A firm has approximated the average cost for one of its Products by AC = 3q +2. The demand function is approximated by 3q = 98 – 4p. Determine the profit maximizing output (q); price (p) and the total profit (t) at the optimal output.

Q: A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500…

A: Given that, "Fixed costs = 15 sinks, Total costs = $2,500, Demand function q = 360-p, where q is the…

Q: When a wholesaler sold a product at $40 per unit, sales were 330 units per week. After a price…

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Q: The demand function for a product under pure competition is p = (64 - 4x)1/2  and the supply…

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Q: A manufacture has been selling 1800 television sets a week at $510 each. A market survey indicates…

A: *here, number of t.v. set sold = x demand function = p(x) Revenue = R(x) Profit function = P(x) Cost…

Q: A company determines that its demand function is given by p(q) = -0.6q+1190 and that its cost…

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Q: A manufacture has been selling 1000 television sets a week at $480 each. A market survey indicates…

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Q: The cost of producing x units of a commodity is given by C(x)=140+16x−0.7x^2. Find the marginal cost…

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Q: Given the demand function p=20-0.0002x and x=30 , What is the price elasticity of demand at x=30?

A: The given function                      p=20-0.0002x

Q: A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500…

A: Given, Demand function is, q=360-pp=360-q Now, the Revenue function is, Rq=pq=360-qq=360q-q2…

Q: The monthly demand function for x units of a product sold by a monopoly is p = 5600 –- x2 dollars,…

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Q: What is the critical point of the total cost function TC = Q3-6Q2 – 640Q? 640Q ? %3D 1/3

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Q: Suppose the demand for a product is given by 2p3q = 500p2 where p is price in dollars and q is the…

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Q: Suppose that the price p of a product and its demand x are related through the price-demand equation…

A: To find the region for which the demand function is elastic.

Q: A manufacture has been selling 1850 television sets a week at $510 each. A market survey indicates…

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Q: A manufacturer of lighting fixtures has daily production costs of C = 800 − 40x + 0.25x2   where C…

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Q: When a wholesaler sold a product at $30 per unit, sales were 186 units per week. After a price…

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Q: Suppose the supply curve for a certain brand of smartwatches is given by q = 0.06p + 255 and the…

A: Given: The supply curve of a certain brand of smart watches is q = 0.06 p + 255. The demand curve is…

Q: A manufacture has been selling 1800 television sets a week at $540 each. A market survey indicates…

A: Given : A manufacture has been selling 1800 television sets a week at $540 each. A market survey…

Q: A tire manufacturer estimates that the demand function for their radial tires will be given by P =…

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Q: The demand function for a product is p=140-2x , where p is the number of dollars and x is the number…

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Q: When a wholesaler sold a product at $40 per unit, sales were 248 units per week. After a price…

A: To find the the price

Q: A manufacture has been selling 1350 television sets a week at $480 each. A market survey indicates…

A: Given that, a manufacture has been selling 1350 television sets a week at $480 each. A market survey…

Q: When a wholesaler sold a product at $50 per unit, sales were 208 units per week. After a price…

A: Given that  The demand function is linear. A product is sold at $50 per unit and the sales is 208…

Q: A product can be produced at a total cost of C'(x) = 500 + 100x2 + x³ dollars, where x is the number…

A: Given that; Cost function and revenue function.

Q: Find consumer's surplus at the market equilibrium point given that the demand function is…

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Q: The demand function for monopolist's product is p = 700 – 2q and the average cost per unit for…

A: Given that the demand function for the monopolist's product is p=700-2q. Then, the revenue function…

Q: The demand function for a certain product is p = V500 – 2q², where q is the quantity of the product…

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Q: A manufacture has been selling 2000 television sets a week at $390 each. A market survey indicates…

A: a) We are given the demand or price function when for 2000 Television i.e. p(2000)=390. if rebate of…

Q: Find the demand function p, given the marginal-revenue function dr/dq below. dr = 269 – 9q - 1.29 dq…

A: Here, the given marginal revenue function is: drdq=269-9q-1.2q2...(1) where r is the revenue…

Q: A commodity has a demand function modeled by p = 105 − 0.5x and a total cost function modeled by C =…

A: Given  Demand function. p = 105 − 0.5x  total cost function C = 30x + 31.75

Q: A company has a price demand function P (x) = 150 − 3x for a certain product. What is the revenue…

A: The price demand function is provided as P(x) = 150 - 3x.The revenue function is given by,R(x) =…

Q: A manufacture has been selling 1250 television sets a week at $480 each. A market survey indicates…

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Q: When the admission price for a baseball game was $18 per ticket, 36,000 tickets were sold. When the…

A: Given- When the admission price for a baseball game was $18 per ticket, 36,000 tickets were sold.…

Q: A manufacture has been selling 1700 television sets a week at $420 each. A market survey indicates…

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Q: When a wholesaler sold a product at $30 per unit, sales were 280 units per week. After a price…

A: The solution is given below:

Q: The market for a particular consumer good has a demand function given by: q = 24 - p and supply…

A: Given, Demand function (p)= d(q)= 24-q Supply function (p)= s(q)= q+q²

Q: When a wholesaler sold a product at $40 per unit, sales were 270 units per week. After a price…

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Q: A manufacture has been selling 1500 television sets a week at $540 each. A market survey indicates…

A: Solution is given below:

Q: A manufacture has been selling 1200 television sets a week at $390 each. A market survey indicates…

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Q: A manufacturer has been selling 1800 television sets a week at $480 each. A market survey indicates…

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Q: A manufacture has been selling 1900 television sets a week at $510 each. A market survey indicates…

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Q: Solve the problem graphically and calculate the Z value of at the optimal solution (

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Q: The consumer demand curve for Professor Stefan Schwarzenegger's dumbbells is given by  q = (98 −…

A: Given : The consumer demand curve for Professor Stefan Schwarzenegger's dumbbells is given by  q =…

Q: Suppose the demand for a product is given by 2p3q = 500,000p2 where p is price in dollars and q is…

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Q: A company that conducts bus tours found that when the price was $9.00 per person, the average number…

A: Here, $2 decrease in the price results in 500 increase in the number of customers.

Q: The total cost of producing w phone sets per day at Cutting Edge Electronics plant is $( ½ w^2 + 70w…

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Q: An automobile manufacturer finds that the demand equation of producing a certain product is p = 350…

A: According to question given that Demaind Equation p=350-qCost function c=12q2+50q+500 where 50≤q≤120

Q: he monthly demand function for x units of a product 1 sold by a monopoly is p = 5900 – x² dollars,…

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Q: Suppose that the total revenue function for a commodity is  R(x)=25x-0.5x^2 a. Find the x…

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Q: The monthly demand function for x units of a product sold by a monopoly is  p = 6400 − 1/2x2…

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