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Exercise 5 The curve S represents the revenue, in dollars, of an agrobusiness as a function...
A company's revenue, in dollars, as a function of a quantity q is given by R(q)...
A company's revenue, in dollars, as a function of a quantity q is given by R(q) = 909 - 39" 1. Find the marginal revenue function and use it to find the production level that will maximize revenue. (Select] 2. What is the maximum revenue? (Select] Previous
Because the derivative of a function represents both the slope of the tangent to the curve...
Because the derivative of a function represents both the slope of the tangent to the curve and the instantaneous rate of change of the function, it is possible to use information about one to gain information about the other. Consider the graph of the function y = f(x) given in the figure. (a) Over what interval(s) (a) through (d) is the rate of change of f(x) positive? (Select all that apply.) OOOO (b) Over what interval(s) (a) through (d) is...
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...
Increasing Opportunity Costs Exercise 1 Ireland and Scotland both produce potatoes and sausages. The table be...
Increasing Opportunity Costs Exercise 1 Ireland and Scotland both produce potatoes and sausages. The table be their production possibilities schedules Production Possibilities Schedules Ireland Scotland Potatoes (tons) Sausages (tons) 150 120 90 60 Potatoes (tons) Sausages (tons) Book 0 0 100 200 300 400 50 100 150 200 160 120 80 erences 30 200 250 40 500 0 0 a. If the two countries decided to combine their resources, what is the maximum amount of potatoes the two countries could...
The total revenue function for a certain product is given by Requals=440440x dollars, and the total cost function for this product is Cequals=20 comma 00020,000plus+4040xplus+x squaredx2 dollars, wh...
The total revenue function for a certain product is given by Requals=440440x dollars, and the total cost function for this product is Cequals=20 comma 00020,000plus+4040xplus+x squaredx2 dollars, where x is the number of units of the product that are produced and sold. a. Find the profit function. b. Find the number of units that gives maximum profit. c. Find the maximum possible profit.
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...
Marginal Marginal private cost external cost social cost Marginal Quantity (tons of paper) (dollars) (dollars) (dollars)...
Marginal Marginal private cost external cost social cost Marginal Quantity (tons of paper) (dollars) (dollars) (dollars) 100 10 5 200 20 10 300 30 15 400 40 20 500 50 25 1) The table above gives the private costs and external costs of producing paper. Complete the table by finding the marginal social cost at each level of production. b. If the market is al competitive and is left unregulated and 400 tons of paper are produced, what is the...
The total revenue function for a certain product is given by The total revenue function for...
The total revenue function for a certain product is given by
The total revenue function for a certain product is given by R=630x dollars, and the total cost function for this product is C = 10,000+ 30x + x2 dollars, where x is the number of units of the product that are produced and sold. a. Find the profit function. b. Find the number of units that gives maximum profit. c. Find the maximum possible profit. a. P(x)= (Simplify your...
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....
Exercise 2. A monopolist faces the following demand curve: Q 10,000 100P Where Q is the...
Exercise 2. A monopolist faces the following demand curve: Q 10,000 100P Where Q is the weekly production and P is the price, measured in S/unit. The firm's cost function is given by C 50Q 30,000. Assuming the firm maximizes profits a. Find the equation describing the marginal revenue curve b. What is the level of production, price, and total profit per week? c. If the government decides to levy a tax of 10 $/unit on this product, what will...
A company's revenue, in dollars, as a function of a quantity q is given by R(q) = 909 - 39" 1. Find the marginal revenue function and use it to find the production level that will maximize revenue. (Select] 2. What is the maximum revenue? (Select] Previous
Because the derivative of a function represents both the slope of the tangent to the curve and the instantaneous rate of change of the function, it is possible to use information about one to gain information about the other. Consider the graph of the function y = f(x) given in the figure. (a) Over what interval(s) (a) through (d) is the rate of change of f(x) positive? (Select all that apply.) OOOO (b) Over what interval(s) (a) through (d) is...
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...
Increasing Opportunity Costs Exercise 1 Ireland and Scotland both produce potatoes and sausages. The table be their production possibilities schedules Production Possibilities Schedules Ireland Scotland Potatoes (tons) Sausages (tons) 150 120 90 60 Potatoes (tons) Sausages (tons) Book 0 0 100 200 300 400 50 100 150 200 160 120 80 erences 30 200 250 40 500 0 0 a. If the two countries decided to combine their resources, what is the maximum amount of potatoes the two countries could...
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...
Marginal Marginal private cost external cost social cost Marginal Quantity (tons of paper) (dollars) (dollars) (dollars) 100 10 5 200 20 10 300 30 15 400 40 20 500 50 25 1) The table above gives the private costs and external costs of producing paper. Complete the table by finding the marginal social cost at each level of production. b. If the market is al competitive and is left unregulated and 400 tons of paper are produced, what is the...
The total revenue function for a certain product is given by
The total revenue function for a certain product is given by R=630x dollars, and the total cost function for this product is C = 10,000+ 30x + x2 dollars, where x is the number of units of the product that are produced and sold. a. Find the profit function. b. Find the number of units that gives maximum profit. c. Find the maximum possible profit. a. P(x)= (Simplify your...
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....
Exercise 2. A monopolist faces the following demand curve: Q 10,000 100P Where Q is the weekly production and P is the price, measured in S/unit. The firm's cost function is given by C 50Q 30,000. Assuming the firm maximizes profits a. Find the equation describing the marginal revenue curve b. What is the level of production, price, and total profit per week? c. If the government decides to levy a tax of 10 $/unit on this product, what will...
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