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The table shows the marginal cost C'(x), the marginal revenue R'(x) for producing x items. The...
The total-cost, C(x), and total revenue, R(x), functions for producing x items are shown below, where...
The total-cost, C(x), and total revenue, R(x), functions for producing x items are shown below, where 0 SXS 800 C(x) = 5900 + 100x and R(x) = - + 600X a) Find the total-profit function P(x). b) Find the number of items, x, for which the total profit is a maximum a) P(x) = b) The profit is maximized for a production of units
1. The graph below shows marginal cost, marginal revenue, and average total cost for a company...
1. The graph below shows marginal cost, marginal revenue, and average total cost for a company operating in a perfectly competitive market. In the short-run, the company maximizes profit by producing at point E. Is the company productively efficient? Explain. 16 Marginal cost 14 12 10 Marginal Cost/Marginal Revenue ($) 8 6 E Average cost Marginal revenue 4 2 C' 0 0 20 40 100 120 140 60 80 Quantity
Let C(q) represent the total cost of producing items and R(q) represent the total revenue from...
Let C(q) represent the total cost of producing items and R(q) represent the total revenue from the sale of q items. If C(125) = 1205, C'(125) = 10, R(125) = 1300, and R' (125) = 21, approximately how much additional profit is earned by the sale of the 126 item? This question should not be screenshot or publicly posted. Doing so is a violation with
The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues...
The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Price Quantity Marginal Revenue (dollars) Demanded (dollars) $85 50 $85 79 150 76 250 64 67 350 521 61 450 40 55 550 1 28 73 Marginal Cost (dollars) $25 85 64 61 1 67 77 1 Average Total Cost (dollars) $139.00 103.30 87.50 80.00 77.00 77.00 Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure...
Graphs of the cost C(x), revenue R(x) and the profit P(x), in thousands of dollars, are...
Graphs of the cost C(x), revenue R(x) and the profit P(x), in thousands of dollars, are shown, where x is the number of thousands of items produced. (a) Use the graph to find the formula for the revenue R(x). (b) The profit is given by P(x) = – x2 + 15x² - 27x- 50. What is the formula for the cost function C(x)? (c) Report the fixed costs. (d) Report the minimum marginal cost. (e) What is the largest profit...
The cost of producing q items is C(q) = 2500+ 18q dollars. (a) What is the...
The cost of producing q items is C(q) = 2500+ 18q dollars. (a) What is the marginal cost of producing the 100th item? the 1000th item? The marginal cost to produce the 100th unit is $ The marginal cost to produce the 1000th unit is $ (b) What is the average cost of producing 100 items? 1000 items? The average cost of producing 100 units is $ per unit. The average cost of producing 1000 units is $ per unit.
Let R(x), C(x), and P(x) be, respectively, the revenue, cost, and profit, in dollars, from the...
Let R(x), C(x), and P(x) be, respectively, the revenue, cost, and profit, in dollars, from the production and sale of x items. If R(x) = 5x and C(x) = 0.004x2 + 1.1x + 70, find each of the following. a) P(x) b) R(100), C(100), and P(100) c) R'(x), C'(x), and P'(x) d) R' (100), C'(100), and P'(100) a) P(x) = (Use integers or decimals for any numbers in the expression.) b) R(100) = $ (Type an integer or a decimal.)...
The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Price Quantity M...
The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Price Quantity Marginal Revenue (dollars) Demanded (dollars) $130 200 $110 120 300 90 110 400 70 100 500 SO 90 600 30 80 700 10 Marginal Cost Average Total Cost (dollars) dollars) $25 $139.00 32 103.30 40 87.50 50 8 0.00 62 77.00 77 7 7.00 What is the monopolist's profit at the profit maximizing level of output? $10,000 $50,000 $80,000 $0
The following table shows demand and marginal cost for a monopolist. Calculate marginal revenue (MR) at...
The following table shows demand and marginal cost for a monopolist. Calculate marginal revenue (MR) at each quantity. (Enter your response as an integer.) Output (units) (Q) Price per Unit (P) Marginal Revenue Marginal (MR) Cost (MC) 0 10 9 1 2 8 2 3 7 3 4 6 4 5 5 5 A profit-maximizing monopolist will produce units and set a price of $
The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a...
