Q3. The management of a manufacturing company has the following information: Revenue function: R = 1500Q – 15Q2 Profit-maximizing price is OMR 900. a\ Using the above information, determine the following: i. Profit-maximizing quantity. ii. Revenue-maximizing quantity.
Q: The management of a manufacturing company has the following information: Revenue function: R = 1500Q…
A: Answer: Given, Revenue function: R=1500Q-15Q2 Profit maximizing price = OMR 900 (a). Calculation of…
Q: Given that the price in a competitive industry is 100 the firm's total equation is given as…
A: Answer - Need to find- Determine the firm's total stock revenue,the profit equation, the quantity…
Q: Given the total revenue and the total cost function in # 18, the corresponding marginal revenue is…
A: The firms, and businesses in the market tend to operate as sellers. These firms make various goods,…
Q: | 52. Break-even analysis. The price-demand equation and the cost function for the production of…
A: Total revenue is that the total receipts a seller can obtain from selling goods or services to…
Q: Product A and Product B are two different items manufactured by the same firm. Product A is…
A: Total revenue is the revenue that is generated by selling given units of a commodity. Total revenue…
Q: Consider the following diagram showing the cost and revenue conditions of a firm. Price (RM) 65 52…
A: Market is divided into 4 types on the basis of number of buyers and sellers, available of…
Q: Supply Function. A review of industry-wide data for the jelly and jam manufacturing industry…
A: Q = - 59,000,000 + 500,000P - 125,000PL - 500,000PK + 2,000,000W
Q: Given , AR = 60- 3Q , i. Plot the average-revenue curve, and then find MR curve. ii. Find the…
A: Answer: Given: AR=60-3Q (1). The average revenue and marginal revenue curves are given below:…
Q: Question 1: Given the following cost function: TC = 1500 + 15Q – 6Q2 + Q3 i. Determine the total…
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…
Q: Consider a perfectly competitive firm in the following position: output = 4000, market price = $1,…
A: There are two possibilities to answer this question either option 'a' or option 'd' but we ensure…
Q: Given the following total revenue (TR) and total cost (TC) functions for a firm, write down the…
A: Answer: Profit = TR - TC At Q=20 the profit will be maximum.
Q: Demand and Supply equations of a particular market are as follows. Qd = 2100 – 7P Qs = – 1200 + 5P…
A: Given Qd = 2100 – 7PQs = – 1200 + 5P Where Qd is quantity demanded and Qs is quantity supplied, P…
Q: A firm produces two goods in pure competition and has the following total revenue and total cost…
A: Given: The total revenue function is TR = P1Q1 + P2Q2 The total cost function is TC = 2Q12 + Q1Q2…
Q: Given the following cost function: TC = 1500 + 15Q – 6Q2 + Q3 i. Determine the total fixed cost for…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: Suppose you can either make computer chips or smartphone chips. If you produce computer chips, you…
A: Explicit cost is the cost that appears in the companies general ledger that directly affects the…
Q: The Berber Corporation's total cost function is 200 9Q3Q2 МС - 9+6Q ТC where TC is the total cost in…
A: Burr Corp would select the point where Marginal Revenue (MR) is equal to Marginal cost (MC) to…
Q: PakPerfect Inc. estimates equation of its total costs of production as TC = 500 + 10Q + 5Q2 and…
A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…
Q: PakPerfect Inc. estimates equation of its total costs of production as TC = 500 + 10Q + 5Q2 and…
A: NOTE: Part 4 requires solving the 1st and 2nd part as well, therefore we'll solve just the third…
Q: Suppose that you are hired as business consultant for a company, and after collecting data you…
A: Advertisements are paid for by businesses to inform and influence the public regarding their…
Q: Nintendo, a leading manufacturer of video games is about to introduce four new games. The…
A: The factors of production are the elements employed in the production process by the enterprise in…
Q: Dalahla Company Limited, focusing on producing tooth paste (n units) has a demand function 4Q = 35 –…
A:
Q: Q.1. A financial department of a company has arrived at the following Cost and price function.…
A: R(x) = 189.6x - 10x2 C(x) = 312 + 39.4x Domain has 1 less than equal to x less than equal to 15
Q: How many of the following will occur with a linear total revenue curve? (i) A linear cost curve (ii)…
