Company ABC sells 2 products : X and Y. The cost of product is for X is 400 pesos and Y is 300 pesos. The profit for X is 40 and Y is 30. The total demand for both products is 1,000 units. Production cost is 100,000 pesos. How many units that the company produce so that to earn maximum profit? Answer in mathematical expression, tabular form, constraint, and profit.
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- As a producer and seller of some commodity, you have learned that, if you produce and sell x itmes in a particular month, the following functions can be used to find the cost and revenue: Revenue: R(x)=150x-x^2 and Cost: C(x)=3000+20x. (a) Write a simplified formula for your profit in a particular month, P(x)=R(x)- C(x) (b) Find the "break-even" point(s) (c) How many items should you produce and sell in a month in order to achieve a maximum profit? (d) What is the maximum possible monthly profit? This is the problem and I cannot solve the c and d, could you please help me?K Given the input-output matrix below, find the output matrix if final demand changes to 400 for water, 180 for electric power, and 700 for agriculture. Industry: Water Electric Power Agriculture Other Water 120 120 240 720 The output matrix is X = (Round to two decimal places as needed.) Industry Electric Power 400 200 100 300 8 Agriculture Final Demand 180 240 120 60 260 170 500A firm produces two different kinds A and B of a commodity. The daily cost of producing x units of A and y units of B is C(x,y) = 20(x2 + xy + y2). Suppose that the firm sells all its output at a price per unit of 240 for A and 180 for B. Find the daily production levels that maximize profits and confirm that it’s a maximum
- 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?1. Mzanzi-Ndizvo (Pty) is a vaccine manufacturing company that has the following costs ofproduction. Cost of capital is R50 000, labour cost is R30 000, and the total cost the firm is willing to pay is R300,000. Identify the type of this production function and Illustrate it with a 2D graph. 2. If the demand and supply curve for cell phones is given by: D = 80 - 4P, S = 40 + 6P In a market with a price of P for smartphones, compute the number of phones that would be bought and sold at equilibrium.Assume quantities need not be integers. Demand in a competitive market is Qd(P)=120 – (4/10)*P. If 20 units are transacted, what is the lowest marginal benefit (i.e., MWTP) at which an item is purchased? Round to two decimal places and do not enter a currency symbol. If your answer is $1.125, enter 1.13.
- If the marginal revenue of the next widget a firm produces is $100 and its marginal cost is $110, a firm should: A). reconsider past production decisions. B). decrease production. C). increase production. D). hold production constant.Based on market research, a film production company in Ectenian obtains the following information about the demand and production costs of its new DVD:Demand: P = 1,000 – 10QTotal Revenue: TR = 1,000Q – 10Q2Marginal Revenue: MR = 1,000 – 20QMarginal Cost: MC = 100 + 10Qwhere Q indicates the number of copies sold and P is the price in Ectenian dollars.d. Suppose, in addition to the costs above, the director of the film has to be paid. The company is considering four options:i. A flat fee of 2,000 Ectenian dollarsii. 50 percent of the profitsiii. 150 Ectenian dollars per unit soldiv. 50 percent of the revenueFor each option, calculate the profit-maximizing price and quantity. Which, if any, of these compensation schemes would alter the deadweight loss from monopoly? ExplainThe marketing department of a business has determined that the demand for a product can be modeled by p=2000−10x, where p is the price per unit (in dollars) and x is the number of units. The cost (in dollars) of a producing x units is given by C=2000+500x. What price will yield a maximum profit?
- Market Equilibrium A retail chain will buy 900 cordless phones if the price is $10 each and 400 if theprice is $60. A wholesaler will supply 700 phonesat $30 each and 1400 at $50 each. Assuming that thesupply and demand functions are linear, find the market equilibrium point and explain what it means.a. Coca-Cola cuts its price below that of Pepsi-Cola to increase profit. b. A Single firm, protected by a barrier to entry, produces a personal service that has no close substitutes c. barrier to entry exists, but the good has some close substitutes d. A museum offers discounts to students and seniors e. A firm can sell any quantity it chooses at the going price f. A firm experiences economics of scale even when it produces the quantity that meets the entire market demand. 1. Which of the six cases are monopolies or might give rise to monopoly? 2. which are legal monopolies and which are natural monopolies? can any of them price discriminate? if so, why?a. . Coca-Cola cuts its price below that of Pepsi-Cola to increase profit. b. A Single firm, protected by a barrier to entry, produces a personal service that has no close substitutes c. barrier to entry exists, but the good has some close substitutes d. A museum offers discounts to students and seniors e. A firm can sell any quantity it chooses at the going price f. A firm experiences economics of scale even when it produces the quantity that meets the entire market demand. 1. Which of the six cases are monopolies or might give rise to monopoly? 2. which are legal monopolies and which are natural monopolies? can any of them price discriminate? if so, why? 3. What are the distinguishing features of oligopoly? 4. Why are breakfast cereals made by firms in oligopoly? Why isn't there monopolistic competition in that industry? 5. Business Week reported that Energizer is gaining market share against competitor Duracell and its profit is raising despite the sharp rise in the price of zinc,…