The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a monopolistic firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table. Quantity Total Cost Marginal Cost Marginal Revenue Price $31 29 Total Revenue $0 725 810 $50 100 25 30 27 107.5 1.5 L 17 35 25 117.5 13 40 132.5 9 23 21 19 920 945 45 50 950 192.5 7 Instructions: Enter your answers as whole numbers....
The total-cost, C(x), and total revenue, R(x), functions for producing x items are shown below, where 0 SXS 800 C(x) = 5900 + 100x and R(x) = - + 600X a) Find the total-profit function P(x). b) Find the number of items, x, for which the total profit is a maximum a) P(x) = b) The profit is maximized for a production of units
1. The graph below shows marginal cost, marginal revenue, and average total cost for a company operating in a perfectly competitive market. In the short-run, the company maximizes profit by producing at point E. Is the company productively efficient? Explain. 16 Marginal cost 14 12 10 Marginal Cost/Marginal Revenue ($) 8 6 E Average cost Marginal revenue 4 2 C' 0 0 20 40 100 120 140 60 80 Quantity
Let C(q) represent the total cost of producing items and R(q) represent the total revenue from the sale of q items. If C(125) = 1205, C'(125) = 10, R(125) = 1300, and R' (125) = 21, approximately how much additional profit is earned by the sale of the 126 item? This question should not be screenshot or publicly posted. Doing so is a violation with
The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Price Quantity Marginal Revenue (dollars) Demanded (dollars) $85 50 $85 79 150 76 250 64 67 350 521 61 450 40 55 550 1 28 73 Marginal Cost (dollars) $25 85 64 61 1 67 77 1 Average Total Cost (dollars) $139.00 103.30 87.50 80.00 77.00 77.00 Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure...
Graphs of the cost C(x), revenue R(x) and the profit P(x), in thousands of dollars, are shown, where x is the number of thousands of items produced. (a) Use the graph to find the formula for the revenue R(x). (b) The profit is given by P(x) = – x2 + 15x² - 27x- 50. What is the formula for the cost function C(x)? (c) Report the fixed costs. (d) Report the minimum marginal cost. (e) What is the largest profit...
The cost of producing q items is C(q) = 2500+ 18q dollars. (a) What is the marginal cost of producing the 100th item? the 1000th item? The marginal cost to produce the 100th unit is $ The marginal cost to produce the 1000th unit is $ (b) What is the average cost of producing 100 items? 1000 items? The average cost of producing 100 units is $ per unit. The average cost of producing 1000 units is $ per unit.
Let R(x), C(x), and P(x) be, respectively, the revenue, cost, and profit, in dollars, from the production and sale of x items. If R(x) = 5x and C(x) = 0.004x2 + 1.1x + 70, find each of the following. a) P(x) b) R(100), C(100), and P(100) c) R'(x), C'(x), and P'(x) d) R' (100), C'(100), and P'(100) a) P(x) = (Use integers or decimals for any numbers in the expression.) b) R(100) = $ (Type an integer or a decimal.)...
The table below shows the marginal revenue and costs for a monopolist. Demand, Costs, and Revenues Price Quantity Marginal Revenue (dollars) Demanded (dollars) $130 200 $110 120 300 90 110 400 70 100 500 SO 90 600 30 80 700 10 Marginal Cost Average Total Cost (dollars) dollars) $25 $139.00 32 103.30 40 87.50 50 8 0.00 62 77.00 77 7 7.00 What is the monopolist's profit at the profit maximizing level of output? $10,000 $50,000 $80,000 $0
The following table shows demand and marginal cost for a monopolist. Calculate marginal revenue (MR) at each quantity. (Enter your response as an integer.) Output (units) (Q) Price per Unit (P) Marginal Revenue Marginal (MR) Cost (MC) 0 10 9 1 2 8 2 3 7 3 4 6 4 5 5 5 A profit-maximizing monopolist will produce units and set a price of $
The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a monopolistic firm producing different quantities of chocolate gift boxes. Fill in the blanks in the table. Quantity Total Cost Marginal Cost Marginal Revenue Price $31 29 Total Revenue $0 725 810 $50 100 25 30 27 107.5 1.5 L 17 35 25 117.5 13 40 132.5 9 23 21 19 920 945 45 50 950 192.5 7 Instructions: Enter your answers as whole numbers....
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