Jasmine decides to make and sell jelly cups. It costs jasmine Rs.1000 to set up and Rs.50 per cup made. She decides to sell each cup for 150. By using this information, answer the following questions: A) Write and equation for jasmine's revenue, cost and profit functions? B) Graph each function on a set of axes? C) Find the breakeven point from these graphs? ( D) How many jelly cups will jasmine need to sell in order to make a profit? (E) If jasmine wishes to make a profit of 50, how many jelly cups does she need to sell?

Q: Identify each of Larry's costs in the following table as either an implicit cost or an explicit cost…

A: The actual cost incurred by a firm for the purchasing and hiring of inputs, for the production…

Q: An ice cream shop owner is deciding whether or not to keep her ice cream shop open during the…

A: Fixed costs are defined as the costs incurred at the time of setting up of the business such as…

Q: Suppose total revenue (TR) and total cost (TC) functions of Samsung are following: TR = 175Q – 2.5Q²…

A:

Q: For a company with (inverse) demand function P = 4,510 - 55Q and cost function C = 88,000 + 660Q,…

A: P=4510-55Q C=88000+660Q Total Revenue=PQ TR=(4510-55Q)Q TR=4510Q-55Q2 Maximizing TR  :…

Q: Gymnast Clothing manufactures expensive hockey jerseys for sale to college bookstores in runs of up…

A: a.   Revenue function is 110x

Q: A firm has the following demand and average total cost functions: Q = 30 – P 7 1 - 6 +-Q ATC = - -…

A:

Q: Danielle decides to withdraw her savings of $70,000 and invest in starting her own clothing…

A: Accounting profit is a company's net income, which is revenue minus expenses. Economic profit is…

Q: Teddy J is a manufacturer of dish washing liquid . If his monthly demand function for 750ml size is…

A: Economic profit is the difference between revenue earned and cost occurred.

Q: The difference between economic profit and accounting profit is that economic profit is calculated…

A: Out-of-pocket costs are expenditures that appear to have been incurred. Employee compensation and…

Q: An industry currently has 100 firms, each of which has fixed costs of $8 and average variable costs…

A: Given,  Total number of firms in the industry : 100 Fixed costs = $8 Equilibrium is at $15

Q: Use the following data for answering Questions 3-6: The Haverford Company is considering three types…

A: The table for the costs of Plant C is given below:

Q: 1. The Zinger Company manufactures and sells a line of sewing machines. Demand per period (Q) for a…

A: Profit can be calculated by subtracting the total cost from total revenue. This can be written as…

Q: Both Stan and Kyle own potate chip factories. Stan's factory has low fixed costs and high variable…

A: Stan : Low Fixed Costs  , High Variable Costs  Kyle : High fixed Costs , Low Variable Costs  Fixed…

Q: Consider the firm whose MC, AC, AVC, AFC functions are shown in the following graph. (The following…

A: The expenses that are being incurred for conducting operations of the business are known as costs.…

Q: Suppose a product's revenue function is given by R(q) = 3q + 700g . Find an expression for the…

A: The marginal revenue is calculated by differentiating the total revenue. Marginal revenue measures…

Q: What is the profit maximization for apex firm if we have the following data quantitiy /unit…

A: Profit maximization occurs at the point when Marginal Revenue is equal to the Marginal Cost. Also,…

Q: 10) Find the marginal and average functions for the following total functions and graph the results.…

A: Total Cost Function C = 3Q2 + 7Q +12 Marginal Cost Marginal cost tell us the cost of producing one…

Q: d. Marginal revenue exceeds marginal cost at the current output level. e. Price exceeds average…

A: D. When the marginal revenue is greater than the marginal cost, the production of the firm will…

Q: Calculate Economic profit and Accounting profit from the figures given below for ABC Company.…

A: Companies, such as ABC company, maintain a record of all the business transactions to analyze…

Q: PakPerfect Inc. estimates equation of its total costs of production as TC = 500 + 10Q + 5Q2  and…

A: “Since you have posted a question with multiple sub-parts, we will solve first three sub-parts for…

Q: Suppose a product's revenue function is given by R(q)=−4q^2+500q Find an expression for the…

A: Meaning of Marginal Revenue: The term marginal revenue refers to the situation under which the…

Q: A demand curve is given by p = 660-3x. Assume you must pay salaries totalling 8000$ in a month.…

A: We are going to solve this question using single variable maximisation method.

Q: A demand curve is given by p = 660-3x. Assume you must pay salaries totalling 8000$ in a month.…

A: We are going to use single variable profit maximisation method to answer this question.

