MANAGERIAL ECONOMICS: Given the below data, determine the price and quantity sold that would yield maximum...
MANAGERIAL ECONOMICS:
Given the below data, determine the price and quantity sold that would yield maximum profit.
| PRICE | QUANTITY |
| P 50 | 1,600 |
| 100 | 1,500 |
| 150 | 1,400 |
| 200 | 1,300 |
| 250 | 1,200 |
| 300 | 1,000 |
| 350 | 800 |
| 400 | 600 |
FIXED COST P100,000 AND VARIABLE COST P 50 / UNIT.
Answer in detailed.
Homework Answers
| PRICE | QUANTITY | Total Revenue | Fixed cost | Variable cost per unit | Total variable cost | Profit (Total revenue - total fixed cost - total variable cost) | |
| 50 | 1600 | 80000 | 100000 | 50 | 80000 | -100000 | |
| 100 | 1500 | 150000 | 100000 | 50 | 75000 | -25000 | |
| 150 | 1400 | 210000 | 100000 | 50 | 70000 | 40000 | |
| 200 | 1300 | 260000 | 100000 | 50 | 65000 | 95000 | |
| 250 | 1200 | 300000 | 100000 | 50 | 60000 | 140000 | |
| maximum profit | 300 | 1000 | 300000 | 100000 | 50 | 50000 | 150000 |
| 350 | 800 | 280000 | 100000 | 50 | 40000 | 140000 | |
| 400 | 600 | 240000 | 100000 | 50 | 30000 | 110000 | |
| The price and the quantity that would yield maximum profit is equal to Price - 300, Quantity - 1000. | |||||||
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Refer to photo.
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