An electric power plant uses solid waste for fuel in the production of electricity. The cost Y in dollars per hour to produce electricity is Y = 12 + 1.2X + 0.32X2 where X is in megawatts. Revenue in dollars per hour from the sale of electricity is 18.7X – 0.25X2. Find the value of X that gives maximum profit and the maximum profit.

Q: machines (K). The quantity of products produced in a month is given by the function Q = 3KL. Each…

A: Q = 3KL Fixed Cost = 15,000 Variable Cost = 5000

Q: The cost, in thousands of dollars, of airing x television commercials during a sports event is given…

A: Marginal cost, C'(x) = change in total cost / change in quantity = δ(C)δx

Q: A county government hires lawyers to defend itself in lawsuits. The local government provides its…

A: Cost structure refers to the different types of cost associated with the production and selling of…

Q: Answer the question on the basis of the following cost data.   Output Total Cost 0 $ 24 1 33 2 41…

A:

Q: Give the formulas for and plot AFC, MC, AVC, and AC if the cost function is      a C = 10+10q (MC =…

A: To Calculate AFC, MC, AVC, AC we use the following formulas. AFC = FC/QMC is the derivative of C…

Q: Diane is remodeling an apartment that she will rent out to a college student. The renovation is…

A: Answer: Marginal cost: marginal cost refers to the additional cost of producing an additional good.…

Q: A soda bottling plant uses are capital (K), electricity (E) and raw materials (R) in production. Its…

A: We are going to solve for marginal rate of technical substitution to answer this question.

Q: C denotes the cost function and x denotes multiplication, Qs denotes the square of Q. C equals to 75…

A: Marginal cost (MC) assesses the cost born by a business unit in producing an extra unit of its…

Q: pharmaceutical company faces the following demand function for one of its products in the American…

A: Price Elasticity of Demand = % change in quantity ÷ % change in price  % change in quantity =…

Q: Adam operates a factory that produces beach towels. His current level of output equals 1000 towels…

A: Average total cost is referred to as the sum total of all production costs divided by the total…

Q: The increase in total cost that results from producing one more unit of output is the marginal cost.…

A: The firm produces various goods and services which incurs cost. The firm would result in the…

Q: Derek and Maria are now trying to predict how much money they will raise for their club from the car…

A: Profit = Total Revenue - Total Cost r(x) = 10x + 50 c(x) = 0.5x + 220 Profit = P(x) =  r(x) - c(x)

Q: Consider the production function:…

A: Profit of a firm is given by total revenue-total cost. Given production function is. Y = 0.75X +…

Q: A company has two wings producing two products - Product 1 and Product 2. P and P2 are price per…

A: Product 1: P1=155q2+26q22-q12q2 Product 2: P2=295q1+18q12-q22q1 Total Cost: C=100q1q2   Relative…

Q: Consider the following cost function: C(Q)=9,300+44Q+0.025Q 2 Calculate total costs when Q=180

A: The cost function calculates the lowest possible cost of manufacturing a specified quantity of…

Q: C(Q) = 100 + 20Q + 15Q2 + 10Q3 Based on the cost function, determine: The fixed cost of…

A: Total cost = Fixed cost + Variable cost Fixed cost is that which are not depend on level of output.…

Q: In this Assignment, you will define and calculate the remaining six major cost elements of a…

A: “Hey, since there are multiple questions posted, we will answer the first question. If you want any…

Q: The marginal cost function of a company is given by MC 5+x, and the cost of producing 2 umits is 712…

A: Fixed costs are costs that do not change when sales or production volumes increase or decrease.Fixed…

Q: Imagine you are running a business that processes horticultural product, and is currently producing…

A: 1) This offer will be accepted as the total revenue is greater than the total variable cost.

Q: If each unit of labour costs $25 and the cost of capital is fixed at $100, then the average variable…

A: Average variable cost(AVC) is the variable cost per unit.

