Firm A provides commercial cleaning services. The price ? it charges is a linear function of the area ? to be cleaned: ? = ?? + ? for some numbers ? and ?. It is known that the price is $1300 if the area is 500m 2 , 1 and the price is $2300 if the area is 1000m 2 . What are ? and ?
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Firm A provides commercial cleaning services. The
? to be cleaned: ? = ?? + ? for some numbers ? and ?. It is known that the price is $1300 if the area is 500m 2
,
1
and the price is $2300 if the area is 1000m 2
. What are ? and ?
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Solved in 3 steps
- If a demad function of a firm is Qd= 200-0.5p+4M+60Pr where M(income) is 100 and Pr(price of related good) is 4.TC=50-0.3Q+0.01Q^2. What is thw profit maximizing level of outputMarginal revenue of a product is the incremental revenue of selling an additionalunit of that product. Let, the revenue of selling 20 units of a product beRs. 15,000 and the revenue of selling 21 units of the same product beRs. 15,085. Then, the marginal revenue of selling the 21st unit____?. An electricity producer has a constant marginal cost of production equal to $40 per megawatt. The residual demand for its electricity is given by P (q) = a−bq, where P is the price and q is the quantity of power generated by this producer. The producer knows the slope, b, but he vertical intercept of the residual demand curve, a is unknown. Assume A and B are greater than zero. If you get stuck, you may answer any of the following questions for special case where a = 80 And b = 0.5 for partial credit. (a) What is the marginal revenue, M R(q), for this producer? b) What is the optimal q for this producer? (c) What is the electricity producer’s optimal price? (d) What is the electricity producer’s optimal bid in a uniform price Auction? e) Suppose b is equal to zero. Would the producer have an incentive to submit a bid above its marginal cost? Explain.
- Dataware is trying to determine whether to give a $10 rebate, cut the price $6, or have no price change on a software product. Currently, 40,000 units of the product are sold each week for $45 apiece. The variable cost ofthe product is $5. The most likely case appears to bethat a $10 rebate will increase sales 30%, and half of all people will claim the rebate. For the price cut, the most likely case is that sales will increase 20%.a. Given all other assumptions, what increase in sales from the rebate would make the rebate and price cut equally desirable?b. Dataware does not really know the increase in sales that will result from a rebate or price cut. However, the company is sure that the rebate will increase sales by between 15% and 40% and that the pricecut will increase sales by between 10% and 30%.Perform a sensitivity analysis that could be used to help determine Dataware’s best decision.1) a) Solve the following inequalities:(i) 5(11 − ?) < ? + 49 (ii) 7? − 3 <10m + 23< 8 − 5m (iii) ?2 ≥ 15 − 2? b) The cost structure for iPhones are as follows, fixed cost of $25 and variable cost perunit of $2. The associated demand function isp = 20 − q .(i) Obtain an expression for the profit, π(q). (ii) Find the range of output which gives a profit of at least $31. c) Use Microsoft Word or Excel to solve the system of linear inequalities:r + 5t ≤ 57t – 2r ≤ 4 r ≥ 0(NB: clearly identify the solution set by placing a BIG enough ‘S’ to coverthat entire region).Profit The profit for a product is given by P(x) =19x - 5060, where x is the number of units producedand sold. Find the marginal profit for the product.
- A company produces at most 15 (thousand) widgets per year. Its profit P, in thousands of dollars, is a function of n, the number of widgets prouduced per year( in thousands of widgets) the marginal profit is given by dp/dn = 20 + n -n^2. A. What is the marginal profit if n= 3 ( thousand widgets) should the company increase or decrease production B. What is the marginal profit of n= 8 ( thousand widgets) should the company increase or decrease production C. How many widgets should the compay proudcue in order to maximizePlease no written by hand and no emage An automobile dealer can sell 8 sedans per day at a price of $20,000 and 4 SUVs (sport utility vehicles) per day at a price of $25,000. She estimates that for each $400 decrease in price of the sedans she can sell two more per day, and for each $600 decrease in price for the SUVs she can sell one more. If each sedan costs her $16,800 and each SUV costs her $19,000, and fixed costs are $1,100 per day, what price should she charge for the sedans and the SUVs to maximize profit? [Hint: Let x be the number of $400 price decreases for sedans and y be the number of $600 price decreases for SUVs, and use theSuppose your product sells for $1.20 per unit. The total cost of producing x units is C(x) = 50 + 0.20x + .001x^2 dollars. a.) Find the marginal revenue and marginal profit functions b.) Find the marginal profit when x = 400 c.) What is the approximate profit from selling the 401st unit? d.) Find the value of x for which the marginal profit is zero.
- If the market price were $8, what would be the profit for this firm? a. 120 b. 180 c. 0 d. $9602. The supply Qs = s(P, Pm) has the functional form of: Qs = -12 + 0.5P - 2Pm initially, the materials cost Pm_0 = 7. Find the optimal quantity to supply if the price is P=76 and P=80. At P=76, Q_0 = . At P=80, Q_0 = . 3. Now, the cost of materials changes to Pm_1 = 9. Find the optimal quantity to supply if the price is P=76 and P=80. At P=76, Q_1 = At P=80, Q_1 = Draw the second supply curve and show how supply shifted.Why Marginal Cost (MC) is 1?? I did my calcutation and is 2. I replace on fucntion Q = L + (5)2 = L + 25, so L = Q - 25 and put on TC = 2(Q - 25) + 20(5) So TC = 2Q - 50 + 100 = 2Q + 50, then MC = dTC / dQ = 2 You may be replaced TC = wL + rK, but this function no contains Q variable Please confirm that. Thanks
