Sony’s marginal cost function for the manufacture of n number of PlayStation 4’s per hour is:
c(n)=340+.001n (in dollars)
And Sony sells PlayStation 4’s for an average wholesale price of $400. Determine the total additional hourly profit corresponding to an increase in production and sales from 50,000 to 60,000 PlayStation 4’s per hour.
Sony’s marginal cost function for the manufacture of n number of PlayStation 4’s per hour is:...
Sony’s marginal cost function for the manufacture of n number of PlayStation 4’s per hour is: c ( n ) = 340 + .001 n (in dollars) And Sony sells PlayStation 4’s for an average wholesale price of $400. Determine the total additional hourly profit corresponding to an increase in production and sales from 50,000 to 60,000 PlayStation 4’s per hour.
11. Marginal and Average Cost: iPhones Assume that it costs Apple approximately A-Z C () 400,000+160z + 0.001z2 dollars to manufacture 32GB iPhone 6's in an hour at the Foxconn Technology Group a. Find the marginal cost function, and use it to estimate how fast the cost is increasing when 10,000. Compare this with the exact cost of producing the 10,001st iPhone. Answer b. Find the average cost function C and the average cost to produce the first 10,000 iPhones....
Bus Econ 13.5.69 Question Help A company manufactures mountain bikes. The research department produced the marginal cost function C(x)-500-งิ 0sxs900 where C(x) is in dollars and x is the number of bikes produced per month. Compute the increase in cost going from a production level of 600 bikes per month to 900 bikes per month. Set up a definite integral and evaluate it. The increase in cost is s Bus Econ 13.5.81 := Question Help Given the supply function p=S(x)...
QUESTION 4 When production is 2000, marginal revenue is $20 per unit and marginal cost is $22.25 per unit. Do you expect maximum profit to occur at a production level above or below 2000? Since marginal revenue is less than marginal cost around q = 2000, as you produce more of the product your revenue increases slower than your costs, so profit decreases, and maximal profit will occur at a production level below 2000. The profit function is not given,...
4. (10 points) A company's marginal cost function is C'(x) = 3.22 – 2x + 10 dollars, where a denotes the number of units produced in 1 day. Determine the increase in cost if the production level is raised from r = 1 to 1 = 3 units. Show all of your work.
Question s (20 pts) For a certain manufacturer, the demand function is given by P-34 and the total cost function is TC 357q2+1800q, find: a) Total Revenue function (4 pts) b) Profit function (5 pts) c) Marginal profit function (4 pts) d) Marginal revenue function (4 pts) e) Marginal Cost function (3 pts) +600g Question 6 (20 pts) a. Given a marginal cost function: 0.000204q-0.046q + 6. When the fuxed cost s $15,000, find the total cost for producing 200...
A monopoly has a constant marginal cost of production of $4 per unit and no fixed costs. In the figure to the right, let D be demand and MR be marginal revenue. 1.) Using the line drawing tool graph the monopoly's marginal cost curve. Label this curve 'MC! 2.) Using the line drawing tool, graph the monopoly's average variable cost curve. Label this curve 'AVC.' 3.) Using the line drawing tool, graph the monopoly's average cost curve. Label this curve...
b) (4 points) Graph demand, marginal revenue, marginal cost and
average total cost (ATC) below. Mark Q*, P*, ATC* (you’ll have to
calculate it) and the endpoints to all of the curves.
c) (2 points) Given your answers above, explain which curve(s)
will shift in the long run and why.
d) (4 points) Draw the graph that represents this firm in the
long-run. Label the profit-maximizing price and quantity as P* and
Q*, respectively. No numbers are necessary, but be...
Question 4 a) For the production function f(L,K)= L13K2/3, find the long run cost function, marginal cost function and average cost function. (20 points) b) For the same production function above, find the short run variable cost function and total cost function when capital is fixed at 500 units. (10 Points) Question 5 Suppose inputs can be perfectly substituted at a constant rate of two units of labor for every one unit of capital, while producing the same level of...
George, the owner of a car wash is trying to decide on the number of people to employ based on the following short–run production function: Q = 6L – 0.5L2 Where Q = number of car washes per hour and L = number of workers.a) Generate a schedule showing total product, average product and marginal product. (5 marks) b) The price of a basic car wash is $50. How many workers should he hire if each worker is paid $60/hour?...