Answered: a) type the profit function of the…

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter9: Applications Of Cost Theory

Section: Chapter Questions

Problem 3E

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Pepper farming is carried out in a greenhouse. Proceeds from the sale of pepper, R,
dollars per square meter is determined by the following function. R = 5T (1-e^-x) where T is the temperature set in the greenhouse (Celsius, C^0)and the amount of fertilizer per square meter (kilogram, kg) the costs are as follows: fertilizer cost per square meter is 20?, heating cost is 0.10^2.According to this information

a) type the profit function of the manufacturer,?(?, ?).
B) determine the end points of the profit function.
c) show which endpoints you specify or which ones give the highest amount of fertilizer with the temperature value that makes the profit.

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