Question 1 a firm manufactures product x and can sell any, Ask an Expert

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Question: 1. A firm manufactures product x and can sell any amount at a price of £25 a unit. The firm has to pay fixed costs of £200 plus a marginal cost of £20 for each unit produced.

(a) How much of x must be produced to make a profit?

(b) If price is cut to £24 what happens to the break-even output?

2. If y = 16 + 22x and y = -2.5 + 30.8x, solve for x and y.

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Engineering Mathematics, Engineering

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