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Question s (20 pts) For a certain manufacturer, the demand function is given by P-34 and...
Question 2 [20 marks] = Given that the price of the product is P(Q) 4000 –...
Question 2 [20 marks] = Given that the price of the product is P(Q) 4000 – 33Q and the Marginal Cost function of producing the same product is C' = 602 – 6Q + 400. Assuming Q> 0. a) Find the revenue and marginal revenue function of the production in term of Q. (3 Marks) b) Find the total cost function if the fixed cost of the production is RM5000. (4 Marks) c) Interpret the result of the marginal profit...
A firm's total cost function is given by the equation: &n
A firm's total cost function is given by the equation: (3 pts) TC = 2000 + 430Q - 40Q2 + Q3. Based on the equation determine a. Total cost of producing 20 units of output. b. Total Fixed Cost of producing 20 units of output. c. Total Variable Cost of producing 20 units of output. d. Average total Cost of producing 20 units of output. e. Average Variable Cost of producing 20 units of output. f. Marginal Cost...
D Question 1 1 pts If the cost of a certain product is given by C(x)...
D Question 1 1 pts If the cost of a certain product is given by C(x) - 130.4x find the marginal average cost function and use it to compute the marginal average cost of production when 5 items are produced. Give answer rounded to two decimal places. (1 point) Question 2 1 pts Gluen y = [lx' +2x + 4)(x + 1)l' calculate the derivative of this function when x 2 The derivative is L? (1 point 1 pts Question...
The total cost C for a manufacturer during a given time period is a function of...
The total cost C for a manufacturer during a given time period is a function of the number N of items produced during that period. To determine a formula for the total cost, we need to know the manufacturer's fixed costs (covering things such as plant maintenance and insurance), as well as the cost for each unit produced, which is called the variable cost. To find the total cost, we multiply the variable cost by the number of items produced...
(1 point) The price-demand and cost functions for the production of microwaves are given as P=240-...
(1 point) The price-demand and cost functions for the production of microwaves are given as P=240- C(x) = 46000 + 40., is the number of microwaves that can be sold at a price of p dollars per unit and C where units. ) is the total cost (in dollars) of producing (A) Find the marginal cost as a function of C'(x) = (B) Find the revenue function in terms R(x) = (C) Find the marginal revenue function in terms of...
2. Suppose the demand function relating demand and price is given by pix)- 50-0.005x. The total...
2. Suppose the demand function relating demand and price is given by pix)- 50-0.005x. The total cost of making x units is given by C )-0.00001 x3-0,033 x2+48x+5,000 a) Find the revenue function R(x). b) Find the profit function P(x). c) How many units must be made and sold to maximize profit? Verify that you have found the maximum using d) e) f) the first derivative test. What is the maximum profit? What are the marginal cost, marginal revenue and...
4. [20 pts] Suppose your Marginal Revenue is given by MR =450+5q and Marginal Cost is given by MC=0.25q2 -25q +925 (a)...
4. [20 pts] Suppose your Marginal Revenue is given by MR =450+5q and Marginal Cost is given by MC=0.25q2 -25q +925 (a) 10 pts Find the area between the graphs of MR and MC for 0sqs65 (b) 5 pts] What does your answer in (a) represent in the context of the given situation of revenue, cost and profit? 5 pts What doesMC dt represent in the context of the given situation of (c) 58 revenue, cost and profit?
4. [20...
A firm produces a product in a competitive industry and has a total cost function (TC)...
A firm produces a product in a competitive industry and has a total cost function (TC) of TC(a) 60+4q+2q2 and a marginal cost function (MC) of MC(q) = 4 + 4q. At the given market price (P) of $20, the firm is producing 4.00 units of output. Is the firm maximizing profit?V What quantity of output should the firm produce in the long run? The firm should produce unit(s) of output. (Enter your response as an integer.)
Please solve all of them. 7. The revenue function for a product is given by 60x2...
Please solve all of them.
