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Hence (a) profit = $
10340
and (b) for Maximum profit 1596 units will be required.
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Like for correct answer Cost, revenue, and profit are in dollars and x is the number of units Suppose that the marginal revenue for a product is MR 2400 and the marginal cest is C: 60y4, wth a fni...
DETAILS HARMATHAPBR1 9.9.008. Cost, revenue, and profit are in dollars and x is the number of...
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(X) - 1700 + 35x + 0.01x2. (a) Find the profit from the production and sale of 500 units. $ (b) Find the marginal profit function. (c) Find MP at x = 500. on the sale of the next (501st) unit. Explain what...
QUESTION ONE A. Suppose the marginal cost and marginal revenue (in ¢000) for a product produced...
QUESTION ONE A. Suppose the marginal cost and marginal revenue (in ¢000) for a product produced by a company is estimated to be MC = q +35 MR = 560 + 22q-q? Where q is the quantity produced and the firm's break-even is 5 units per week You are Required to 1. determine the total cost and the total revenue function in terms of q. (6 marks) II. estimate the output at which profit is maximize (6 marks) III. calculate...
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...
Total revenue is in dollars and x is the number of units. time left... 7:43:29 Suppose...
Total revenue is in dollars and x is the number of units. time left... 7:43:29 Suppose that the total revenue function for a commodity is R = 64x - 0.02x2. (a) Find R(100) $ Tell what it represents. The revenue increases by about this amount when the number of units is increased from 100 to 101. 100 units produce this amount of revenue. 101 units produce this amount of revenue. The actual revenue of the 100th unit is this amount....
please do all three parts:)thanks a ton Cost, revenue, and profit are in dollars and x...
please do all three
parts:)thanks a ton
Cost, revenue, and profit are in dollars and x is the number of units. The average cost of a product changes at the rate C'(x) = -8x-2 + and the average cost of 8 units is $12.00. (a) Find the average cost function. T(X) = (b) Find the average cost of 16 units. (Round your answer to the nearest cent.) Cost, revenue, and profit are in dollars and x is the number of...
Table 3 Again, it's a new price so only the Total Revenue, Marginal Revenue, and Profit/Loss...
Table 3 Again, it's a new price so only the Total Revenue, Marginal Revenue, and Profit/Loss calculations will change. You can just copy all of the costs columns from a previous Table. Price = Total Product 32 Fixed Cost Variable Cost Total Cost Average Variable Marginal Cost Cost Total Marginal Revenue Revenue Profit or Loss ||||||||||| III LIITTI What is the optimum level of production in units? What is the profit or loss at this point? Should this company produce?...
18. A certain firm's marginal cost for a product is MC = 4x+80, its marginal revenue...
18. A certain firm's marginal cost for a product is MC = 4x+80, its marginal revenue is MR = 248-8x, and its total cost of production of 14 units is $ 1632 Find the profit function P.
1)A linear cost function is C(x) = 6x + 450. (Assume C is measured in dollars.)...
1)A linear cost function is C(x) = 6x + 450. (Assume C is measured in dollars.) (a) What are the slope and the C-intercept? slope C-intercept (b) What is the marginal cost MC ? MC= What does the marginal cost mean? Each additional unit produced costs this much (in dollars). If production is increased by this many units, the cost decreases by $1. Each additional unit produced reduces the cost by this much (in dollars). If production is increased...
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...
The marginal revenue for x of a certain industrial machine is dollars per year and the...
The marginal revenue for x of a certain industrial machine is dollars per year and the marginal cost of the industrial machines is dollars per year. Find the Marginal Profit for 4 industrial machines. Interpret MP(4) in economic terms. Sketch a graph of the marginal profit function. Carefully label the function and the y intercept. Meaningfully label the x and y axes. On the above graph, shade the area that represents the profit generated from the production and sale of...
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(X) - 1700 + 35x + 0.01x2. (a) Find the profit from the production and sale of 500 units. $ (b) Find the marginal profit function. (c) Find MP at x = 500. on the sale of the next (501st) unit. Explain what...
QUESTION ONE A. Suppose the marginal cost and marginal revenue (in ¢000) for a product produced by a company is estimated to be MC = q +35 MR = 560 + 22q-q? Where q is the quantity produced and the firm's break-even is 5 units per week You are Required to 1. determine the total cost and the total revenue function in terms of q. (6 marks) II. estimate the output at which profit is maximize (6 marks) III. calculate...
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...
Total revenue is in dollars and x is the number of units. time left... 7:43:29 Suppose that the total revenue function for a commodity is R = 64x - 0.02x2. (a) Find R(100) $ Tell what it represents. The revenue increases by about this amount when the number of units is increased from 100 to 101. 100 units produce this amount of revenue. 101 units produce this amount of revenue. The actual revenue of the 100th unit is this amount....
please do all three
parts:)thanks a ton
Cost, revenue, and profit are in dollars and x is the number of units. The average cost of a product changes at the rate C'(x) = -8x-2 + and the average cost of 8 units is $12.00. (a) Find the average cost function. T(X) = (b) Find the average cost of 16 units. (Round your answer to the nearest cent.) Cost, revenue, and profit are in dollars and x is the number of...
Table 3 Again, it's a new price so only the Total Revenue, Marginal Revenue, and Profit/Loss calculations will change. You can just copy all of the costs columns from a previous Table. Price = Total Product 32 Fixed Cost Variable Cost Total Cost Average Variable Marginal Cost Cost Total Marginal Revenue Revenue Profit or Loss ||||||||||| III LIITTI What is the optimum level of production in units? What is the profit or loss at this point? Should this company produce?...
18. A certain firm's marginal cost for a product is MC = 4x+80, its marginal revenue is MR = 248-8x, and its total cost of production of 14 units is $ 1632 Find the profit function P.
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...
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