(b) You are the CEO for a lightweight compasses manufacturer. The demand function for the lightweight compasses is given by p = 40 – 4q²where q is the number of lightweight compasses produced in millions. It costs the company $15 to make a lightweight compass. (i) Write an equation giving profit as a function of the number of lightweight compasses produced. (ii) At the moment the company produces 2 million lightweight compasses and makes a profit of $18,000,000, but you would like to reduce production. What smaller number of lightweight compasses could the company produce to yield the same profit?

Q: The demand function p=2000-3q2 and total cost C=2q2+800. Find the price that maximizes profit.

A: The profit function is given by, π(q)=p*q-C(q)=(2000-3q2)q-2q2-800=2000q-2q2-3q3-800 First order…

Q: The demand and total profit function, P(x) for rooms in a hotel are given as follows. 3x = 600 - P…

A: Marginal cost is the additional cost incurred by producing an additional unit of output.

Q: A demand curve is given by p = 660-3x. Assume you must pay salaries totalling 8000$ in a month.…

A: We are going to use Single variable maximisation method to answer this question.

Q: 1. Last year, a toy manufacturer introduced a new toy truck that was a huge success. The company…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…

Q: 2. Rahim runs a fruit stand where he sells apples and mangoes. Each apple costs BDT 5.00 per piece…

A: Marginal Cost of Apple (MCa) = BDT 5 Marginal Cost of Mango (MCm) = BDT 8 Demand for apples: Qa =…

Q: You are working for the chief economist at Microsoft. Microsoft’s only significant costs to…

A: Given Demand function: Q = 320 – 0.5 P P= 2(320 - Q)P = 640 - 2Q Total Revenue = Price* Quantity TR…

Q: Two women have decided to start a cottage industry that will be run out of their homes. They are…

A: The method of the Lagrange multiplier is the strategy which is used for finding the local maxima and…

Q: The answer in the textbook says when x>5 how do you get that ?

A:

Q: functions P₁ = 63-4Q1 P2 = 105-5Q2 Pkets described by the inverse demand P3=75-6Q3, where Q₁ is the…

A: Given:  Demand in the first market: P1 = 63 - 4 Q1Demand in the second market: P2 = 105 - 5 Q2Demand…

Q: Suppose that the manager of a donut shop tellsyou that he sold 220 donuts today, for a total revenue…

A: Average revenue is calculated by dividing the total revenue earned by the firm by the quantity of…

Q: A demand curve is given by p = 660-3x. Assume you must pay salaries totalling 8000$ in a month.…

A: We are going to solve this problem using single variable maximisation technique.

Q: If demand function is given by P = 40 - 2Q then what is the procedure to get marginal revnue ?

A: Given the demand function: Demand function, P = 40 - 2Q

Q: Please type your NUMERICAL answer in the space below. ENTER ONLY THE NUMBER. IF answers are in…

A:

Q: Suppose that Tommy Hilfiger's marginal cost of a jacket is $200 and at one of the firm's shops,…

A:

Q: given p(q)=176-9Q and c(p)=5Q+19 find the profit max quantity

A: Answer to the question is as follows:

Q: (b) You are the CEO for a lightweight compasses manufacturer. The demand function for the…

A: In production theory, a rational producer operates at a level of output that maximizes his/her/their…

Q: Mrs Tobani who was earning an annual income of K4,000 decided to go into business in 2014 by…

A: Mrs Tobani who was earning an annual income of K4,000 decided to go into business in 2014 by…

Q: A toy manufacturer makes miniature trucks. The pricep(in dollar) and the demandx(numberof miniature…

A: "You have posted multiple sub-part questions, I can solve only the first 3 parts. To get the other…

Q: You are the manager of a small pharmaceutical company that received a patent on a new drug that…

A: The price elasticity is given as -2.5 MC= 0.25 Current price charged = 1.25 Here the firm is a…

Q: You are an accountant for a manufacturer of radios. The demand function for the tablets is p =40 −…

A: The monopoly profit is maximized where the MR =MC. There is single firm in the monopoly market and…

Q: Problem 1 (a) Teddy is a manufacturer of dish washing liquid. If his monthly demand function for…

A: Teddy's profit(π) function is: Profit=Total Revenue-Total cost=16q-q2250-500-0.2q=15.8q-500-q2250

Q: A company is the sole producer of holographic TVs. The daily demand for these TVs is Q=10,200 -…

A: A company is the sole producer of holographic TVs. The daily demand for these TVs is…

Q: BigSwaba Corp produces virus home test kits which it sells in the market. It pays a marketing…

A: Given demand function P=48+m^0.5-0.5q TC=200+0.5q^2+m

Q: You've decided to sell sweatshirts for the upcoming game. You project that at a price of $36.48 per…

A: Profit is maximized at a point where marginal revenue is equal to marginal cost.