Q: There are two approaches to determine profit maximizing level of output: (1) total revenue– total…

A: Total profit is the difference between total revenue and total cost

Q: Round the answers to 2 decimal places. Travis Scott spent x thousands of dollars on advertising and…

A: a) To find the maximum revenue, we need to find first-order differentiation, set it equal to 0 to…

Q: The following table shows estimates of Cobb-Douglas production function parameters for several…

A:

Q: 8. The total cost C(Q) of a firm is C(Q) = Q- 12 Q? + 40 Q+ 500 where Q denotes the output.…

A: We have formulas for each part as AC = TC/ Q MC = dTC/dQ AVC = TVC/Q Using these formulas we can…

Q: Find the marginal profit function if cost and revenue are given by C(x) = 190 + 0.6x and R(x) = 7x -…

A: Answer to the question is as follows:

Q: Find the marginal and average functions for the following total functions and graph the results.…

A: Answer a) Total cost Function  C= 3Q2 + 7Q + 12 Marginal cost = Change in costChange in Quantity…

Q: How many of the following will occur with a linear total revenue curve? (i) A linear cost curve (ii)…

A: Total revenue refers to the value of all the goods and services sold in the market. The total…

Q: Based on the following data for Al-Aqsa Company: (5 Marks) - Price = $10 - Average total cost = $6 -…

A: Average total cost is the ratio of the total cost to quantity. The rise in total cost causes the…

Q: (b) Given the demand function P = 120 – 3Q, fixed cost, FC of 50 and variable cost, VC of 5 per unit…

A: Demand Function = P = 120-3Q FC = 50 VC = 5 per unit i.e. 5Q

Q: TR = 25Q - 2Q² TC = 32 + 5Q Please create a graph illustrating relationship between the Total…

A: Total revenue is the amount generated by sales of the goods and services and it is obtained by…

Q: The firm with total revenues of a 100 million explicit cost of 90 million and implicit cost of 20…

A: Accounting Profit is the difference between total revenue earned by firm and the explicit costs.…

Q: The difference between economic profit and accounting profit is that economic profit is calculated…

A: Economic profit is reffered as the total revenue of the firm (from sales) minus the costs of all…

Q: Indicate on the graph the areas that represent Total Revenue, Total Cost, and Profit. a. When P>ATC…

A: The different types of costs used by the firms to gauge their profitability are total cost, marginal…

Q: The water bottle manufacturing company in Muscat facing the following demand function P=1000-10Q.…

A: The equilibrium price and equilibrium quantity of a good sold in the market are determined by the…

Q: A company manufactures and sells x cellphones per week. The weekly price-demand and cost equations…

A: In part A, we are maximizing the total revenue of the firm and in part B we are maximizing the total…

Q: Taylor used to work as a yoga instructor at the local gym earning $27,000 a year. Taylor quit that…

A: Accounting profit is the net income for a company, which is revenue minus expenses. Economic profit…

Q: 3. Given the total profit and the fixed cost TFC is 40, variable cost are 2 then the total revenue…

A: The method for Total Revenue is as follows: Number of Products Sold x Price Per Product = Total…

Q: Your Uncle plans to open a business that will operate five stores in the Mississauga area. Four of…

A: Production function for first 4 firms : q = K1/4L1/4 Production function for 5th Firm : q = 2*…

Q: Do operating strategies of average cost minimization and profit maximization always lead to…

A: Average cost reduction and profit maximization are operating techniques that provide comparable…

Q: Julie owns a store that sells previously-owned video games. Last year, Julie generated $250,000 in…

A: Accounting profit is the net income for a company, which is revenue minus expenses. Economic profit…

Q: Q9: Given the Average revenue AR = 60 – 3Q a) Find the marginal revenue function. b) Compare between…

A: Here, average revenue curve is given as: AR= 60-3Q According to the AR function, total revenue…

Q: Aji Fatou is thinking about opening a hardware store. She estimates that it would cost $500,000 per…

A: * ANSWER :-    Given that ,  Aji Fatou is thinking about opening a hardware store she estimates that…

Q: If a firm’s current revenues are less than its current variable costs, when should it shut down? If…

A: The firms have several things to look after, including the total costs, fixed costs, variable costs,…

Q: The cost and revenue functions for a company that manufactures x table saws are given. R(x) = 200x –…

A: By dividing total revenue(TR) by quantity(x) we will get the average revenue(AR) and by dividing…

Form Utility

The term utility in general refers to the satisfaction earned from usage of a particular product or service. Utility always plays an important role because it influences various important elements like demand & thereby the price of the good or service as well. Though utility is not easy to measure, various types of economic models can be used indirectly. There can be various types of utilities like economic utility, marginal utility, cardinal utility, form utility.