The cost function for Acme Laundry is C(q)=50+30q+q2, where q is tons of laundry cleaned. What q should the firm choose so as to maximize its profit if the market price is p?
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- Suppose that the cost of producing q appliances is C(q) = 500 – 4q + q? and the demand function is given by p = 14 – 2 q. The quantity that minimizes the average cost function and the corresponding price are g= 22.36 and p= -30.72 a) Why the corresponding price is negative? explain The maximum profit would be -473 b) Why the maximum profit is minus? explain what happensLet x denote the level of output of a firm’s production process. The cost function is given by C (x) = x(x +1)+120 and the demand function of the product by x =1000 - 2p. (a) Compute profit E(x). (b) Find the output x at which profit is maximized. Please answer both subparts. I will really upvote. ThanksThe unit price of a product is given by P(X) = 200 - 0,01X and the total cost function C(x) = 50X + 20.000 How many items should be sold to maximize profit?
- To produce x units of t-shirts costs C(x) = 7.50x + 1200. The revenue is R(x) = 16x. a) Find the break-even point b) How many t-shirts needs to be produced and sold in order to make a profit of $500?A firm will break even (no profit and no loss) as long as revenue just equals cost. The value of x (the number of items produced and sold) where C(x) = R(x) is called the break-even point. Assume that the below table can be expressed as a linear function. Find (a) the cost function, (b) the revenue function, and (c) the profit function. (d) Find the break-even point and decide whether the product should be produced, given the restrictions on sales. Fixed cost Variable cost Price of item $15 $300 $30 According to the restriction, no more than 17 units can be sold. (a) The cost function is C(x) =. (Simplify your answer.)Suppose the demand for a certain brand of a product is given by D(p) = + 300, where p is the price in dollars. If the price, in terms of the cost c, is expressed as p(c) = 4c - 36, find the demand function in terms of the cost. D(c) =
- What is the price function of output for a firm with cost function c(y) = y2+ 2y2+ 6 ? (a) y = P/6 (b) y = 4/P (c) y = 2/P (d) y = P/2The market for high-quality matsutake mushrooms is dependent on the weather. If the weather is good, one kilogram matsutake mushroom can be sold for $30. In bad weather it sells for only $20 per kilogram. Matsutake mushrooms produced one week will not be kept until the next week, A small matsutake mushrooms producer has a cost function given by C = 0.5q^2 + 5q + 100 where q is weekly matsutake mushrooms production. Production decisions must be made before the weather (and the price of matsutake mushrooms) is known, but it is known that good weather and bad weather each occur with a probability of O.5. How much matsutake mushrooms should this firm produce if it wishes to maximize the expected value of its profits?A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500 per day when producing 15 sinks. The company has a daily demand function of q = 360 − p, where q is the number if laundry sinks demanded and p is te price of a laundry sink. (b) Find a function for the average cost of this company?
- A startup software company has indicated its cost, c(x), and revenue, f(x), as given below, such that x is the number of lines of programing code (units in 1000 lines). c(x) = 80000 - 2(x-200)2 f(x) = (x-10)3 + (x+10)2 Find the marginal cost analytically, and draw its graph Find the marginal revenue analytically, and draw its graph Solve for the x point where marginal cost is equal to marginal revenue analytically. Comment why is this point significant analytically. Write the profit function and draw its graph Is the profit function concave up or concave down?A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500 per day when producing 15 sinks. The company has a daily demand function of q = 360 − p, where q is the number if laundry sinks demanded and p is te price of a laundry sink. (d) How many laundry sinks will the company need to produce in order to maximise it′s profits?Given cost and price (demand) functions C(q)=110q+45,000 and p(q)=−1.8q+900, What price should be set to maximum profit? It should be $enter your response here per item. (Round answer to nearest cent.)
