matematik iktisat

Question

Question

matematik iktisat

Given the following total revenue and total cost functions for a firm, maximize profit ԯ for the firm as follows

(1) Set up the profit function

? = ?? − ??,

(2)find the critical value(s) where π is at a relative extremum and test the second-order condition, and (3) calculate the maximum profit.

?? = 1500?² − 12? ?? = 2000 + 90?

Iktisat Matematik

Add a comment Improve this question Transcribed image text

Answer 1

Similar Homework Help Questions

matematik iktisat

Given the following total revenue and total cost functions for a firm, maximize profit ԯ for the firm as follows (1) Set up the profit function ? = ?? − ??,(2)find the critical value(s) where π is at a relative extremum and test the second-order condition, and (3) calculate the maximum profit. ?? = 1500? − 12? ଶ ?? = 2000 + 90?
matematik iktisat

Aşağıdaki toplam gelir ve toplam maliyet fonksiyonları göz önüne alındığındabir firma için karı maksimize edin ԯ firma için aşağıdaki (1)kar fonksiyonunda yukarı ? = ?? - ??, (2) kritik olanı bulundeğer (ler) burada relative göreceli bir uç noktadadır ve testikinci dereceden koşul ve (3) maksimum karı hesaplayın.?? = 1500? - 12?ଶ ?? = 2000 + 90
iktisat

Aşağıdaki toplam gelir ve toplam maliyet fonksiyonları göz önüne alındığındabir firma için karı maksimize edin ԯ firma için aşağıdaki (1)kar fonksiyonunda yukarı ? = ?? - ??, (2) kritik olanı bulundeğer (ler) burada relative göreceli bir uç noktadadır ve testikinci dereceden koşul ve (3) maksimum karı hesaplayın.?? = 1500? - 12?ଶ ?? = 2000 + 90

matematik

Aşağıdaki toplam gelir ve toplam maliyet fonksiyonları göz önüne alındığındabir firma için karı maksimize edin ԯ firma için aşağıdaki (1)kar fonksiyonunda yukarı ? = ?? - ??, (2) kritik olanı bulundeğer (ler) burada relative göreceli bir uç noktadadır ve testikinci dereceden koşul ve (3) maksimum karı hesaplayın.?? = 1500? - 12?ଶ ?? = 2000 + 90
Question 2. (a) Suppose there is a firm producing two goods. The profit function π is...

Question 2. (a) Suppose there is a firm producing two goods. The profit function π is function of Q1 and Q2 Find Qi and Q2 to maximize total profit. Use the sccond-order conditions to verify that profits are maximized for these extreme values. What is the maximum of the profit π
3. A certain company has fixed costs of $15,000 for its product and variable costs is...

3. A certain company has fixed costs of $15,000 for its product and variable costs is given by 140 +0.04x dollars per unit where x is the total number of units. The selling price p of the product is given by 300 -0.06x dollars per unit. (6 pts) a) Set up the functions for total cost and total revenue. b) Find the minimum break even quantity. c) Set up the profit function and compute the number of units that will...

The demand equation for your company's virtual reality video headsets is 2,000 where q is the tot...

The demand equation for your company's virtual reality video headsets is 2,000 where q is the total number of headsets that your company can sell in a week at a price of p dollars. The total manufacturing and shipping cost amounts to $130 per headset (a) Find the weekly cost, revenue and profit as a function of the demand q for headsets. C(4)- R(q) (b) How many headsets should your company sell to maximize profit? (Give your answer to the...
6. Given the following function TR(R) 6000 -40 TCQ) 1000 +10,200 a. Find the revenue maximizing...

6. Given the following function TR(R) 6000 -40 TCQ) 1000 +10,200 a. Find the revenue maximizing level of output (check 2d order conditions also), b. Find the maximum revenue c. Find the corresponding profit function d. Find the profit maximizing level of output (check 2nd order conditions also) e. Find the maximum profit 7. Given the following function TR(x)-3x260x TC(x) = 5,500 + 50x a. Find the revenue maximizing level of output check 2d order conditions also), b. Find the...
can you do question #2 1. Find the inflection point(s) for the function used in the inflation tax application M S =...

can you do question #2 1. Find the inflection point(s) for the function used in the inflation tax application M S = = me-(+)+aY 2. In the model of perfect competition, all firms are price-takers since they treat price as a market-determined constant. Firm Perfcomp's total revenue function is TR(9) = P Q, in which Pequals the output price. Assume that P = 12 and the total cost function TC(Q) = Q - 4.592 + 18Q - 7. (a) Determine...

A firm operates in a perfectly competitive market with a price of P = 50 for...

A firm operates in a perfectly competitive market with a price of P = 50 for the product. TVC = 0.5Q3 − 18Q2 + 170Q Q (output) TFC = 300. Write an equation expressing the firm’s total revenue (TR) as function of Q. Write an equation expressing the firm’s total cost (TC), as a function of Q. Write an equation expressing the firm’s profit (π), as a function of Q.Find the first-order condition for the firm’s profit-maximization decision. Find the...

matematik iktisat

Homework Answers

Request Answer!