Find and Interpret

Question

The cost, in dollars, to produce x number of equipment is C(x) = 5x + 5000, x ≥ 0 and
the price-demand function, in dollars per equipment, is p(x) = 7.50, 0 ≤ x.
C(x) denotes the cost to produce x items and p(x) denotes the price-demand function in the given economic scenario.

Please answer the following:
a) Find and interpret C(0).
b) Find and interpret C(10).
c) Find and interpret p(5)
d) Find R(x).
e) Find and simplify P(x).
f) Solve P(x) = 0 and interpret.
10)

Answer 1

a. C(0) = 5(0) + 5000 = 5000

 

b. C(10) = 5(10) + 5000 = 50 + 5000 = 5050

 

c. p(5) = 7.50 in dollars per equipment.

 

d. R(x) was not given.

 

e. P(x) is already simplified.

 

f. further info of the cost demand function may be of use.