find the revenue and marginal revenue functions [Hint: revenue is price multiplied by quantity i. E. Revenue = price Γ quantity] (3 marks) B. Find the fixed cost and marginal cost function [Hint: fixed cost does not change with quantity produced] (3 marks) C. Find the profit function [Hint: profit is revenue minus total cost] (2 marks) D. Find the quantity that maximizes profit (2 marks)
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QUESTION 3 [10 MARKS] A bakery finds that the price they can sell cakes is given by the function p =...
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