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- Please solve this question and kindly use this formula F=P(1+in)A company has determined that its profit for a product can be described by a linear function. The profit from the production and sale of 150 units is $455, and the profit from 250 units is $895. What is the average rate of change of the profit for this product when between 150 and 250 units are sold? Write the equation of the profit function for this product How many units give break-even for this product?Worldwide annual sales of a device in 2012–2013 were approximately q = −6p + 3,040 million units at a selling price of $p per unit. Assume a manufacturing cost of $40 per unit. [HINT: Recall that Profit = Revenue − Cost.] Find the function P for annual profit, in millions of dollars and in terms of p only, subject to any constraints. P(p) = ____ Find P′(p). P′(p) = ____ What selling price (in dollars) would have resulted in the largest annual profit? (Round your answer to two decimal places.) p = $____ What would have been the resulting annual profit (in millions of dollars)? (Round your answer to the nearest whole number.) $ ____ million
- Find the first, second, and cross partial derivatives for the following function:z=f ( x , y )=12 x4−6 x2y+4 xy3Use the function below (whose parameters qualify it as a STC function) to answer the questions. STC = 4850 + 40Q - 1.5Q^2 + .04Q^3 FC = $4,850 AFC = 4,850 / Q (I calculated this) AVC = 40 - 1.5Q + .04Q^2 (I calculated this) MC = 40 - 3Q + 0.12Q^2 (I calculated this)Solve the following with complete solutions
- QT = 200 -.01PT +.005PM -10PG +.01I +.003A 1. Characterize this function by circling all in the following list that are applicable: univariate, bivariate, multivariate, linear, exponential, logarithmic, curvilinear, 1st degree, 3rd degree, additive, multiplicative, linearly homogeneous 2. What is the numerical value of the partial derivative of the function with respect to advertising spending (be sure to also include the + or – sign. Note: I do not want the symbol for this partial derivative)? 3. Write the mathematical symbol representing the coefficient of the price of gas (the numerical value of this coefficient is -10, but the answer you give is to be the symbol for this partial derivative). 4. Assuming there is a $2 increase in the price of gasoline (PG), what change in Toyota demand QT will result (an increase or decrease and also give the numerical value, too)? 5. Are Mazadas a substitute for or complementary to Toyotas? What feature of the function tells…If Qd= 20-0.5P, find the slope of the function 20 5 1 -0.5A first year student estimated a linear consumption function and found out that Ct = 200 + 0.65Yc + 0.25 Ct t-1. Give economic interpretation of the above result, clearly explaining the meaning of the intercept, variables and the coefficients.
