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Unformatted text preview: MAC2233 Quest 2 Prof. Siegel Fall 2011 Group members: ________________________________________________________________ Quest #2 Score: ________ / 135 Due Tuesday, November 22, 2011 Directions: Show all work for full credit. This assignment should be done in groups of 2 to 4 students. No assignment will be accepted from one student or more than 4 students. No assignment will be accepted after the due date for any reason. If you are not in class the day this assignment is due, it is your responsibility to get it to my office before the start of class or have a group member hand it in for you. One quest assignment should be handed in per group. Please show all work on this assignment. If you run out of room, you should attach additional sheets as necessary. All work should be legible and easy to follow. If I cannot read your work, I cannot grade it. 1) The Siegel Sales Seminar Service sells sales manuals for generating wealth from home. The price- demand equation for the manuals is p x 700 000 , 14 , where x is the number of manuals demanded for a price of $p per manual. The cost to the company for producing and selling the manuals is x x C 4 000 , 8 ) ( , where $8000 represents the estimated fixed costs and $4 is the estimated variable costs to produce and sell each manual. a) (2 pts.) Solve for p in the price-demand equation and find the domain of p. State the domain in interval notation. p = ____________________ Domain of p: ________________ b) (3 pts.) Find the marginal cost function and interpret its meaning. C(x) = ____________________ Meaning: c) (2 pts.) Find the revenue function R(x) and its domain. State the domain in interval notation. R(x) = ____________________ Domain of R(x): ________________ d) (4 pts.) Find the marginal revenue for 1000 manuals and 3000 manuals. Interpret the meaning of each....
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This note was uploaded on 09/25/2011 for the course MAC 2233 taught by Professor Staff during the Spring '10 term at Broward College.
- Spring '10