Given Cost and Price (demand) functions C(q) = 110q + 45000 and p(q) = - 2.8q+ 800, what profit can be earned if the price is set to be $550 per item? T 2 The profit is $ 62.50-2,89 29 (Round to the nearest cent.) of C100 o00 ond it costs A company produces a special new tyne of TY Tho nomnonu h

Survey Of Economics
10th Edition
ISBN:9781337111522
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter6: Proudction Costs
Section: Chapter Questions
Problem 8SQP
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Given Cost and Price (demand) functions C(q) = 110q + 45000 and p(q) = - 2.8q + 800, what profit can be
earned if the price is set to be $550 per item? U
The profit is $ 1,?9
(Round to the nearest cent.)
A company produces a special new type of TV. The company has fixed costs of $499,000, and it costs
STT00 to produce each TV. The company projects that if it charges a price of $2300 for the TV, it will be able
to sell 850 TVs. If the company wants to sell 900 TVs, however, it must lower the price to $2000. Assumo a
linear demand.
What is the marginal profit if 200 TVs are produced
It is $ 0 per item.
(Round answer to nearest dollar.)
Transcribed Image Text:Given Cost and Price (demand) functions C(q) = 110q + 45000 and p(q) = - 2.8q + 800, what profit can be earned if the price is set to be $550 per item? U The profit is $ 1,?9 (Round to the nearest cent.) A company produces a special new type of TV. The company has fixed costs of $499,000, and it costs STT00 to produce each TV. The company projects that if it charges a price of $2300 for the TV, it will be able to sell 850 TVs. If the company wants to sell 900 TVs, however, it must lower the price to $2000. Assumo a linear demand. What is the marginal profit if 200 TVs are produced It is $ 0 per item. (Round answer to nearest dollar.)
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