A: Total revenue refers to the value of all the goods and services sold in the market. The total…
Q: A. Identify the market structure the firm is operating in. Explain your choice. B. Determine the…
A: Since you have not mentioned which question you require an answer for, as per our standard procedure…
Q: The Berber Corporation's total cost function is 200 9Q + 3Q2 TC MC 9+6Q where TC is the total cost…
A: Solution - Given in the question -TC = 200 +9Q + 3Q2...............(1)MC = 9 + 6Q…
Q: Equilibrium Point Yaster Cookware is planning to introduce a new line of cast-iron pans. A marketing…
A: Given Demand and supply schedule: x p=D(x) p=S(x) 984 410 21 2140 220 77 2940 143 108…
Q: Consider a computer hardware production firm with total cost function TC = 2200+480Q+20Q, and market…
A: Since you have asked multiple part question, we will solve first three parts for you if you want…
Q: PakPerfect Inc. estimates equation of its total costs of production as TC = 500 + 10Q + 5Q2 and…
A:
Q: Can you help me with the Question D, E, and F? I would like check for the answer. So you don't have…
A: Monopolistic competition is a type of market structure that is characterized by the existence of a…
Q: Use for questions 1 - 3: The Burr Corporation's total cost function is TC 200 4Q +2Q2 МС %- 4+4Q АС…
A: The output level can be determine where AC equals MC. In a perfectly competitive market, MC will be…
Q: Q10. Given the supply and demand functions: P = 10 + 2Q, P = 30 – Q Which of these statements are…
A: Given; Demand function; P=30-Q Supply function; P=10+2Q At equilibrium;…
Q: 6. What is the output that maximize revenue for uie firm given the following demand function Q = 15…
A: The cost function is simply the initial cost plus the manufacturing cost Here we calculate the…
Q: Management has at its disposal the following information: Revenue function: R =890Q ‒5.5Q2 The…
A: Given Information: Revenue Function = 890Q-5.5Q2 Profit maximizing Price = 494 OMR
Q: Equilibrium Point Yaster Cookware is planning to introduce a new line of cast-iron pans. A marketing…
A: The price and demand have an inverse relation as per by the law of demand. Thus as the price…
Q: A producer faces a fixed cost of Rs. 50 and a variable cost Rs. 5 per unit of output when he…
A: A producer faces a fixed cost = Rs. 50 Variable cost = Rs. 5 per unit of output. Total cost= fixed…
Q: Acrosonic's production department estimates that the total cost (in dollars) Incurred in…
A: Given : C ( x) = 290 x + 18000 R (x) = - 0.04x2 + 800 x
Q: For the following total-revenue and total-cost functions of a firm: TR=22Q - 0.5Q2 TC= (1/3)Q3…
A: The profit is maximized where the marginal revenue (MR) is equal to the marginal cost (MC).
Q: A price-setting firm faces a demand curve described by the equation P = 100 - 5Q and its total…
A: TC = 12 + 30q MC = dTC/dQ = 30 P = 100 – 5q TR = P * q = (100 – 5q) * q = 100q – 5q2 MR = dTR/dQ =…
Q: ie demand function for a company is p = 200 - 31 and the cost function is given by C(z) U+ 80z - z.…
A:
Q: Management has at its disposal the following information: Revenue function: R =2400Q – 30Q? The…
A: Given, Revenue function R = 2400Q - 30Q2 Profit maximizing price P = 240 OMR To…
Q: Consider the following CES function 0-1 0-1 Y¢ = + (1 – a)L," The profit maximization problem is…
A: Production function : Yt = A (αKtσ-1σ + (1-α)Ltσ-1σ)σ-1σ Profit Function : Yt = RtKt - wt Lt We…
Q: oods in pure competition and has the following total revenue and total cost functions: TR = P1Q1 +…
A: Given: TR = P1Q1 + P2Q2 TC = 2Q12 + Q1Q2 +2Q22 Where, P1 = 12 and P2 = 18.
Q: What is the profit-maximizing output level for a company that has demand function Q = 220 - 4P and…
A: The answer is given below
Q: Management has at its disposal the following information : Demand ( price ) function : P = 600 -…
A: Marginal revenue can be defined as the incremental revenue generated when an additional unit of a…
Q: What is the value of the Lerner index for a company that has demand function Q = 220 - 4P and cost…
A: Learner's index is used to measure monopoly power. It shows how greater is price from its marginal…
Q3. The management of a manufacturing company has the following information:
Revenue function: R = 1500Q – 15Q2
Profit-maximizing
a\ Using the above information, determine the following:
i. Profit-maximizing quantity.
ii. Revenue-maximizing quantity.
b\ Calculate the maximum profit if the total cost is OMR 27550.
