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2. The graph below show the revenue and cost functions for a jewelry maker. Price is...
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?
16.6 AmeriCam manufactures and sells motion picture cameras. The graph of the revenue and cost functions for the pr...
16.6 AmeriCam manufactures and sells motion picture cameras. The graph of the revenue and cost functions for the production and sale of 3 cameras are shown below. Both cost and revenue are in dollars. Revenue/Cost 18000 15000 12000 9000 6000 3000 Cameras Sold 1 10 20 30 40 50 60 70 80 90 100 (a) At what production/sales level does the maximum profit occur? Answer with units: (b) According to the graph, what is the maximum profit? Answer with units:...
please show ALL STEPS and box answers, will thumbs up, Thanks! The price-demand and cost functions...
please show ALL STEPS and box answers, will thumbs up,
Thanks!
The price-demand and cost functions for the production of microwaves are given as 2 p=220 - 50 and C(2) = 16000 + 802, where x is the number of microwaves that can be sold at a price of p dollars per unit and C(x) is the total cost (in dollars) of producing a units. (A) Find the marginal cost as a function of x. C'(x) = 80 (B) Find...
(1 point) The price-demand and cost functions for the production of microwaves are given as P=240-...
(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...
5-7 please The following table gives the weekly revenue and cost respectively, for selected numbers of...
5-7 please
The following table gives the weekly revenue and cost respectively, for selected numbers of units of produc- tion and sale of a product by the Quest Manufacturing Company. 3. Find the number of units of this product that must be produced and sold to break even 4. Find the maximum possible profit and the number of units that gives the maximum profit. 5. a. Use operations with functions to create the average cost function for the product. b....
The total revenue function for a product is given by R=655x dollars, and the total cost...
The total revenue function for a product is given by R=655x dollars, and the total cost function for this same product is given by C=19,250+70x+x2, where C is measured in dollars. For both functions, the input x is the number of units produced and sold. a. Form the profit function for this product from the two given functions. b. What is the profit when 25 units are produced and sold? c. What is the profit when 43 units are produced...
Use the revenue and cost functions below, to answer parts (C) Choose the best graph of...
Use the revenue and cost functions below, to answer parts (C) Choose the best graph of the profit function using the (A). (8), and (C) points from the table Rx)-75x-3x2 1sxs20 C(x)-120 + 14x 1 SX%20 OA. (A) What is the profit function? 24 200 What is the domain of the profit function? O D. Ос. A. [O,1801 B. [0.75] OC. 11.20] 200- O D. 0.20] (B) Complete the table -200 -200」 Profit Millions) Pix) (Milions ) 62 12 16...
Demand and Cost Functions For the perfectly competitive firm, a price taker such that MR-P-Ave.Rev (AR)...
Demand and Cost Functions For the perfectly competitive firm, a price taker such that MR-P-Ave.Rev (AR) 70 What is the profit maximizing quantity? 1) 65 60 27 What is the price? 55 3) What is average total cost at the profit maximizing quantity? 50 45 4 What, then, is per unit profit at the profit maximizing quantity? 40 МС What is total revenue at the profit maximizing quantity? 5) 35 ATC AVC What is total cost at the profit maximizing...
Refer to the graph below: Price or Cost (dollars per unit) Demand ML 2 4 6...
Refer to the graph below: Price or Cost (dollars per unit) Demand ML 2 4 6 8 10 12 14 16 18 Quantity (units per period) Instructions: Enter your responses as a whole number a. b. Identify the short-run equilibrium of a monopolistically competitive firm. (Hint Think about the difference between "initial' and later' demand.) At that equilibrium, what is: Price? (ii) Output? D units Cili) Total Profit? $ profit c, d. Identify the long-run equilibrium of the same firm....
Using the graph photo provided, make a graph just like the photo assuming the price of...
Using the graph photo provided, make a graph just like the photo
assuming the price of the good sold is equal to $25. Show where the
break even point is in the area that represents profit. Use the
following charts to help you.
FIGURE 6.8 Break-Even Chart: Martin Company The break-even point-the output level that must be reached if the firm is to avnid losses-is 600,000 units of output per month. Total revenue or total cost 2,400 (thousands of dollars)...
16.6 AmeriCam manufactures and sells motion picture cameras. The graph of the revenue and cost functions for the production and sale of 3 cameras are shown below. Both cost and revenue are in dollars. Revenue/Cost 18000 15000 12000 9000 6000 3000 Cameras Sold 1 10 20 30 40 50 60 70 80 90 100 (a) At what production/sales level does the maximum profit occur? Answer with units: (b) According to the graph, what is the maximum profit? Answer with units:...
please show ALL STEPS and box answers, will thumbs up,
Thanks!
The price-demand and cost functions for the production of microwaves are given as 2 p=220 - 50 and C(2) = 16000 + 802, where x is the number of microwaves that can be sold at a price of p dollars per unit and C(x) is the total cost (in dollars) of producing a units. (A) Find the marginal cost as a function of x. C'(x) = 80 (B) Find...
(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...
5-7 please
The following table gives the weekly revenue and cost respectively, for selected numbers of units of produc- tion and sale of a product by the Quest Manufacturing Company. 3. Find the number of units of this product that must be produced and sold to break even 4. Find the maximum possible profit and the number of units that gives the maximum profit. 5. a. Use operations with functions to create the average cost function for the product. b....
Use the revenue and cost functions below, to answer parts (C) Choose the best graph of the profit function using the (A). (8), and (C) points from the table Rx)-75x-3x2 1sxs20 C(x)-120 + 14x 1 SX%20 OA. (A) What is the profit function? 24 200 What is the domain of the profit function? O D. Ос. A. [O,1801 B. [0.75] OC. 11.20] 200- O D. 0.20] (B) Complete the table -200 -200」 Profit Millions) Pix) (Milions ) 62 12 16...
Demand and Cost Functions For the perfectly competitive firm, a price taker such that MR-P-Ave.Rev (AR) 70 What is the profit maximizing quantity? 1) 65 60 27 What is the price? 55 3) What is average total cost at the profit maximizing quantity? 50 45 4 What, then, is per unit profit at the profit maximizing quantity? 40 МС What is total revenue at the profit maximizing quantity? 5) 35 ATC AVC What is total cost at the profit maximizing...
Refer to the graph below: Price or Cost (dollars per unit) Demand ML 2 4 6 8 10 12 14 16 18 Quantity (units per period) Instructions: Enter your responses as a whole number a. b. Identify the short-run equilibrium of a monopolistically competitive firm. (Hint Think about the difference between "initial' and later' demand.) At that equilibrium, what is: Price? (ii) Output? D units Cili) Total Profit? $ profit c, d. Identify the long-run equilibrium of the same firm....
Using the graph photo provided, make a graph just like the photo
assuming the price of the good sold is equal to $25. Show where the
break even point is in the area that represents profit. Use the
following charts to help you.
FIGURE 6.8 Break-Even Chart: Martin Company The break-even point-the output level that must be reached if the firm is to avnid losses-is 600,000 units of output per month. Total revenue or total cost 2,400 (thousands of dollars)...
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