It has been determined that the cost of producing x units of a certain item is 8x + 365. The demand function is given by p = D(x) = 40 – 0.35x. Step 1 of 2: Find the revenue function. Answer
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- Ptarmigan Company produces two products. Product A has a contribution margin of $84.00 and requires 8 machine hours. Product B has a contribution margin of $133.90 and requires 13 machine hours. Determine the most profitable product assuming the machine hours are the constraint. If required, round your answers to two decimal places.ABC Company Limited is a new business established to produce tables (in units). The demand function for tables is given as 4? = 35 − 0.5?. It has been estimated that the total fixed cost is GH¢80 and average variable cost function is 3? − 51 + 320, where Q is number of tables produced ? and P is the price per table (in GH¢). Given this information, what is the total profit at the profit maximizing level of output, and what is the best pricing policy option?A construction company has determined its price-demand function for a certain product is given by C(x) = 200 - 0.5x and the total cost of the production of the product is given by C(x) = 1400 + 55x. a) What is the maximum revenue that the company can realize?
- Let 10p + x = 100 be the demand equation, where p is the price per item when x items are demanded. (a) Find the total revenue when the level of production is: (i) 40; (ii) 41; (b) Find the exact revenue derived from the 41st item. (c) Find the approximate revenue derived from the 41st item. (d) What is the error if the derivative is used to approximate the marginal revenue?It is known that the demand function for a good is shown by the equation P = - 5Q + 110 and the total cost of production is C = 100 + 10Q + 5Q². Calculate the maximum profit rate of sales, the amount of profit and the selling price per unit.A price-setting firm faces the following estimated demand and average variable cost functions: Qd= 800,000 − 2,000P + 0.7M + 4,000PR AVC = 500−0.03Q + 0.000001Q2 where Qd is the quantity demanded, P is price, M is income, and PR is the price of a related good. The firm expects income to be $40,000 and PR to be $53. Total fixed cost is $2,600,000. What is the profit-maximizing choice of output? a. 8,000 units b. 20,000 units c. 0 units, the firm shuts down d. 10,000 units e. 12,000 units
- Suppose the demand function for a product is given by the function: D ( q ) = − 0.02 q + 80 D ( q ) = - 0.02 q + 80 Use integration (or other appropriate methods) to find the following: (Do no rounding of results until the very end of your calculations. At that point, round to the nearest tenth, if necessary. It may help you to sketch the demand curve, which crosses the horizontal at q = 4 , 000 q = 4 , 000 .) A) The total actual revenue for q = 3 , 350 q = 3 , 350 units: Answer 1: B) The total possible revenue (for all quantities and prices): Answer 2: C) The Consumer's surplus corresponding to q = 3 , 350 q = 3 , 350 units: Answer 3: D) The "Not Sold" value corresponding to q = 3 , 350 q = 3 , 350 units: Answer 4Suppose your product sells for $1.20 per unit. The total cost of producing x units is C(x) = 50 + 0.20x + .001x^2 dollars. a.) Find the marginal revenue and marginal profit functions b.) Find the marginal profit when x = 400 c.) What is the approximate profit from selling the 401st unit? d.) Find the value of x for which the marginal profit is zero.Consider the production function: Y = 0.75X + 0.0042X2 – 0.000023X3 If input price is 0.15$ and output price is 4$ then at what level of X, profit will be maximum?
- A manufacturer has found out that if he is to increase his current sales, he must lower his current price. His marginal revenue (MR) from an output x is given by the expression MR=148 – 2x. The marginal production cost (MC) is Ksh 36 and fixed costs amount to Ksh 1,000. Required i) Derive the revenue and total cost functions. ii) Determine the output and price that would maximize profit. iii) Compute the maximum profit.Suppose a company has fixed costs of $53,200 and variable cost per unit of 1/3x + 444 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 2372 − 2/3x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) x = (b) Find the maximum revenue. (Round your answer to the nearest cent.) $ (c) Form the profit function P(x) from the cost and revenue functions. P(x) = Find maximum profit. $ (d) What price will maximize the profit? (Round your answer to the nearest cent.) $– A certain cleaning company cleans professional offices and believes its staff can clean up to 300 office units a week at a labor and supply cost of $58 per unit. Preliminary pricing surveys indicate that if that if the company charges $100 per unit, it will have clients for 300 units. For every $5 price increase it can expect a demand of 10 fewer units. Assume the demand, s, is a linear function of price p. Find an equation for demand as a function of price. Find the Revenue and Cost functions, both of which are dependent on price p. Write the Profit function. Using Desmos, graph the Revenue, Cost, and Profit functions on the same coordinate plane. Label the axes and the functions and use an appropriate scale. Find the break-even points graphically and confirm algebraically. Label the regions of profit and loss on the graph. Algebraically find the price that results in a maximum profit. Conclusion: A price of $_________ results in a quantity of _____________ units…