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Mathematics, 12.12.2020 16:00 Tripz3005
A demand function for certain products is q= 300p+ 10,000. the fixed expenses are $500,000 and the variable expenses are 2$ per item product.
a. express the expense functions of term of q
b. if the price is set at 20, what quantity will be demanded.
c. if q= 1000 widgets, find E, the cost (expense) of producing them
d. Use substitution to the expense function in terms of p
e. if the price is set at p= $15, how much will it cost to produce the correct number of widgets.
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