Q: The inverse demand for an app is P = PD (Q) = 30-0,4. Q. The inverse demand function indicated the…

A: Given function P = P^d(Q) = 30 - 0.4Q Also, given fixed cost = 420 and marginal cost = 2 Thus, here…

Q: 30. Maximizing profit. Raggs, Ltd., a clothing firm, determines that in order to sell x suits, the…

A: A

Q: A local newspaper currently has 84,000 subscribers at a quarterly charge of $30. Market research has…

A: The measure that depicts expenses that are being incurred for carrying out day-to-day transactions…

Q: You've decided to sell sweatshirts for the upcoming game. You project that at a price of ​$33.24…

A: Given: At price $33.24 quantity of sweatshirt sold is 120  At price ​$23.02 quantity of sweatshirt…

Q: ou've just been hired to run a division of a toy manufacturing company. Your boss informs you that…

A: Recall that, If demand is inelastic, increasing prices raises revenue. If demand is elastic,…

Q: en the admission price for a baseball game was $4 per ticket, 50,000 tickets were sold. When the…

A: The profits of the firms can be calculated by estimating the difference between the total revenue…

Q: You are running a chocolate factory and need to decide on the price to sell the chocolate as well as…

A: Profit maximiser firms decide to charge price and output determination is set when marginal cost and…

Q: I Auto can produce any quantity of cars at a constant marginal cost equal to $100 and a total foced…

A: Given; Marginal cost= $100Total fixed cost=$10000Demand for LI Auto in Europe; QE=6000-8PEDemand for…

Q: King of Hearts The King of Hearts, a neighborhood pub in a small midwestern town, is owned and…

A: Given information Kinga of Hearts wants to increase the sale .  In order to increase the sell…

Q: Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x…

A: Given information P= 90cent =$.9 C=50+.10X+.001X2

Q: 3. The demand function for a particular brand of LCD TV is given by p = 258030x where p is the price…

A: Given, the demand function is: Here, p is the price per unit in the dollar and x is the number of…

Q: The inverse demand function for soybeans is p = 30,000 – 6q. what is the quantity of soybeans…

A: Given: p=30,000-6qTotal Revenue=Price×QuantityTR=p×q=30,000-6qq=30,000q-6q2

Q: (b) You are the CEO for a lightweight compasses manufacturer. The demand function for the…

A: In production theory, a rational producer operates at a level of output that maximizes his/her/their…

Q: you are an accountant for a manufacterer of radios. the demand function for the tablets is p= 40-4x2…

A: Given:- Demand function(P)=40-4x2 Cost function(C)=15x Please find the images attached for detailed…

Q: Rahim runs a fruit stand where he sells apples and mangoes. Each apple costs BDT 5.00 per piece and…

A: Perfect competition is a market where a huge number of business units compete with each other in…

Q: (b) You are the CEO for a lightweight compasses manufacturer. The demand function for the…

A: Given: p=40-4q2 Cost to make compass=$15

Q: Question10: If the demand function faced by a firm is: Q = 90 – 2P TC = 2 + 57Q – 8Q²+ Q³ Determine…

A: According to the question Demand function is given as Q = 90 – 2P      TC = 2 + 57Q – 8Q^2 + Q^3 The…

Q: The demand function for football tickets for a typical game at a large midwestern university is D(p)…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Using the graph below, calculate the firm's profits at the profit maximizing output Price 408 384…

A: A profit-maximizing firm produces at the intersection point of MR and MC.  i.e., MR = MC is…

Q: Graphs of marginal revenue and marginal cost functions based on linear models for the demand and…

A: Marginal Cost is the additional cost incurred in the production of one more unit of output. Marginal…

Q: Question 7 A firm, focusing on producing toothpaste has a demand function 2? = 10 − 0.25?. If fixed…

A: Dear student, you have asked multiple sub-part questions in a single post.In such a case, as per the…

Q: Valair is an airline flying a particular route that has seasonal demand. The firm's total demand is…

A: On the off chance that the carrier charges similar costs in each market, we get the benefit…

Q: 1. The demand function for football tickets for a typical game at a large midwestern university is…

A: Given:  D(p) = 200.000-10.000p

Q: A company produces and sells hair dryers in a market where price (p) and demand (D) are related as…

A: Given  The demand curve facing the company: P=35+3000D-4800D2  ........... (1) Fixed cost  FC = $800…

Q: A firm faces the demand schedule = 0.69 and the total cost function TC = 40 + 30q + 0.4q². %3D (a)…

A:

Q: You are an accountant for a manufacturer of radios. The demand function for the tablets is 2 p x =…

A: Given information: The demand function for the tablets: p(x)=40-4x2            .... (1) Cost of…