given cost and price functions c(q)=120q+43,000 and p(q)= -1.8q+870, what price should be set to maximum profit?
it should be $____ per item
given cost and price functions c(q)=120q+43,000 and p(q)= -1.8q+870, what price should be set to maximum...
Given cost and price (demand) functions C(q) = 100q +49,700 and p(q) = – 2q +890, what profit can the company earn by selling 110 items? It can expect to earn $ 112400 in profit. (Round answer to nearest dollar.)
The cost to produce q electric cat brushes is described by the function: C(q)= 10q^2+250q, where q is hundreds of units for volumes less than 2,000. The demand function for electric cat bushes is described by: P(q)= -q^2-3q+1280, where p represents price in dollars. 1.) What are the company's marginal cost and marginal revenue functions? 2.) Calculate the number of units that produces the maximum profit. What price should the company charge and what is the maximum profit it will...
Suppose price-taking firms have cost functions given by C(q) = 90 + 5q + 0.025q^2 What are the equations of marginal costs and average costs? How much would the firm produce at prices of $9, $10, $11, and $12? How much profit would the firm earn at prices of $9, $10, $11, and $12? Graph the MC, AC. Indicate the profits at a price of $9 per unit. What price would be charged in the perfect competitive equilibrium?
(1 point) The total cost ?(?)C(q) of producing ?q goods is given by: ?(?)=0.01?3−0.6?2+14?C(q)=0.01q3−0.6q2+14q What is the fixed cost? fixed cost = dollars What is the maximum profit if each item is sold for 10 dollars? (Assume you sell everything you produce. Also note that you can only produce a whole number of goods.) maximum profit = dollars Suppose we fix production at 36 goods produced, and that they all sell when the price is 10 dollars each. Also suppose that for...
Consider the following demand and cost functions; P = 16000 - 4Q Q = Q. + Q: C(0) = 4000Q. C:(02) = 600002 (3) Bertrand Model. (a) (2 points) What is the output for each firm? (b) (3 points) What is the market equilibrium price and quantity? (c) (2 points) What is the profit of each firm?
A monopoly faces a market demand Q(p)=1500-5p and has costs C(q)=120q. What is profit of the firm? 40500 20250 36000 18000 0
Consider the following demand and cost functions; P = 16000 - 4Q Q = Q. + Q: C(0) = 4000Q. C:(02) = 600002 (2) Stackelberg Model. Assume that firm 1 is the leader. (a) (2 points) What is the output for each firm? (b) (3 points) What is the market equilibrium price and quantity? (c) (2 points) What is the profit of each firm?
The weekly cost functions of the only plumber in town are: TC = 40 Q + Q2 MC = 40 + 2 Q The weekly demand that this monopolist plumber faces has been estimated as follows: Qd = 50 – 0.25 P where Q is the average weekly number plumbing jobs performed and P represents the average price of each job. a. Determine the profit maximizing price and the quantity of the plumber. b. What would be his (maximum) profit?...
Chapter 4, Section 4.5, Question 021 The total cost C(q) of producing a goods is given by: C(q) = 0.0193 – 0.6q² + 139. (a) What is the fixed cost? $ (b) What is the maximum profit if each item is sold for $7? (Assume you sell everything you produce.) $ (c) Suppose exactly 34 goods are produced. They all sell when the price is $7 each, but for each $1 increase in price, 2 fewer goods are sold. Should...
(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...