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A company's revenue, in dollars, as a function of a quantity q is given by R(q)...
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?...
Exercise 5 The curve S represents the revenue, in dollars, of an agrobusiness as a function...
Exercise 5 The curve S represents the revenue, in dollars, of an agrobusiness as a function of the quantity q of potatoes produced, in tons. The line represents the cost of production, in dollars, as a function of the quantity q. Dollars. 100 000 50 000 1 500 1 000 500 1. Find a formula for the profit function. 2. Find the maximum profit. [0005
Exercise 5 The curve S represents the revenue, in dollars, of an agrobusiness as a...
17) A manufacturer estimates marginal revenue to be R'(q) = 52q-1/2 dollars per unit when the...
17) A manufacturer estimates marginal revenue to be R'(q) = 52q-1/2 dollars per unit when the level of production is q units. The corresponding marginal cost has been found to be 0.29 dollars per unit. Suppose the manufacturer's profit is $500 when the level of production is 16 units. What is the manufacturer's profit when the level of production is 49 units? A) $7.43 B) $506.60 C) $378.30 D) $597.50
please help explain how to work these problems, Suppose a product's revenue function is given by...
please help explain how to work these problems,
Suppose a product's revenue function is given by R(q) = – 8q2 + 800q, where R(q) is in dollars and q is the number of units sold. Use the marginal revenue function to find the approximate revenue generated by selling the 39th unit. Marginal revenue = -624 ]* Preview dollars per unit Suppose a product's cost function is given by C(q) = -4q2 + 6000, where C(q) is in dollars and q...
The demand function for specialty steel products is given, where p is in dollars and q...
The demand function for
specialty steel products is given, where p is in dollars and q is
the number of units. p = 150 3 130 − q (a) Find the elasticity of
demand as a function of the quantity demanded, q. η = (b) Find the
point at which the demand is of unitary elasticity. q = Find
intervals in which the demand is inelastic and in which it is
elastic. (Enter your answers using interval notation.) inelastic
elastic...
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...
The revenue and cost functions for a particular product are given below.
The revenue and cost functions for a particular product are given below. The cost and revenue are given in dollars, and x represents the number of unitsR(x)=-0.8x2+608xC(x)=256x+36720(a) How many items must be sold to maximize the revenue?(b) What is the maximum revenue?(c) Find the profit function.(d) How many items must be sold to maximize the profit?(e) What is the maximum profit?(f) At what production level(s) will the company break even on this product?
FIND F AND G USING SECOND IMAGE. FIND A (EXACT VALUE OF Q)
FIND F AND G USING SECOND
IMAGE. FIND A (EXACT VALUE OF Q)
(f) What production level q offers the largest profit for the company. (Make sure you actually show that q is a global maximum using the Second Derivative Test, and do not worry if q is not an integer value. Do not forget to check the production levels q-0 and q-700.) g) (If needed, round down the value of q obtained in (f) to the nearest integer.) What...
SHOW ALL YOUR WORK AND WRITE DOWN VERY NEATLY 2. The revenue R, in thousands of dollars, from producing and selling σ hundred LCD TVs is given by R(a)--5z? + 35a2 + 155z for 0 < π < 10.07 a. Us...
SHOW ALL YOUR WORK AND WRITE DOWN VERY NEATLY
2. The revenue R, in thousands of dollars, from producing and selling σ hundred LCD TVs is given by R(a)--5z? + 35a2 + 155z for 0 < π < 10.07 a. Use a graphing utility to graph y - R(r) and determine the number of TVs which should be sold to maximize revenue. What is the maximum revenue? Why does this amount produce maximum revenue? b. Assume that the cost, in...
linear revenue function is R = 34x. (Assume R is measured in dollars.) (a) What is...
linear revenue function is R = 34x. (Assume R is measured in dollars.) (a) What is the slope m? m = (b) What is the marginal revenue MR? MR = What does the marginal revenue mean? 0 If the number of units sold is increased by this amount, the revenue decreases by O If the number of units sold is increased by this amount, the revenue increases by O Each additional unit sold decreases the revenue by this many dollars....
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?...
Exercise 5 The curve S represents the revenue, in dollars, of an agrobusiness as a function of the quantity q of potatoes produced, in tons. The line represents the cost of production, in dollars, as a function of the quantity q. Dollars. 100 000 50 000 1 500 1 000 500 1. Find a formula for the profit function. 2. Find the maximum profit. [0005
Exercise 5 The curve S represents the revenue, in dollars, of an agrobusiness as a...
17) A manufacturer estimates marginal revenue to be R'(q) = 52q-1/2 dollars per unit when the level of production is q units. The corresponding marginal cost has been found to be 0.29 dollars per unit. Suppose the manufacturer's profit is $500 when the level of production is 16 units. What is the manufacturer's profit when the level of production is 49 units? A) $7.43 B) $506.60 C) $378.30 D) $597.50
please help explain how to work these problems,
Suppose a product's revenue function is given by R(q) = – 8q2 + 800q, where R(q) is in dollars and q is the number of units sold. Use the marginal revenue function to find the approximate revenue generated by selling the 39th unit. Marginal revenue = -624 ]* Preview dollars per unit Suppose a product's cost function is given by C(q) = -4q2 + 6000, where C(q) is in dollars and q...
The demand function for
specialty steel products is given, where p is in dollars and q is
the number of units. p = 150 3 130 − q (a) Find the elasticity of
demand as a function of the quantity demanded, q. η = (b) Find the
point at which the demand is of unitary elasticity. q = Find
intervals in which the demand is inelastic and in which it is
elastic. (Enter your answers using interval notation.) inelastic
elastic...
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...
FIND F AND G USING SECOND
IMAGE. FIND A (EXACT VALUE OF Q)
(f) What production level q offers the largest profit for the company. (Make sure you actually show that q is a global maximum using the Second Derivative Test, and do not worry if q is not an integer value. Do not forget to check the production levels q-0 and q-700.) g) (If needed, round down the value of q obtained in (f) to the nearest integer.) What...
SHOW ALL YOUR WORK AND WRITE DOWN VERY NEATLY
2. The revenue R, in thousands of dollars, from producing and selling σ hundred LCD TVs is given by R(a)--5z? + 35a2 + 155z for 0 < π < 10.07 a. Use a graphing utility to graph y - R(r) and determine the number of TVs which should be sold to maximize revenue. What is the maximum revenue? Why does this amount produce maximum revenue? b. Assume that the cost, in...
linear revenue function is R = 34x. (Assume R is measured in dollars.) (a) What is the slope m? m = (b) What is the marginal revenue MR? MR = What does the marginal revenue mean? 0 If the number of units sold is increased by this amount, the revenue decreases by O If the number of units sold is increased by this amount, the revenue increases by O Each additional unit sold decreases the revenue by this many dollars....
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