Ask Question
BusinessBusiness
20 July, 21:54

A company distributes college logo sweatshirts and sells them for $55 each. The total cost function is linear, and the total cost for 50 sweatshirts is $4346, whereas the total cost for 240 sweatshirts is $7576. (a) Write the equation for the revenue function R (x).

+5
Answers (1)
  1. 20 July, 23:36
    0
    The revenue equation is TR=55*P

    Total cost equation is TC=3496+17Q

    Explanation:

    The formula for revenue is given quantity multiplied by price

    TR=PQ

    P is the price per unit ]

    Q is the total quantity

    since P is $55

    TR=55P

    The total cost function can also be determined thus:

    TC = a+bQ

    where a is the fixed cost

    b is variable cost per unit

    Q is the number of output

    when TC is $4346, Q was 50

    when TC was $7576 Q was 240

    7576=a+240b

    4346=a+50b

    subtracting the two equations

    3230 = 190b

    b=3230/190

    b=$17

    by substituting b in any of the equations, fixed cost can be determined

    4346=a + (17*50)

    4346=a+850

    a=4346-850

    a=3496

    Total cost function

    TC=3496+17Q
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “A company distributes college logo sweatshirts and sells them for $55 each. The total cost function is linear, and the total cost for 50 ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Although scott, an african american, was more qualified than bernardo, a hispanic american, bernardo was hired instead of scott because the owner believed that hispanic americans are better workers than african americans.
Answers (1)
What is an advantage of an adjustable-rate mortgage? A borrower always knows how much to pay the bank each month. A borrower can purchase a home with little financial risk. A drop in interest rates may result in lower monthly payments.
Answers (2)
The Internet is an example of a. electronic media. c. print media. b. wire services. d. public broadcasting.
Answers (1)
Rogers Corporation is preparing its cash budget for July. The budgeted beginning cash balance is $25,000. Budgeted cash receipts total $141,000 and budgeted cash disbursements total $139,000. The desired ending cash balance is $30,000.
Answers (1)
Zimmer-centerpulse is the world's largest producer of replacement hips and knees for orthopedic surgery. they are particularly interested in marketing in the southwestern united states, where a large aging population lives.
Answers (1)
New Questions in Business
Direct comments taken from another author do not have to be paraphrased
Answers (1)
No Child Left Behind legislation is the current reauthorization of the Elementary and Secondary Education Act of 1965. True False
Answers (2)
Harry's Hotdogs is a small street vendor business owned by Harry Huggins. Harry is trying to get a better understanding of his costs by categorizing them as fixed or variable.
Answers (1)
A registered representative opens a new account for a customer by telephone and receives an order to sell 300 shares of ABC at the market.
Answers (1)
Brian brewster sold property to a buyer who paid him $400,000 cash and assumed an existing mortgage of $150,000
Answers (1)
Home » Business » A company distributes college logo sweatshirts and sells them for $55 each. The total cost function is linear, and the total cost for 50 sweatshirts is $4346, whereas the total cost for 240 sweatshirts is $7576.
Sign Up Forgot Password?