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- The profit (in dollars) from the sale of x lawn mowers is P(x)= 20x - 0.02x^2 - 650 (A) Find the average profit per mower if 60 mowers are produced (B) Find the marginal average profit at production level of 60 mowers, and interpret results (C)Use the results from parts A and B to estimate the average profit per mower if 61 mowers are produced (Average Total Cost (Dollars per bike) QQ = 100 QQ = 200 QQ = 300 QQ = 400 QQ = 500 QQ = 600 1 140 60 40 80 160 320 2 230 110 40 40 110 230 3 320 160 80 40 60 140The regular air fare between Boston and San Francisco is 419. An airline using planes on this route observes that they fly with an average of 236 passengers. Market research tells the airlines’ managers that each $7 fare reduction would attract, on average, 3 more passengers for each flight. How should they set the fare to maximize their revenue?
- An entrepreneur intends to sell his product for 6.4$ each. The daily cost or expenses can be expressed as x+9.1+.11x^2, where x is the no. of product sold daily. Find the no. of products that will maximize the profit per day.Problem # 4 Rail Tours, Inc., sells packaged tours on rail lines, including gourmet meals and a reserved bed. The most popular tours are in the autumn, when foliage colors are at their peak. The overnight package for Saturday and Sunday morning are especially heavily booked. A market survey firm has just completed a study in which they conclude that if the package cost is $200 per couple, then Rail Tours can expect to sell 400 spaces on a typical Saturday. If the price is raised to $225, then unit sales will drop to 390. If the price is raised further to $250, unit sales drop to 380. a) From the data given, write down the demand equation and determine its intercepts. Are there any precautions needed when operating at the extreme ends of the demand curve? b) The survey firm also reports that if per capita income changes, Rail Tours can expect a large change in bookings. In particular, if per capita income falls by 1%, then bookings will tend to fall by about 2%. Are tour packages…Round off your final answer to whole #. A company produces and sells a consumer product and is able to control the demand by varying the selling price. The approximate relationship between price and demand is p=45 + 2700/D - 5000/D2 for D > 1 The company is seeking to maximize its profit. The fixed cost is $1,000 and the variable cost is $38 per unit. What is the number of units that should be produced and sold each month to maximize profit?
- Q7: Please show exact detailed steps for each problemAssume TC = 400 + 2Q3 What is the marginal cost at the 4th unit? Enter as a value.A company has established that the relationship between the sales price for one of its products and the quantity sold per month is approximately p = 75 – 0.1D units (D is the demand or quantity sold per month and p is the price in dollars). The fixed cost is $1,000 per month and the variable cost is $30 per unit produced. Solve, a. What is the maximum profit per month related to thisproduct? b. What is the range of profitable demand during a month?
- Business group Business Unity South Africa (BUSA) has written to Transport minister Fikile Mbalula requesting he makes changes to South Africa’s regulations around the transportation of logistics containers. According to BUSA, Regulation 224 (b) of the National Road Traffic Act currently prohibits the transportation of high cube containers on South African roads. “High cube containers constitute the overwhelming majority of containers currently manufactured and transported internationally – including in neighbouring states,” it said. “However, the combined height of a vehicle transporting a high cube container is currently 4.6 metres – 300mm above the legal limit.” Despite several years of industry engaging the Department of Transport on the matter, as well as moratoriums being issued, no progress has yet been forthcoming on fundamentally resolving the issue, the group said. “This regulatory anomaly puts South Africa’s trade and logistics regime out of step with international and…Business group Business Unity South Africa (BUSA) has written to Transport minister Fikile Mbalula requesting he makes changes to South Africa’s regulations around the transportation of logistics containers. According to BUSA, Regulation 224 (b) of the National Road Traffic Act currently prohibits the transportation of high cube containers on South African roads. “High cube containers constitute the overwhelming majority of containers currently manufactured and transported internationally – including in neighbouring states,” it said. “However, the combined height of a vehicle transporting a high cube container is currently 4.6 metres – 300mm above the legal limit.” Despite several years of industry engaging the Department of Transport on the matter, as well as moratoriums being issued, no progress has yet been forthcoming on fundamentally resolving the issue, the group said. “This regulatory anomaly puts South Africa’s trade and logistics regime out of step with international and…FG Manufacturers wants to determine the effectiveness of their pricing decisions for their product Lylo. As a consultant, you have been asked to develop cost functions that will assist in arriving at the optimal price that will enable the company to maximize profits. During the year, you were provided with the following demand and costs functions for the product: P = 400 – 6Q; where P is the unit selling price and Q is quantity in thousands of units. TC = 8Q2 + 36Q + 150; where TC is total cost in thousands of dollars. Determine the optimal sales revenue. Calculate the maximum profit. Briefly outline two (2) factors to be considered by managementswhen pricing decisions are being made.