7. The revenue function for a product is given by 60x2 R(x) = 2x+1 a. Find the marginal revenue function The price of a product in a competitive market is $300. The cost per unit of producing the product is 160 + 0.1% dollars, where x is the number of units produced per month a. Find the marginal cost function. b. Find the marginal revenue function b. Find MR(100) and interpret your results. c. Find...
4. [20 pts] Suppose your Marginal Revenue is given by MR =450+5q and Marginal Cost is...
4. [20 pts] Suppose your Marginal Revenue is given by MR =450+5q and Marginal Cost is given by MC=0.25q2 -25q +925 (a) 10 pts Find the area between the graphs of MR and MC for 0sqs65 (b) 5 pts] What does your answer in (a) represent in the context of the given situation of revenue, cost and profit? 5 pts What doesMC dt represent in the context of the given situation of (c) 58 revenue, cost and profit?
Question 2 [20 marks] = Given that the price of the product is P(Q) 4000 – 33Q and the Marginal Cost function of producing the same product is C' = 602 – 6Q + 400. Assuming Q> 0. a) Find the revenue and marginal revenue function of the production in term of Q. (3 Marks) b) Find the total cost function if the fixed cost of the production is RM5000. (4 Marks) c) Interpret the result of the marginal profit...
D Question 1 1 pts If the cost of a certain product is given by C(x) - 130.4x find the marginal average cost function and use it to compute the marginal average cost of production when 5 items are produced. Give answer rounded to two decimal places. (1 point) Question 2 1 pts Gluen y = [lx' +2x + 4)(x + 1)l' calculate the derivative of this function when x 2 The derivative is L? (1 point 1 pts Question...
(1 point) The price-demand and cost functions for the production of microwaves are given as P=240- C(x) = 46000 + 40., is the number of microwaves that can be sold at a price of p dollars per unit and C where units. ) is the total cost (in dollars) of producing (A) Find the marginal cost as a function of C'(x) = (B) Find the revenue function in terms R(x) = (C) Find the marginal revenue function in terms of...
2. Suppose the demand function relating demand and price is given by pix)- 50-0.005x. The total cost of making x units is given by C )-0.00001 x3-0,033 x2+48x+5,000 a) Find the revenue function R(x). b) Find the profit function P(x). c) How many units must be made and sold to maximize profit? Verify that you have found the maximum using d) e) f) the first derivative test. What is the maximum profit? What are the marginal cost, marginal revenue and...
4. [20 pts] Suppose your Marginal Revenue is given by MR =450+5q and Marginal Cost is given by MC=0.25q2 -25q +925 (a) 10 pts Find the area between the graphs of MR and MC for 0sqs65 (b) 5 pts] What does your answer in (a) represent in the context of the given situation of revenue, cost and profit? 5 pts What doesMC dt represent in the context of the given situation of (c) 58 revenue, cost and profit?
4. [20...
A firm produces a product in a competitive industry and has a total cost function (TC) of TC(a) 60+4q+2q2 and a marginal cost function (MC) of MC(q) = 4 + 4q. At the given market price (P) of $20, the firm is producing 4.00 units of output. Is the firm maximizing profit?V What quantity of output should the firm produce in the long run? The firm should produce unit(s) of output. (Enter your response as an integer.)
Please solve all of them.
7. The revenue function for a product is given by 60x2 R(x) = 2x+1 a. Find the marginal revenue function The price of a product in a competitive market is $300. The cost per unit of producing the product is 160 + 0.1% dollars, where x is the number of units produced per month a. Find the marginal cost function. b. Find the marginal revenue function b. Find MR(100) and interpret your results. c. Find...
4. [20 pts] Suppose your Marginal Revenue is given by MR =450+5q and Marginal Cost is given by MC=0.25q2 -25q +925 (a) 10 pts Find the area between the graphs of MR and MC for 0sqs65 (b) 5 pts] What does your answer in (a) represent in the context of the given situation of revenue, cost and profit? 5 pts What doesMC dt represent in the context of the given situation of (c) 58 revenue, cost and profit?
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