please help explain how to work these problems,
Homework Answers
Marginal revenue function = -16q + 800
For 39th unit = 176
Marginal cost function = -8q + 600
For 35th unit = 320
Marginal profit function = -8q + 400
For 38th unit = 96.
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please help explain how to work these problems,
Suppose a product's revenue function is given by...
Suppose a company's revenue function is given by R(q) = - q° + 200q and its...
Suppose a company's revenue function is given by R(q) = - q° + 200q and its cost function is given by C(q) = 160 + 11q, where q is hundreds of units sold/produced, while R(q) and C(q) are in total dollars of revenue and cost, respectively. A) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your answer.) MP(q) B) How many items (in hundreds) need to be sold to maximize profits?...
Please solve all of them. 7. The revenue function for a product is given by 60x2...
Please solve all of them.
7. The revenue function for a product is given by 60x2 R(x) = 2x+1 a. Find the marginal revenue function The price of a product in a competitive market is $300. The cost per unit of producing the product is 160 + 0.1% dollars, where x is the number of units produced per month a. Find the marginal cost function. b. Find the marginal revenue function b. Find MR(100) and interpret your results. c. Find...
A company estimates that the weekly sales q of its product is related to the product's...
A company estimates that the weekly sales q of its product is related to the product's price p by the function 9= 3 16975 ps where p is in dollars. Currently, each unit of the product is selling for $5. a. Determine the point elasticity of demand of this product (Do not round ε, answer exactly.). The point elasticity of demand is ε = 8/3 Preview Round these next two parts to the nearest whole number. b. Determine the effect...
The total revenue function for a certain product is given by The total revenue function for...
The total revenue function for a certain product is given by
The total revenue function for a certain product is given by R=630x dollars, and the total cost function for this product is C = 10,000+ 30x + x2 dollars, where x is the number of units of the product that are produced and sold. a. Find the profit function. b. Find the number of units that gives maximum profit. c. Find the maximum possible profit. a. P(x)= (Simplify your...
need help with #13 please and thank you 13. DETAILS HARMATHAPBR1 9.9.008. Cost, revenue, and profit...
need help with #13 please and thank you
13. DETAILS HARMATHAPBR1 9.9.008. Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the total revenue function for a product is R(x) - 55x and that the total cost function is c(*) - 2000 + 35x + 0.01x? (a) Find the profit from the production and sale of 500 units. $ (b) Find the marginal profit function. (c) Find MP at x = 500. Explain...
Suppose the total cost function for a firm is given by: TC= 100 + 2q +4q2....
Suppose the total cost function for a firm is given by: TC= 100 + 2q +4q2. Find the marginal cost function and then use that to determine the marginal cost of the 10th unit.
41. Revenue and Marginal Revenue Let R(x) denote the revenue (in thousands of dollars) generated from...
41. Revenue and Marginal Revenue Let R(x) denote the revenue (in thousands of dollars) generated from the production of x units of computer chips per day, where each unit consists of 100 chips. (a) Represent the following statement by equations involving R or R': When 1200 chips are produced per day, the rev- enue is $22,000 and the marginal revenue is $.75 per chip. (b) If the marginal cost of producing 1200 chips is $1.5 per chip, what is the...
41. Revenue and Marginal Revenue Let R(x) denote the revenue (in thousands of dollars) generated from...
41. Revenue and Marginal Revenue Let R(x) denote the revenue (in thousands of dollars) generated from the production of x units of computer chips per day, where each unit consists of 100 chips. =X (a) Represent the following statement by equations involving R or R': When 1200 chips are produced per day, the rev- enue is $22,000 and the marginal revenue is $.75 per chip. (b) If the marginal cost of producing 1200 chips is $1.5 per chip, what is...
36. Revenue Suppose that the revenue function for a certain product is given by R(x) =...
36. Revenue Suppose that the revenue function for a certain product is given by R(x) = 15(2x + 1)-1 + 30x – 15 where x is in thousands of units and R is in thousands of dollars. (a) Find the marginal revenue when 2000 units are sold. (b) How is revenue changing when 2000 units are sold?
The cost to produce q electric cat brushes is described by the function: C(q)= 10q^2+250q, where...
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 a company's revenue function is given by R(q) = - q° + 200q and its cost function is given by C(q) = 160 + 11q, where q is hundreds of units sold/produced, while R(q) and C(q) are in total dollars of revenue and cost, respectively. A) Find a simplified expression for the marginal profit function. (Be sure to use the proper variable in your answer.) MP(q) B) How many items (in hundreds) need to be sold to maximize profits?...
Please solve all of them.
7. The revenue function for a product is given by 60x2 R(x) = 2x+1 a. Find the marginal revenue function The price of a product in a competitive market is $300. The cost per unit of producing the product is 160 + 0.1% dollars, where x is the number of units produced per month a. Find the marginal cost function. b. Find the marginal revenue function b. Find MR(100) and interpret your results. c. Find...
A company estimates that the weekly sales q of its product is related to the product's price p by the function 9= 3 16975 ps where p is in dollars. Currently, each unit of the product is selling for $5. a. Determine the point elasticity of demand of this product (Do not round ε, answer exactly.). The point elasticity of demand is ε = 8/3 Preview Round these next two parts to the nearest whole number. b. Determine the effect...
The total revenue function for a certain product is given by
The total revenue function for a certain product is given by R=630x dollars, and the total cost function for this product is C = 10,000+ 30x + x2 dollars, where x is the number of units of the product that are produced and sold. a. Find the profit function. b. Find the number of units that gives maximum profit. c. Find the maximum possible profit. a. P(x)= (Simplify your...
need help with #13 please and thank you
13. DETAILS HARMATHAPBR1 9.9.008. Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the total revenue function for a product is R(x) - 55x and that the total cost function is c(*) - 2000 + 35x + 0.01x? (a) Find the profit from the production and sale of 500 units. $ (b) Find the marginal profit function. (c) Find MP at x = 500. Explain...
41. Revenue and Marginal Revenue Let R(x) denote the revenue (in thousands of dollars) generated from the production of x units of computer chips per day, where each unit consists of 100 chips. (a) Represent the following statement by equations involving R or R': When 1200 chips are produced per day, the rev- enue is $22,000 and the marginal revenue is $.75 per chip. (b) If the marginal cost of producing 1200 chips is $1.5 per chip, what is the...
41. Revenue and Marginal Revenue Let R(x) denote the revenue (in thousands of dollars) generated from the production of x units of computer chips per day, where each unit consists of 100 chips. =X (a) Represent the following statement by equations involving R or R': When 1200 chips are produced per day, the rev- enue is $22,000 and the marginal revenue is $.75 per chip. (b) If the marginal cost of producing 1200 chips is $1.5 per chip, what is...
36. Revenue Suppose that the revenue function for a certain product is given by R(x) = 15(2x + 1)-1 + 30x – 15 where x is in thousands of units and R is in thousands of dollars. (a) Find the marginal revenue when 2000 units are sold. (b) How is revenue changing when 2000 units are sold?
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...
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