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
- A company has established that the relationship between the sales price for one of its products and the quantity sold per month is approximately p= 75 -0.10 (D is the demand or quantity sold per month and p is the price in doilars). The fbxed cost is $1.000 per month and the variable cost is $30 per unit produced. a. What is the maximum profit per month for this product? b. What is the range of profitable demand during a month? a. The maximum profit per month for this product is S (Round to the nearest dollar.) b. The range of profitable demand during a month is from units to units. (Round up the lower limit and down the upper limit to the nearest whole number.)A company produces and sells a consumer product and is able to control the demand for the product by varying the selling price. The approximate relationship between price and demand is p= 200-0.05D where p is the price per unit in dollars and D is the demand per month. The company is seeking to maximize its profit. The fixed cost is $15000 per month and the variable cost is $50 per unit. a. What is the number of units that should be produced and sold each month to maximize profit? b. What is the domain of profitable demand during a month? Show your spreadsheet.A local company is planning to manufacture and market a four-slice toaster. For this toaster, the research department’s estimates are aweekly demand of 300 toasters at a price of $25 per toaster and a weekly demand of 400 toasters at a price of $20. The financial department’s estimates are fixed weekly costs of$5,000 and variable costs of $5 per toaster. a) Assume that the relationship between price ? and demand ? is linear. Use the research department’s estimates to express ? as a function of ? and determine the domain of the function. b) Using your knowledge from Finite Math, determine the Revenue function in terms of ?. c) Determine the Marginal Revenue at 2 different production levels for example 250 and 500 units. Interpret these results. (HINT: Consider what a positive or negative first derivative implies) d) Assume that the cost function is linear. Use the financial department’s estimates to express the cost function interms of ?. e) Determinethe Marginal costand interpret the…
- Pixie Arts and Graphics, a medium scale printing press business has determined the equation that describes the relationship of the price and demand of one of its products as Price=150 - 0.01•D (D as Demand per unit) for an annual printing of this product. The fixed costs annually = P50,000 and the variable cost = P40 per unit. Requirement: a. What is the maximum profit that can be earned? b. What is the unit price at this point of optimal demand if demand is not to be anticipated to exceed more than 6,000 units annually? Hint: Profit (loss) = total revenue – total costs = (aD – bD²) – (Cf + CyD)10. Smart Phones, Inc. buys one model of smartphone, paying $2370 per case of 20 phones. Find the asking price for each assuming a 40% markup on cost.show calculations A wheat seed dealer has a cost function: C = 100 + 20Q +Q2. Inverse demand is: P = 620 -2Q. Maximum profit is: A. 38,400 B. 36,200 C. 39,200 D. 29,900 Handwritten solution not required correct answer will get instant upvote.
- A company has established that the relationship between the sales price for one of its products and the quantity sold per month is approximately p=85-0.2D (D is the demand or quantity sold per month and p is the price in dollars). The fixed cost is $1,500 per month and the variable cost is $20 per unit produced. a. What is the maximum profit per month for this product? b. What is the range of profitable demand during a month?A local newspaper currently has 84,000 subscribers at a quarterly charge of $30.Market research has suggested that if the owners raise the price to $32, they wouldlose 5,000 subscribers. Assuming that subscriptions are linearly related to theprice, what price should the newspaper charge for a quarterly subscription tomaximize their revenue?a) Find the cost function (Hint: find slope and use point-slope form to find thecost function) b) Find the revenue function c) Find the maximum revenue d) Find the profit functionThe following graph illustrates the weekly demand curve for motorized scooters in Roanoke. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per scooter) 260 240 220 200 180 160 140 120 100 80 60 40 20 0 0 9 18 27 A X B Demand 36 45 54 63 72 81 QUANTITY (Scooters) 90 99 108 117 Total Revenue ?
- Problem 1 A lash adjuster keeps the pressure constant on engine valves, increasing automobile engines' fuel efficiency. The relationship between price (p) and monthly demand (D) for lash adjusters made by the Wicks Company is given by this equation: D=(2,000-p)/0.10. 6 a) What is the demand (D) when total revenue is maximized? b) What important data are needed if maximum profit is desired? & 7 IAA fg 8 DII myhp np f10 DDI 9 fi Po 112 prt scA small factory produces a small toy with a fixed cost of S10,000month. If the factory manager wants to have a profit of $2 per unit, the revenue is $15unit and variable cost is $5/unit what is quantity to achieve this profit?A company estimates that the relationship between. unit price and demand per month for a potential new product is approximated by p= $100.00-$0.10D. The company can produce the product by increasing fixed costs $17,500 per month, and the estimated variable cost is $40.00 per unit. What is the demand that maximizes revenue and the maximum revenue? What is the optimal demand, D*, and based on this demand, should the company produce the new product? Why? (Work out the complete solution by differential calculus, starting with the formula for profit or loss per month.)