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Find the minimum cost of producing 50,000 units of a product, where x is the number...
19. The product function for a company is given by f(x, y) 100x0.2 у0.7 , where x is the number of units of labor (at $48 per unit) and y is the number of units of capital (at $36 per unit). When the...
19. The product function for a company is given by f(x, y) 100x0.2 у0.7 , where x is the number of units of labor (at $48 per unit) and y is the number of units of capital (at $36 per unit). When the total cost of S100,000 is available for labor and capital, the maximum production level for this company is 147,314 units and the marginal productivity of money is .47314 a. Find the maximum number of units that can...
The cost of producing x units of a product is modeled by the following. C =...
The cost of producing x units of a product is modeled by the following. C = 120 + 45x – 150 In(x), x 21 (a) Find the average cost function T. = (b) Find the minimum average cost analytically. Use a graphing utility to confirm your result. (Round your answer to two decimal places.)
The cost of producing x units of a product is modeled by the following. C =...
The cost of producing x units of a product is modeled by the following. C = 110 + 45x – 180 In(x), X21 (a) Find the average cost function C. o (b) Find the minimum average cost analytically. Use a graphing utility to confirm your result. (Round your answer to two decimal places.)
A company produces x units of product A and y units of product B (both in...
A company produces x units of product A and y units of product B (both in hundreds per month). The monthly profit equation (in thousands of dollars) is given by the following: P(x,y) = -4x^2 + 4xy - 3y^2 + 4x + 10y +81 Find P: (x,y) and evaluate P,(1,3). Use formulas to get an exact answer! Px(x,y) = Px(1,3) = What does this value mean? Answer in this textbox. Answer: What is the critical point of P(x,y)? What are...
2.If C(x) is the cost of producing x units of a commodity, then the average cost...
2.If C(x) is the cost of producing x units of a commodity, then the average cost per unit is c(x) = C(x)/x. Consider the cost function C(x) given below. C(x) = 24,000 + 290x + 6x3/2 (a) Find the total cost at a production level of 1000 units. (Round your answer to the nearest cent.) $ (b) Find the average cost at a production level of 1000 units. (Round your answer to the nearest cent.) $ per unit (c) Find...
& The cost of producing & units is C(x) = 200+755 – 300 lux (a) Find...
& The cost of producing & units is C(x) = 200+755 – 300 lux (a) Find the average cost function C (6) Find the minimum average cost analytically. Show all steps, explain what you're doing, and prove (using calculus) it's a minimum a answer correct to 2 decimal places)
Product Cost Concept of Product Pricing La Femme Accessories Inc. produces women's handbags. The cost of producing 800...
Product Cost Concept of Product Pricing La Femme Accessories Inc. produces women's handbags. The cost of producing 800 handbags is as follows: Direct materials $18,000 Direct labor 8,500 Factory overhead 5,500 Total manufacturing cost $32,000 The selling and administrative expenses are $17,000. The management desires a profit equal to 22% of invested assets of $250,000. a. Determine the amount of desired profit from the production and sale of 800 handbags. $ 55,000 b. Determine the product cost per unit for...
wll result in a maximum proit? (10 marks) QUESTION5 a) Suppose that the total cost of producing 1 unit of a product is given by C(x, y)-20x +70y+ 5 dollars, where x represents the cost per Ringgi...
wll result in a maximum proit? (10 marks) QUESTION5 a) Suppose that the total cost of producing 1 unit of a product is given by C(x, y)-20x +70y+ 5 dollars, where x represents the cost per Ringgit of raw 1000 100 materials and y represents the hourly rate for labor. The present cost for raw materials is RM11 per pound and the present hourly rate for labor is RM20. i. Indicate how to use the cost function C to determine...
s marginal product functions MP-100K and MPx - 100L. If the price of capital, is 500...
s marginal product functions MP-100K and MPx - 100L. If the price of capital, is 500 per day and the price of laboris $320 per day, what is the coutof producing The production function for a product is given by 9 100KL 5,000 units of output? The minimum cost of producing 5.000 units of outpulis Round av intermediate result to 3 decimal places and are your response rounded two decimal places) Suppose that a firm's production function is: q1045 Its...
The total cost function for a product is C(x) = 600 In(x + 10) + 1700...
The total cost function for a product is C(x) = 600 In(x + 10) + 1700 where x is the number of units produced. (a) Find the total cost of producing 200 units. (Round your answer to the nearest cent.) (b) Producing how many units will give total costs of $6500? (Round your answer to the nearest whole number.) units
19. The product function for a company is given by f(x, y) 100x0.2 у0.7 , where x is the number of units of labor (at $48 per unit) and y is the number of units of capital (at $36 per unit). When the total cost of S100,000 is available for labor and capital, the maximum production level for this company is 147,314 units and the marginal productivity of money is .47314 a. Find the maximum number of units that can...
The cost of producing x units of a product is modeled by the following. C = 120 + 45x – 150 In(x), x 21 (a) Find the average cost function T. = (b) Find the minimum average cost analytically. Use a graphing utility to confirm your result. (Round your answer to two decimal places.)
The cost of producing x units of a product is modeled by the following. C = 110 + 45x – 180 In(x), X21 (a) Find the average cost function C. o (b) Find the minimum average cost analytically. Use a graphing utility to confirm your result. (Round your answer to two decimal places.)
A company produces x units of product A and y units of product B (both in hundreds per month). The monthly profit equation (in thousands of dollars) is given by the following: P(x,y) = -4x^2 + 4xy - 3y^2 + 4x + 10y +81 Find P: (x,y) and evaluate P,(1,3). Use formulas to get an exact answer! Px(x,y) = Px(1,3) = What does this value mean? Answer in this textbox. Answer: What is the critical point of P(x,y)? What are...
& The cost of producing & units is C(x) = 200+755 – 300 lux (a) Find the average cost function C (6) Find the minimum average cost analytically. Show all steps, explain what you're doing, and prove (using calculus) it's a minimum a answer correct to 2 decimal places)
Product Cost Concept of Product Pricing La Femme Accessories Inc. produces women's handbags. The cost of producing 800 handbags is as follows: Direct materials $18,000 Direct labor 8,500 Factory overhead 5,500 Total manufacturing cost $32,000 The selling and administrative expenses are $17,000. The management desires a profit equal to 22% of invested assets of $250,000. a. Determine the amount of desired profit from the production and sale of 800 handbags. $ 55,000 b. Determine the product cost per unit for...
wll result in a maximum proit? (10 marks) QUESTION5 a) Suppose that the total cost of producing 1 unit of a product is given by C(x, y)-20x +70y+ 5 dollars, where x represents the cost per Ringgit of raw 1000 100 materials and y represents the hourly rate for labor. The present cost for raw materials is RM11 per pound and the present hourly rate for labor is RM20. i. Indicate how to use the cost function C to determine...
s marginal product functions MP-100K and MPx - 100L. If the price of capital, is 500 per day and the price of laboris $320 per day, what is the coutof producing The production function for a product is given by 9 100KL 5,000 units of output? The minimum cost of producing 5.000 units of outpulis Round av intermediate result to 3 decimal places and are your response rounded two decimal places) Suppose that a firm's production function is: q1045 Its...
The total cost function for a product is C(x) = 600 In(x + 10) + 1700 where x is the number of units produced. (a) Find the total cost of producing 200 units. (Round your answer to the nearest cent.) (b) Producing how many units will give total costs of $6500? (Round your answer to the nearest whole number.) units
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