Calculate the maximum profit that can be earned by producing the 2 goods. It can be Fully Q or Fully P or a combination of both.
Fully P - Production is 100 units per week; sold at 90 baht per unit
Revenues = 90* 100 = 9000
total operating expenses = $6000 per week
Profit = $9000 - $6000 = $3000
Q
Number of units produced = 50 units per week
Price = 100 baht per unit
Revenue = $100*50 = 5000
Operating expenses = $6000
The firm makes losses manufacturing only Q.
Calculate the maximum profit that can be earned by producing the 2 goods. It can be...
taking into account your Instructor's unfair attempts to confuse you)? is the maximum possible numbcr or ths Infomation for Q2-5 You ask 100 students at MassBay if they would anonymously share with you the n The median of these numbers is 20 hours, and the mean 18.2 hrs/wk with a 64% in your sample work at least 22 hours per week currently work while going to school. 81 of these agree and share the roquested info. Q 2 Construct a...
a- (5 pts) What is the maximum
possible profit that the monopolist can earn? (Calculate the exact
amount of profit).
(5 pts) How many units of output should a monopolist produce if
the monopolist wants to maximize revenue rather than profits?
(5 pts) What is the maximum obtainable total revenue for the
firm?
(5 pts) At the level of output you identified in part g, how
much profit would the firm earn?
Graph 2 20 16+ Marginal cost 127 Price...
Financial Mathematics
Please answer question 4 and question 5
o)23:30 Oe Image Edit View Go Help En Question 4 The total cost of producing x units of a commodity per week is C(x) 200 +4x +0,1x2 (a) Find the marginal cost when the production level is 100 units. (b) Use the marginal cost to approximate the cost of producing the 101 st unit. (c) Find the exact cost of producing the 101 st unit. (d) Assuming that the commodity is...
2 3 and 4
b. What is the average variable cost of producing 2 units of output What is the marginal cost of producing 2 units of output? c. The following table summarizes the short-run production function for your firm. Your product sells for $5 per unit, labor costs $5 per unit, and the rental price of capital is $25 per unit. Complete the following table, and answer the questions below; 2. 1 5 10 5 30 3 5 60...
26. Two people make up a small economy producing oats and/or shirts. The table below shows the maximum each individual can produce in one day for each good (and any linear combination). Oats Shirts Sam 300 100 Lindsay 150 75 a. Who has the comparative advantage in producing Oats? In producing shirts? b. In terms of shirts, what is the cost of producing one unit of oats for For Lindsay? c. If the total number of shirts produced is 100,...
each of the production functions below, calculate the least cost of producing unit of output for the given input prices. (a) 4 - *1 + 2x2; (wi, W2) - (1.4) $ Explain your reasoning. One unit of output can be produced either with 1 unit of input 1 costing $0 , or half of a unit of input 2, costing $ . (b) $ 4 = min{2X1 + X2, X3}; (W1, W2, W3) = (2, 4, 4) 5 Explain your...
please include diagrams!!
Problem 2. Consider a firm producing in a perfectly competitive market. Represent each of the following situations diagramatically. In each case determine if the firm is producing at the profit maximising level. If it is producing optimally, determine the firm's profit or loss, and in the latter case, if it should shut down. If it isn't producing optimally, should it increase or decrease output? 2, P = $20, Q-12, MC = $20. AC = $22. AVC =...
Decision Variables: B= # of external modems to be produced, profit=$40/unit P= # of internal modems to be produced, profit=$120/unit Objective: MaxTotal Profit= Max $40 B + $120 P Constraints: Software Engineer (SE): 20 B + 5 P <= 2400 minutes QC Manager: 15 B + 30 P <= 2400 minutes Demand for B: B <= 100 units Demand for P: P <= 50 units QC is the Bottleneck. P is the preferred product since $120/30 > $40/15 Optimal production quantities: B=60, P=50. Questions: 1. True/False - Allowable...
12. At the profit maximizing output, calculate Beth's profit: a. $100 b. $200 c. -$2.50 d. $40 5 13. Now suppose Beth's greedy father charges her to use the family lawn mower-$100 per week. Everything else is unchanged. How will this change affect the optimal number of acres to mow? a. b. c. Quantity will increase Quantity will decrease Quantity will remain unchanged 14. Suppose instead that Beth's father requires her to pay 50 percent of her weekly profits as...
Birdies produces four different models of footwear (detailed
production information is provided in table below). The operations
manager knows that total monthly demand exceeds the capacity
available for production. Demand next month is estimated to be 200
units of model Blackbird, 250 units of model Heron, 150 units of
model Starling, and 225 units of model Hummingbird. Birdie operates
only one 8-hour shift per day and is scheduled to work 20 days next
month (no overtime). Further, each station requires...