Homework Help is Here – Start Your Trial Now!
Math
Advanced Math
1. Digicel's profit function for the sale of S21 is as follows: л(q)=-2q²+350q - 150 The selling price per S21 is given by the function: p = 600 - 2q Where q represents the number of S21 (in thousands), cost and revenue are in thousand of dollars. Using the information provided above, determine the following: a. Total Cost function. b. Marginal Cost (MC) when 4000 S21 are produced. c. Give an interpretation of your answer from Part b. above. d. The number of S21 that must be sold for Digicel to make a Marginal Revenue (MR) of $300,000.00. e. At what level of quantity will the firm maximize its profit.

1. Digicel's profit function for the sale of S21 is as follows: л(q)=-2q²+350q - 150 The selling price per S21 is given by the function: p = 600 - 2q Where q represents the number of S21 (in thousands), cost and revenue are in thousand of dollars. Using the information provided above, determine the following: a. Total Cost function. b. Marginal Cost (MC) when 4000 S21 are produced. c. Give an interpretation of your answer from Part b. above. d. The number of S21 that must be sold for Digicel to make a Marginal Revenue (MR) of $300,000.00. e. At what level of quantity will the firm maximize its profit.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
See similar textbooks
icon
Related questions
Question
1. Digicel's profit function for the sale of S21 is as follows: л(q)=-2q²+350q - 150 The selling price per S21 is given by the function: p = 600 - 2q Where q represents the number of S21 (in thousands), cost and revenue are in thousand of dollars. Using the information provided above, determine the following: a. Total Cost function. b. Marginal Cost (MC) when 4000 S21 are produced. c. Give an interpretation of your answer from Part b. above. d. The number of S21 that must be sold for Digicel to make a Marginal Revenue (MR) of $300,000.00. e. At what level of quantity will the firm maximize its profit.
Transcribed Image Text:1. Digicel's profit function for the sale of S21 is as follows: л(q)=-2q²+350q - 150 The selling price per S21 is given by the function: p = 600 - 2q Where q represents the number of S21 (in thousands), cost and revenue are in thousand of dollars. Using the information provided above, determine the following: a. Total Cost function. b. Marginal Cost (MC) when 4000 S21 are produced. c. Give an interpretation of your answer from Part b. above. d. The number of S21 that must be sold for Digicel to make a Marginal Revenue (MR) of $300,000.00. e. At what level of quantity will the firm maximize its profit.
Expert Solution
steps

Step by step

Solved in 2 steps with 3 images

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Recommended textbooks for you
Advanced Engineering Mathematics
Advanced Engineering Mathematics
Advanced Math
ISBN:
9780470458365
Author:
Erwin Kreyszig
Publisher:
Wiley, John & Sons, Incorporated
Numerical Methods for Engineers
Numerical Methods for Engineers
Advanced Math
ISBN:
9780073397924
Author:
Steven C. Chapra Dr., Raymond P. Canale
Publisher:
McGraw-Hill Education
Introductory Mathematics for Engineering Applicat…
Introductory Mathematics for Engineering Applicat…
Advanced Math
ISBN:
9781118141809
Author:
Nathan Klingbeil
Publisher:
WILEY
Mathematics For Machine Technology
Mathematics For Machine Technology
Advanced Math
ISBN:
9781337798310
Author:
Peterson, John.
Publisher:
Cengage Learning,
Basic Technical Mathematics
Basic Technical Mathematics
Advanced Math
ISBN:
9780134437705
Author:
Washington
Publisher:
PEARSON
Topology
Topology
Advanced Math
ISBN:
9780134689517
Author:
Munkres, James R.
Publisher:
Pearson,
SEE MORE TEXTBOOKS