Advertisements
Advertisements
Question
The cost of an overhaul of an engine is ₹ 10,000 The operating cost per hour is at the rate of 2x – 240 where the engine has run x km. Find out the total cost if the engine runs for 300 hours after overhaul
Advertisements
Solution
Given that the overhaul cost is ₹ 10,000.
The marginal cost is 2x – 240
MC = 2x – 240
C = `int "MC" "d"x + "k"`
C = x2 – 240x + k
k is the overhaul cost
⇒ k = 10,000
So C = x2 – 240x + 10,000
When x = 300 hours, total cost is
C = (300)2 – 240(300) + 10,000
⇒ C = 90,000 – 72000 + 10,000
⇒ C = 28,000
So the total cost of the engine run for 300 hours after the overhaul is ₹ 28,000.
APPEARS IN
RELATED QUESTIONS
An account fetches interest at the rate of 5% per annum compounded continuously. An individual deposits ₹ 1,000 each year in his account. How much will be in the account after 5 years. (e0.25 = 1.284)
Determine the cost of producing 200 air conditioners if the marginal cost (is per unit) is C'(x) = `x^2/200 + 4`
If the marginal revenue function for a commodity is MR = 9 – 4x2. Find the demand function.
The marginal cost of production of a firm is given by C'(x) = 5 + 0.13x, the marginal revenue is given by R'(x) = 18 and the fixed cost is ₹ 120. Find the profit function
Under perfect competition for a commodity the demand and supply laws are Pd = `8/(x + 1) - 2` and Ps = `(x + 3)/2` respectively. Find the consumer’s and producer’s surplus
The demand equation for a products is x = `sqrt(100 - "p")` and the supply equation is x = `"P"/2 - 10`. Determine the consumer’s surplus and producer’s surplus, under market equilibrium
Choose the correct alternative:
The demand function for the marginal function MR = 100 – 9x2 is
The marginal revenue function for a firm given by MR = `2/(x + 3) - (2x)/(x + 3)^2 + 5`. Show that the demand function is P = `(2x)/(x + 3)^2 + 5`
For the marginal revenue function MR = 6 – 3x2 – x3, Find the revenue function and demand function
The marginal cost of production of a firm is given by C'(x) = `20 + x/20` the marginal revenue is given by R’(x) = 30 and the fixed cost is ₹ 100. Find the profit function
