The nonlinear profit function for the company and determine the price, which would maximize the profit.

Question

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Answer 1

Question

Chapter 10, Problem 1P

Summary Introduction

To develop: The nonlinear profit function for the company and determine the price, which would maximize the profit.

Expert Solution & Answer

Explanation of Solution

Given information:

It is given that the fixed cost is$7,500, variable cost is $40, and it is stated that the price is related to demand. In addition to this, the following equation is given:

v=400−1.2p

Develop the nonlinear profit function and determine the price:

Z=vp−cf−vcv=(400−1.2p)p−$7,500−(400−1.2p)$40=400p−1.2p2−$7500−16,000+48p=448p−1.2p2−$23,500

Determine the price:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 1

Solver parameter:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 2

Formulae to determine the table value:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 3

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Answer 2

Question

Chapter 10, Problem 1P

Summary Introduction

To develop: The nonlinear profit function for the company and determine the price, which would maximize the profit.

Expert Solution & Answer

Explanation of Solution

Given information:

It is given that the fixed cost is$7,500, variable cost is $40, and it is stated that the price is related to demand. In addition to this, the following equation is given:

v=400−1.2p

Develop the nonlinear profit function and determine the price:

Z=vp−cf−vcv=(400−1.2p)p−$7,500−(400−1.2p)$40=400p−1.2p2−$7500−16,000+48p=448p−1.2p2−$23,500

Determine the price:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 1

Solver parameter:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 2

Formulae to determine the table value:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 3

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Answer 3

Question

Chapter 10, Problem 1P

Summary Introduction

To develop: The nonlinear profit function for the company and determine the price, which would maximize the profit.

Expert Solution & Answer

Explanation of Solution

Given information:

It is given that the fixed cost is$7,500, variable cost is $40, and it is stated that the price is related to demand. In addition to this, the following equation is given:

v=400−1.2p

Develop the nonlinear profit function and determine the price:

Z=vp−cf−vcv=(400−1.2p)p−$7,500−(400−1.2p)$40=400p−1.2p2−$7500−16,000+48p=448p−1.2p2−$23,500

Determine the price:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 1

Solver parameter:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 2

Formulae to determine the table value:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 3

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Answer 4

Question

Chapter 10, Problem 1P

Summary Introduction

To develop: The nonlinear profit function for the company and determine the price, which would maximize the profit.

Expert Solution & Answer

Explanation of Solution

Given information:

It is given that the fixed cost is$7,500, variable cost is $40, and it is stated that the price is related to demand. In addition to this, the following equation is given:

v=400−1.2p

Develop the nonlinear profit function and determine the price:

Z=vp−cf−vcv=(400−1.2p)p−$7,500−(400−1.2p)$40=400p−1.2p2−$7500−16,000+48p=448p−1.2p2−$23,500

Determine the price:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 1

Solver parameter:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 2

Formulae to determine the table value:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 3

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Answer 5

Chapter 10, Problem 1P

Summary Introduction

To develop: The nonlinear profit function for the company and determine the price, which would maximize the profit.

Expert Solution & Answer

Explanation of Solution

Given information:

It is given that the fixed cost is$7,500, variable cost is $40, and it is stated that the price is related to demand. In addition to this, the following equation is given:

v=400−1.2p

Develop the nonlinear profit function and determine the price:

Z=vp−cf−vcv=(400−1.2p)p−$7,500−(400−1.2p)$40=400p−1.2p2−$7500−16,000+48p=448p−1.2p2−$23,500

Determine the price:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 1

Solver parameter:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 2

Formulae to determine the table value:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 3

Answer 6

Chapter 10, Problem 1P

Summary Introduction

To develop: The nonlinear profit function for the company and determine the price, which would maximize the profit.

Expert Solution & Answer

Explanation of Solution

Given information:

It is given that the fixed cost is$7,500, variable cost is $40, and it is stated that the price is related to demand. In addition to this, the following equation is given:

v=400−1.2p

Develop the nonlinear profit function and determine the price:

Z=vp−cf−vcv=(400−1.2p)p−$7,500−(400−1.2p)$40=400p−1.2p2−$7500−16,000+48p=448p−1.2p2−$23,500

Determine the price:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 1

Solver parameter:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 2

Formulae to determine the table value:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 3

Answer 7

Chapter 10, Problem 1P

Summary Introduction

To develop: The nonlinear profit function for the company and determine the price, which would maximize the profit.

Answer 8

Expert Solution & Answer

Explanation of Solution

Given information:

It is given that the fixed cost is$7,500, variable cost is $40, and it is stated that the price is related to demand. In addition to this, the following equation is given:

v=400−1.2p

Develop the nonlinear profit function and determine the price:

Z=vp−cf−vcv=(400−1.2p)p−$7,500−(400−1.2p)$40=400p−1.2p2−$7500−16,000+48p=448p−1.2p2−$23,500

Determine the price:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 1

Solver parameter:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 2

Formulae to determine the table value:

EBK INTRO.TO MANAGEMENT SCIENCE, Chapter 10, Problem 1P , additional homework tip 3

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Ch. 10 - Prob. 1P Ch. 10 - Prob. 2P Ch. 10 - Prob. 3P Ch. 10 - Prob. 4P Ch. 10 - Prob. 5P Ch. 10 - Prob. 6P Ch. 10 - Prob. 7P Ch. 10 - Prob. 8P Ch. 10 - Prob. 9P Ch. 10 - Prob. 10P

The nonlinear profit function for the company and determine the price, which would maximize the profit.

Concept explainers

To develop: The nonlinear profit function for the company and determine the price, which would maximize the profit.

Explanation of Solution

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Chapter 10 Solutions