920 it bait of 289301 Sindspis ON SEU pilkupeni A30S AO +32 monulo2 An economist for a sporting goods company estimates the revenue and Cost functions for the production of a new snowboard. These Functions are R(x) = -x ² +10x and ((x) = 4x+5, respectively, where x is the number of Snowboard's produced in thousands. The average profit is defined by the function AP(x) = P(x), where pox) is the profit function & Determine the production levels that make AP(x) > 0 P-xd
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- Suppose the demand equation is 200x + 10p = 10000, where x is the num- ber of items sold when the per unit price is p dollars. Determine (a) the rev- enue function,(b) the domain of the revenue function,(c) the revenue derived from the sale of the 20th item the marginal revenu(de)wthen x = 20,level of production that maximizes the revenue,and the maximum revenue.Jason Stilton is the chief executive officer of RightLiving a company that buys life insurance policies at a discount from terminally ill persons and sells the policies to investors for 85% of the value of the future benefit. The patients recieve the cash to use for medical and other expenses and the investors are guaranteed a positive return on thier investment. The diffreance between the purchace and sale prices is the RightLivinf Profit. Stilton is aware that some sick patients may obtain insurance policies through fraud (Not revealing thier illness on the insurance application). An insurance company that discovers such will cancel the policy and refuse to pay. Stilton beleives that most of the policies he has purchased are legitimate, but he knows some are probably not. Question Using IDDR approch, discuss the decision process Stilton should use in deciding whether to disclose the risk of fraudulent policies to potential investors.A market analysis employed by the “Sad Student Company” reveals that the number oflots of the game named “Handsome Killer: Revenge of the Teacher” ordered by thewholesalers when the game is offered at a price of dollars per lot is given by the formula:p=1500-2.5qa) Find the company’s total, marginal and average revenues b) Find the price and quantity maximizing the total revenue by first expressing therevenue as a function of price rather than of quantity
- It costs $250 to produce an X-Box. We are trying todetermine the selling price for the X-Box. Prices between$200 and $400 are under consideration, with demand forprices of $200, $250, $350, and $400 given below. SupposeMSFT earns $10 in profit for each game that an X-Boxowner purchases. Determine the optimal price andassociated profit for the case in which an average X-Boxowner buys 10 games. Console Price ($) Demand200 2.00E06250 1.20E06350 6.00E05400 2.00E05Unit cost $250The R J smith corporation is a publisher of romance novel. The corporation hires an economical to determine the demand for its product. After months of hard work the analyst informed that the demand for the firm's novel is given by the following equation: Q=12000-5000 Px+5I+500 Pc Where, P, is the price charged for the R J Smith novel. I is the income per capita. PC, is the price of books from competing publisher. Assume, that the initial values of Px, I and Pc are. $5, $10000 and $6 respectively. Using the information, the manager wanted to (i) determine what effect a price increased would have on total revenue. (ii) Evaluate how sale of the novels would change during a period of rising incomes. (iii) Assess the probable impact if competing publishers would raise their price .2. The Ice Cream Lovers Society decided to open up an ice cream stand during the summermonths. They calculated that it would cost them $0.80 to make a scoop of ice cream and$350 a month to operate the stand. They hired a research team who determined that theprice-demand function given in dollars isp x x ( ) = −8 0.02wherexis the number ofscoops sold.a. Find the revenue functionR x( )b. Find the value ofxthat produces the maximum revenue algebraically.c. Find the maximum revenue algebraically.d. Find the price per scoop of ice cream that produces the maximum revenuealgebraically.e. Find the cost functionC x( )that describes the monthly costs of operating the icecream stand.f. Find the break-even points to the nearest scoop algebraically usingR x( )andC x( ) .g. Find the profit functionP x( ).
- A) The monthly demand function for particlar prodct q = f(p) = 30000 - 25p Determine the quadratic total revenue function, where Ris a function of p or R=g(p). What is the concavity of the function?What is the q intercept?What does total revenue equal at a price of $60? How many units will be demanded at this price? At what price will total revenue be maximized? B) Consder the linear equation 4x -3y = 36 What is the slope of the line represented by the given equation?What is the slope of any line perpendicular to the given line? C) Find ?′(2) and determine the values of x for which ?′(?) = 0i)?(?) = ??2?-2? ii)?(?) = (2? − 8)5Market demand for Mandrake roots is given by Q-273-3P. The government of imposes a per unittax of $7 and consumers pay the tax. What is the highest market price of Mandrake at whichconsumers will buy at least 25 units?You are working for the chiefeconomist at Microsoft. Microsoft’s only significantcosts to producing and distributing a new version itit’s operating system is $30,000 in wages to itsemployees, $15,000 in computer testing, and$5,000 in utilities. Microsoft’s marketing department estimates that thedemand a new version it it’s operating system is Q = 320 – 0.5 P, with Pmeasured in dollars.What price should Microsoft charge for a new version it it’s operatingsystem? What profit should Microsoft expect?
- Suppose a firm has estimated the function of its demand (Qv) as follows: Qv = 400000-10Pv+10Pc+0.5I+0.5A where, Qv = quantity demand of good V Pv = price of Qv (own price) = 10 000 Pc=price of the competitor's product = 8 000 I = average income of consumers = 10 000 A = average advertising expenditure= 30 000 1.Calculate the total amount of vehicles that wouldbe sold given the equation and values of the variables? 2.Calculate price income and advertisement elasticity?Can you help with parts c,d, and e please? The estimated daily demand for river corssings on a proposed new bridge is: Qd = 100,000 - 20,000P where Qd is the quantity demanded measured in number of daily crossings and P is the price(toll) per crossing in dollars. Engineers estimate that constructing the new bridge will result in a fixed cost of $1.2 billion or $120,000 per day over the life of the bridge. Once constructed, there are no marginal costs and variable costs associated with the bridge's use. Based upon the above information, answer the following questions: a. If a private company were to build the bridge, what would be the profit-maximizing number of daily crossings? b. What price per crossing(toll) would the profit-maximizing company establish? c. What would be the socially optimal number of daily crossings? d. What deadweight loss would exist given your answers to part (a) and (b)? e. Would a profit-maximizing company build the bridge?A professor in the school of business of economics carried out a research for Toyota Kenya and found the overall demand for its vehicles has an elasticity of demand of 1.3. How would you interpret this co efficient?