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- Suppose ZYZ company has the following information producing a product branded SPEEDY. The average cost (AC) for the first unit of SPEEDY is $1000. The price for the item is set at $400 per unit. The experience rate for SPEEDY is 85%. Fill in the blanks based on the experience curve pricing using the information above. Ignore the numbers after two (2) digits from the decimal point. Volume (X) AC Price TR TC Profit 1 1000 400 ________ _______ _______ 2 _______ 400 ________ _______ _______ 4 _______ 400 ________ ________ _______ 64 _______…If marginal cost MC = 2.5 (assume this is constant), calculate the profit-maximising price and the revenue maximising price. In doing so, remember thatExplain the roleof costs in pricingdecisions anddescribe how variouscombinations of price,fixed cost, and unitvariable cost affect afirm’s break-even point
- Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x copies of an edition is given by C(x) = 70 + 0.10x + 0.001x2 dollars. (a) Calculate the marginal revenue R'(x) and profit P'(x) functions. HINT [See Example 2.] R'(x) = P'(x) = (b) Compute the revenue and profit, and also the marginal revenue and profit, if you have produced and sold 500 copies of the latest edition. revenue $ profit $ marginal revenue $ per additional copy marginal profit $ per additional copy Interpret the results. The approximate from the sale of the 501st copy is $ . (c) For which value of x is the marginal profit zero?x = copiesInterpret your answer. The graph of the profit function is a parabola with a vertex at x = , so the profit is at a maximum when you produce and sell copies.Two dairy farmers produce milk for a local town with local milk demand given by Q=100-0.3333333333P(P denotes price measured in Rands, Q denotes the quantity measured in liters). Both farmers have the same cost function given by TC=150+2q(wheredenotes output). (h) What if farmer 1 is a leader and farmer 2 a follower, determine the price, quantity and profits made by these two farmers.Best Orange Juice Company is located in Oman. The cost function for total orange juice production (x) is given by C(q) = 0.25x2. Their orange juice is demanded only in Muscat (Muscat demand is xm= 100-2Pm) and Salalah (Salalah demand is xs= 100-4Ps). Therefore, the total demand is x=xm+ xs. If the company can control the quantities supplied to each market, how many should it sell in each location to maximize total profits? What price would it charge in each location?
- The marginal operating cost of each unit of quantityis $5 (since marginal cost is a constant, so is averagevariable cost. Ignore fixed cost). The owners of theamusement park wish to maximize profits.Calculate the price, quantity and profit if:a. The amusement park charges a different price ineach market.b. The amusement park charges the same price inthe two markets combined.Alchem (L) is the price leader in the polyglue market. All 10 other manufacturers(follower [F] firms) sell polyglue at the same price as Alchem. Alchem allows theother firms to sell as much as they wish at the established price and supplies theremainder of the demand itself. Total demand for polyglue is given by the followingfunction (QT = QL + QF):P ¼ 20;000 4QTAlchem’s marginal cost function for manufacturing and selling polyglue isMCL ¼ 5;000 þ 5QLThe aggregate marginal cost function for the other manufacturers of polyglue isΣMCF ¼ 2;000 þ 4QFa. To maximize profits, how much polyglue should Alchem produce and what priceshould it charge?b. What is the total market demand for polyglue at the price established by Alchemin Part (a)? How much of total demand do the follower firms supply?Consider the following cost function: Total Cost = 50+5Q^3 and demand curve Price= 5000-275*Q Given these functions, what would be the profit maximizing output?
- The next three problems are from Unit 10. You are provided with a pair of demand and cost functions. P=20,000-15.60 TC = 400,000 + 4640 Q + 100 Use the above functions and derive the maximum profits for the firm: Optimal Q = Optimal P = Optimal TR = Optimal profits - =The demand and total profit function, P(x) for rooms in a hotel are given as follows. 3x = 600 - P P(x) = 450x – 3.5x2 - 4000 Where p is the price in ringgit per room and x is the quantity of room rented. Determine the marginal cost when 2 rooms are rentedNatural-ExP is a unique company that is dedicated to making day trips to the Nevado de Toluca. The service includes transportation, food and guide service. Being the number of tickets sold, if the cost function of serving a new customer is Cmg = 20q, the marginal revenue function Img = 600−40q and the demand is q = (600 − p) /20. Under this scenario, what is the price of the excursion. $400 $600 $300 $100