Calculus
You are given the price p(q) at which qunits of a particular commodity can be sold and the total cost C(q)of producing the q units. Find the revenue functionR(q), the profit function P(q), the marginal revenue R’(q),and marginal cost C’(q). Sketch the graphsof P(q),R’(q), and C’(q) on the same coordinate axes anddetermine the level of production q where P(q) ismaximized.
p(q) = 710 - 1.1q2 ;C(q) = 2q3 -23q2 + 90.7q + 151
Homework Answers
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Financial Mathematics Please answer question 4 and question 5 o)23:30 Oe Image Edit View Go Help En Question 4 The total cost of producing x units of a commodity per week is C(x) 200 +4x +0,1x2 (a) Fi...
Financial Mathematics
Please answer question 4 and question 5
o)23:30 Oe Image Edit View Go Help En Question 4 The total cost of producing x units of a commodity per week is C(x) 200 +4x +0,1x2 (a) Find the marginal cost when the production level is 100 units. (b) Use the marginal cost to approximate the cost of producing the 101 st unit. (c) Find the exact cost of producing the 101 st unit. (d) Assuming that the commodity is...
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...
(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...
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...
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...
14. Suppose that when the price of a certain commodity is p dollars per unit, then...
14. Suppose that when the price of a certain commodity is p dollars per unit, then x hundred units will be purchased by consumers, where = -0.05 x + 38 The cost of producing x hundred units is hundred dollars is C(x) = 0.02x2 + 3x + 574.77 hundred dollars a. Express the profit P obtained from the sale of x hundred units as a function of x. Sketch the graph of the profit function. b. Use the profit curve...
The cost to produce q electric cat brushes is described by the function: C(q)= 10q^2+250q, where...
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(1)A firm in a perfectly competitive market sells all its product (Q) at a constant price...
(1)A firm in a perfectly competitive market sells all its product (Q) at a constant price (P) of $60. Suppose the total cost function (TC) for this firm is described by the following equation: 2 3 Q TC(Q) = 128 +690-140 (a)Form the profit function and determine the output that maximizes the firm's profit. Evaluate the second order condition to assure that profit is maximized at this level of output. (b)Derive the marginal revenue (MR) and the marginal cost(MC). Graph...
Question 2 [20 marks] = Given that the price of the product is P(Q) 4000 –...
Question 2 [20 marks] = Given that the price of the product is P(Q) 4000 – 33Q and the Marginal Cost function of producing the same product is C' = 602 – 6Q + 400. Assuming Q> 0. a) Find the revenue and marginal revenue function of the production in term of Q. (3 Marks) b) Find the total cost function if the fixed cost of the production is RM5000. (4 Marks) c) Interpret the result of the marginal profit...
In a monopolistic competitive market for blood pressure monitor, suppose the market demand function for the monitor is P=160 – 3Q, where P is the price for monitor, Q and the quantity of monitor dema...
In a monopolistic competitive market for blood pressure monitor, suppose the market demand function for the monitor is P=160 – 3Q, where P is the price for monitor, Q and the quantity of monitor demanded. Marginal cost of producing it is MC: P = 20 + Q, where P is the price of the monitor and Q is the quantity of the monitor sold. Use the Twice as Steep Rule, form the marginal revenue function. What are the price and...
Financial Mathematics
Please answer question 4 and question 5
o)23:30 Oe Image Edit View Go Help En Question 4 The total cost of producing x units of a commodity per week is C(x) 200 +4x +0,1x2 (a) Find the marginal cost when the production level is 100 units. (b) Use the marginal cost to approximate the cost of producing the 101 st unit. (c) Find the exact cost of producing the 101 st unit. (d) Assuming that the commodity is...
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...
(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...
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...
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...
14. Suppose that when the price of a certain commodity is p dollars per unit, then x hundred units will be purchased by consumers, where = -0.05 x + 38 The cost of producing x hundred units is hundred dollars is C(x) = 0.02x2 + 3x + 574.77 hundred dollars a. Express the profit P obtained from the sale of x hundred units as a function of x. Sketch the graph of the profit function. b. Use the profit curve...
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...
(1)A firm in a perfectly competitive market sells all its product (Q) at a constant price (P) of $60. Suppose the total cost function (TC) for this firm is described by the following equation: 2 3 Q TC(Q) = 128 +690-140 (a)Form the profit function and determine the output that maximizes the firm's profit. Evaluate the second order condition to assure that profit is maximized at this level of output. (b)Derive the marginal revenue (MR) and the marginal cost(MC). Graph...
Question 2 [20 marks] = Given that the price of the product is P(Q) 4000 – 33Q and the Marginal Cost function of producing the same product is C' = 602 – 6Q + 400. Assuming Q> 0. a) Find the revenue and marginal revenue function of the production in term of Q. (3 Marks) b) Find the total cost function if the fixed cost of the production is RM5000. (4 Marks) c) Interpret the result of the marginal profit...
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