Required Q (2) if the demand function for a particular project is in the following form: Q = 75 - 5P Required: - Finding the price elasticity of demand when the price is 3 = P %3D 8:50 PM
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- The estimated daily demand for river corssings on a proposed new bridge is: Qd = 100,000 - 20,000P where Qd is the quantity demanded measured in number of daily crossings and P is the price(toll) per crossing in dollars. Engineers estimate that constructing the new bridge will result in a fixed cost of $1.2 billion or $120,000 per day over the life of the bridge. Once constructed, there are no marginal costs and variable costs associated with the bridge's use. Based upon the above information, answer the following questions: a. If a private company were to build the bridge, what would be the profit-maximizing number of daily crossings? b. What price per crossing(toll) would the profit-maximizing company establish? c. What would be the socially optimal number of daily crossings? d. What deadweight loss would exist given your answers to part (a) and (b)? e. Would a profit-maximizing company build the bridge?Demand for a company’s product is given by the following equation: Q=1000-0.5P. You are also given that its total cost function TC=100+1000Q. Compute the profit maximizing price and quantity B. A firm earns an accounting profit of K150, 000 per year in project A. The firm could earn K150, 000 and K120, 000 in investments B and C, respectively. How much economic profit is the firm earning assuming the three projects are mutually exclusive?Q1. Game console manufacturing determines that in order to sell Q units, the price per unit (in dollar) must decreased by the linear demand (the demand function) P(Q)= 800- 0.3Q($/device) The manufacturer also determine that the cost depends on the volume of production and includes a fixed part 500,000($) and a variable part 500Q , that is C(Q)= 500000+ 500Q What price per unit must be charged to get the maximum profit?
- denton productions limited utilizes statistical analysis to determine the optimal price for its sales to customera, during july 2020, the company was provided with the following demand and cost functions by a statistical research company, p=200-6Q, where p=price in dollars; and Q=quantitity of units in thousands TC=5Q2 + 24Q + 150, where TC is total costs in thousands of dollars a. determine the maximum sales revenue b. calculate the maximum profitMr. Mondal is a potato wholesaler at Nasik. The per capita consumption of potatoes per day is about 200 grams. Currently, potatoes are being priced at Rs.6 per kg. The price elasticity of potatoes is 0.62. Due to present short supply of potatoes Mr. Mondal decides to increase the price. If he can sustain a reduced sales volume up to 10%, compute the maximum price he can set is (Round off your answer up to one decimal only)Drives Co. sells portable hard drives. They can sell 600 drives when the price is $75/drive, and they can sell 720 drives when the price is $45/drive. If x represents the number of drives sold, determine the following. (a) What is Drive Co.'s revenue function? R(x) =_ (b)What is the price per drive (in dollars) when revenue is maximized? _ (c) What is the maximum profit (in dollars) made from the sale of these drives if Drive Co. incurs production costs of $165 per drive and has fixed costs of $625? $_
- A firm has an annual demand of S units for a good whose purchase cost is £c per unit. Each order costs £a to place, and the cost of holding stock is b% of the average value of stock per annum. Determine the optimal order quantity. A local firm uses 2000 units of a particular component each year. The component has a purchase price of £4/unit, while the cost of holding stock is estimated at 20% of the average stock value. If the cost of placing each order is £12.50, find the optimal number of orders placed each year. Suppose the component supplier offers a discount of 2% on the purchase price if orders are placed in units of 1000. Is the discount worth accepting? Suppose that instead of a single figure you had been given a probability distribution for the number of units used each year. Indicate the effect on stock policy.. Please explain fully , the last part is also important to solve.A firm produces two goods, A and B. Due to the product A’s fall in popularity near the end of last year, the estimated demand (units purchased) for A is 25% less than that of B. The selling price per unit is $30 for A and $20 for B. If the revenue target is $85,000 this year, how much of each of the two goods must be sold? (Round to whole number if necessary)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
- Demand has grown at Dairy May Farms, and it is considering expanding. One option is to expand by purchasing a verylarge farm that will be able to meet expected future demand.Another option is to expand the current facility by a small amountnow and take a wait-and-see attitude, with the possibility of alarger expansion in two years.Management has estimated the following chances for demand:• Th e likelihood of demand being high is 0.70.• Th e likelihood of demand being low is 0.30.Profi ts for each alternative have been estimated as follows:• Large expansion has an estimated profi tability of either$40,000 or $20,000, depending on whether demand turnsout to be high or low.• Small expansion has a profi tability of $15,000, assuming thatdemand is low.• Small expansion with an occurrence of high demand wouldrequire considering whether to expand further. If thecompany expands at that point, the profi tability is expectedto be $35,000. If it does not expand further, the profi tabilityis…The demand curve for CO2 systems can be considered as a kinked demand curve. One analysis company has helped and they find that the kink occurs at around 15 plants sold at a price of DKK 4.4 million. DKK per plant. At a price increase based on the kink, the analysis company estimates the price elasticity to -2. Furthermore, the analysis company has found that at a price of DKK 0, it the requested quantity is 40 plants. Derive and draw the kinked demand function and the associated MR function based on the given data. If necessary, make other necessary assumptions yourself.Apply the properties of functions to correctly determine and interpret the break-even point in the following situations, using valid mathematical procedures and correct mathematical notation. Express your answer in terms of the context of the problem. The supply and demand equations for a certain product are: (1) and (2) respectively, where p represents the price per unit in dollars and q, the number of units sold per period. 3q - 200p + 1800 = 0 3q + 100p - 1800 = 0 Algebraically find the equilibrium price. Find and interpret the equilibrium price when a supplier tax of 27 cents per unit is imposed.