Q: Based on the following function AC=(48/Q)+3Q+10, then the Fixed cost is A) 48 B) 9 C) 18/Q D) 18

A: Fixed costs refer to the expenses that are incurred for the production of goods that would remain…

Q: If the fixed cost of producing output Y is P150,000, variable cost is P300 per unit and the price of…

A: Introduction Fixed cost = P 150,000 Variable cost = P 300 per unit Price = P 600 per unit Production…

Q: The profit, P(x), generated after producing and selling x units of a product is given by the…

A: Given, The quantity of roast beef sandwich = x The total cost per week represent by = C(x) The fixed…

Q: MC=500Q2√Q3+5 (b) Find the total cost function

A: Marginal cost is defined as the cost which is incurred by the producer in order to produce one more…

Q: C(Q) = 100 + 20Q + 15Q2 + 10Q3 Based on the cost function, determine: The average fixed cost of…

A:

Q: The marginal cost curve is generally ______________, because diminishing marginal returns implies…

A: The economic cost compares the benefits and drawbacks of various options. It does this in terms of…

Q: Market research for a certain ice cream company indicates that if the price per cup of ice cream is…

A:

Q: Consider the following function: Ĉ = 0.03q + 6 + 200/q - determine the approximate cost to increase…

A: Marginal cost is the change in the total cost due to the increment in quantity produced by one…

Q: The total cost of producing q items is given by the formula C(q) = -q^3 + 40q^2 +1000, e.g. C(10)…

A: Total cost- It is the sum of all types of costs involved in the production.

Q: Suppose Alaska could add 1000 MWh of wind generation—which produces for four hours during the…

A: Solve with the help of graph marginal cost curve

Q: In the aftermath of a hurricane, an entrepreneur took a one-month leave of absence (without pay)…

A: Given, Rent = $2,500 Cost of water = $1.34 per gallon Leave without pay = $5,000-per-month…

Q: A company has two wings producing two products - Product 1 and Product 2. P and P2 are price per…

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Q: Rex Carr owns a junkyard which processes used cars into scrap metal. In the long-run Rex can use two…

A: Given  The purchasing cost of a hydraulic car smasher is $200. The cost of a car smashed using a…

Q: n 1997, researchers at Texas A&M University estimated the operating costs of cotton gin plans of…

A: Total cost:C(q)=0.023q2+21.8q+326Total revenue:R(q)=Price*quantityR(q)=70qTotal…

Q: Consider a simple three-step manufacturing process as illustrated in the figure given. Assuming the…

A: Demand is a monetary guideline alluding to a purchaser's craving to buy labor and products and…

Q: x dollars. x dollars. So our approximation was high. Using the marginal revenue function, the…

A: Marginal cost , C'(x) = dC(x)/dx Marginal revenue, R'(x) = dR(x)/dx Marginal profit , P'(x) =…

Q: The marginal cost for a company to produce q items is given by MC(q)=0.004q2−0.6q+620. The​…

A: Answer: Given, Marginal cost function: MCq=0.004q2-0.6q+620 Fixed cost= $8500 To find the marginal…

Q: Q (7) If the functions of the total revenues and total costs of a particular economic project are as…

A: Total revenue is the addition of total profit and the total cost. Total cost is the difference…

Q: You own a farm that requires spending of $93,318 to generate $275,393 per year. You discover that…

A: Given; Revenue generated= $275,393 Amount spend on farm= $93,318 It is discovered that the farm is…

Q: A manufacturer estimates that its product can be produced at a total cost of c(x)=40,000+100x+x^3…

A: Profit is maximized where the MR=MC. or profit function is differentiated and put equal to zero.

Q: which requires labor hours along with time on two machines. Producing a unit of trash cans requires…

A:

Q: The price-demand equation and the cost function for the production of table saws are given,…

A: Hey, Thank you for the question. According to our policy we can only answer up to 3 sub-parts per…

Q: Given a cost function C(x), which returns the total cost of producing x products, the average cost…

A: Total cost function  C(x) = 80x+150

Q: Electricity is sold for $0.12 per kilowatt-hour (kWh) for the first 10,000 units each month and…

A: Given Information: For the first 10,000 units - $0.12 per kWh For remaining units - $0.09 per kWh A…

Q: Water is produced and sold by the government. Demand for water is represented by the   linear…

A:

Q: Given = TC = f(q) = 0.3q2 -105q + 120,000 What volume should be produced for minimum cost?  What…

A: Ans. The cost minimization level of output is 175 units.