A firm faces the demand schedule = 0.69 and the total cost function TC = 40 + 30q + 0.4q². %3D (a) What output will maximize profit? (b) What output will maximize total revenue? E) What will the output be if the firm makes a profit of £4,760?
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- The revenue and cost functions for a particular product are given below. The cost and revenue are given in dollars, and xrepresents the number of units . R(x) = −0.2x2 + 172x C(x) = 78x + 10065 (a) How many items must be sold to maximize the revenue?(b) What is the maximum revenue?A firm's total revenues depend on the amount produced (q) according to the function R=240 q-q^(2) Total costs also depend on q:C=q^(2)+60 q+120 a) What level of output should the firm produce in order to maximize profits? What will profits be? b) Show that the second order conditions for a maximum are satisfied at the output level found in part b) Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.Please no written by hand and no emage Suppose that a company that makes and sells hand-crafted artwork has a cost function C(x) = 24x + 300, where x is the number of items made, and a revenue function R(x) = 45x, where x is the number of items sold. What is the profit from the 28th item made and sold? There is a $ sign listed next to the answer box, so do not type a $ sign in your answer.
- A company is planning to manufacture PDAs personal digital assistants. The fixed cost will be $400,000 and it will cost $20 to produce each PDA. Each PDA will be sold for $100.a. Write the cost function, C, of producing x PDAs.b. Write the revenue function, R, from the sale of x PDAs.c. Write the profit function, P, from producing and selling x PDAs.d. Determine the break-even point. Describe what this means.Suppose a company has fixed costs of $1500 and variable costs of (3/4)x + 1120 dollars per unit, where x is the total number of units produced. Suppose further that the selling price of its product is 1200 − (1/4)x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.)x = (b) Find the maximum revenue. (Round your answer to the nearest cent)$ (c) Form the profit function, P(x), from the cost and revenue functions.P(x) = Find maximum profit. (Round your answer to the nearest cent.)$ (d) What price will maximize the profit? (Round your answer to the nearest cent.)Suppose a company has fixed costs of $300 and variable costs of 3/4 x+1460 dollars per unit, where x is thetotal number of units produced. Suppose further that the selling price of its product is 1500−1/4 x dollars per unit.(a) Find the break-even points.(b) Find the maximum revenue.(c) Form the profit function from the cost and revenue functions and find maximum profit.(d) What price will maximize the profit?
- Which of the ff statements are true about cost function a. It estimate the total cost of production given a specific budget b. It helps predict what the marginal cost would be to produce a product at different levels of output c. It allows management to evaluate how efficiently the production process was at the beginning of the operation period d. It helps manager understand the price behavior of the product A firm profit maximization point is where a. Total revenue Is greater than total cost b. Marginal revenue is equal to marginal cost c. Marginal revenue is greater than total cost d. Marginal cost is less than total costThe Hickory Cabinet and Furniture Company makes chairs. The fixed cost per month of making chairs is $7,500, and the variable cost per chair is $40. Price is related to demand, according to the following linear equation: v = 400 - 1.2p Develop the nonlinear profit function for this company and determine the price that will maximize profit, the optimal volume, and the maximum profit per month.Suppose a company has fixed costs of $53,200 and variable cost per unit of 1/3x + 444 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 2372 − 2/3x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) x = (b) Find the maximum revenue. (Round your answer to the nearest cent.) $ (c) Form the profit function P(x) from the cost and revenue functions. P(x) = Find maximum profit. $ (d) What price will maximize the profit? (Round your answer to the nearest cent.) $
- A business sells items according to the following Cost and Revenue functions: C(x)=10x+6100Cx=10x+6100 R(x)=−3.5x2+340xRx=-3.5x2+340x (a) Find the profit function: P(x)=Px= (b) How many items should be sold to break even? (Round to the nearest whole number. Enter your answer as a comma-separated list if necessary) (Enter the smaller number first) x=x= (c) What is the maximum profit for this business? (Round to two decimal places)The Grady Tire Company Recaps tires. The weekly fixed cost is $2,500, and the variable cost per tire is $9. Price is related to demand, according to the following linear equation: v = 200- 4.75pDevelop the nonlinear profit function for the tire company and determine the optimal price, the optimal volume, and the maximum profit per week.A company estimates that the relationship between. unit price and demand per month for a potential new product is approximated by p= $100.00-$0.10D. The company can produce the product by increasing fixed costs $17,500 per month, and the estimated variable cost is $40.00 per unit. What is the demand that maximizes revenue and the maximum revenue? What is the optimal demand, D*, and based on this demand, should the company produce the new product? Why? (Work out the complete solution by differential calculus, starting with the formula for profit or loss per month.)
