XL Corp has estimated its demand and cost functions to be as follows: P = 60 - 0.2Q C2004Q+ 1.2(Q)^2 where Q is in units, P is in $ and C is in $. a. Calculate the profit - maximizing price and output. b. Calculate the size of the profit. c. Calculate the price elasticity of demand at the above price. d. If there is a $14 tax placed on the good, so that the producer has to pay the government $14 for every unit sold, calculate the new profit maximizing price and output. e. What would happen to profit if the firm tried to pass on all the tax to the consumer in the form of a higher price? f. If fixed costs rise by $200 how would this affect the firm's situation?

What is the price elasticity of demand at the profit-maximizing price for a company that has demand function Q = 140 - 0.2P and cost function C = 100Q? A. -1/5B. -1C. -4/3D. -2

The total revenue function of a good is given by TR=100 Q - Q2   If the current demand is 40. The estimated change in the value of TR due to a 3 unit decrease in Q is: a. 40 b. 60 c. - 60 d. - 40

A garden shop determines the demand function D(p) = 4p+1000 during early summer for %3D 40p+26 comato plants where q is the number of plants sold per day when the price is p dollars per plant. a. Find the price elasticity of demand equation. b. Calculate the price elasticity of demand at a price of $3. Is the demand elastic, inelastic, or unit elastic? How do you know? C. Based on the information in part b, should the garden shop increase, decrease, or leave the price the same at $3 if it wants to increase revenue? Explain. d. Calculate the revenue before the price change and after to support your answer to part c.

On the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 6, 12, 15, 18, 24, and 30 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results.   Calculate the total revenue if the firm produces 6 versus 5 units. Then, calculate the marginal revenue of the sixth unit produced. The marginal revenue of the sixth unit produced is________.   Calculate the total revenue if the firm produces 12 versus 11 units. Then, calculate the marginal revenue of the 12th unit produced. The marginal revenue of the 12th unit produced is_________.

A local company is planning to manufacture and market a four-slice toaster. For this toaster, the research department’s estimates are aweekly demand of 300 toasters at a price of $25 per toaster and a weekly demand of 400 toasters at a price of $20. The financial department’s estimates are fixed weekly costs of$5,000 and variable costs of $5 per toaster. a) Assume that the relationship between price ? and demand ? is linear. Use the research department’s estimates to express ? as a function of ? and determine the domain of the function. b) Using your knowledge from Finite Math, determine the Revenue function in terms of ?. c) Determine the Marginal Revenue at 2 different production levels for example 250 and 500 units. Interpret these results. (HINT: Consider what a positive or negative first derivative implies) d) Assume that the cost function is linear. Use the financial department’s estimates to express the cost function interms of ?. e) Determinethe Marginal costand interpret the…

Given Question #1 Cost function C= 3000+6Q Q = 4400 - 200Q - This is the demand function Q= 1600 P = 14 Profit= 22400-12600 = 9800 Question #2  Q=$480 Q=$1120 Question #3 Ed=−1.25  Ed=−0.55 0.5<0.8− markup index it is charging less. 0.64<-1/-0.55--markup index it is charging less. Please answer question #5 A-C 5. Optimal price in San Antonio You decide to charge different prices in the two locations.  To do this, you decide to use the demand functions you estimated in Q2 to calculate separate optimal prices in the two locations.   For your costs in San Antonio, you have fixed costs of $2000 per week. In addition, it costs you six dollars per burger in variable costs (ingredients, labor etc.) A. What is your cost function in San Antonio? B. Using the demand function from Q2, calculate the profit maximizing price and quantity.  Is the new price higher or lower than the price if you do not price discriminate?  Is this consistent with your answer from Q3? C. What are your…

If the price is given as 20 per unit and the given quantity is $150 billion  Find the Total revenue

The demand function for product is p = -4q+400 and the average cost for producing q units 500 is c = 37q + 40 + where p= price, and q= quantity demand. 2 9 1. 2. 3. 4. Compute the point elasticity of demand and find the intervals where the demand is inelastic, elastic, and the price for which the demand is unit elastic. Find the quantity that maximizes the total revenue and the corresponding price. Interpret your result. Find the quantity that minimizes the average cost function and the corresponding price. Interpret your results. What are the quantity and the price that maximize the profit? What is the maximum profit? Interpret your result.

The demand curve for product a is given as Q = 2000 - 20P. What will be the total revenue at a price of $70? What will be the marginal revenue? What is the point elasticity at a price of $70? If price were to decrease to $60, what would total revenue, marginal revenue, and point elasticity be now? At what price would elasticity be unitary?