Chapter 10.3, Problem 36E

BuyFind*arrow_forward*

11th Edition

Ronald J. Harshbarger + 1 other

ISBN: 9781305108042

Textbook Problem

A small business has weekly average costs, in dollars, of

*x* is the number of units produced each week. The competitive market price for this business’s product is $46 per unit. If production is limited to 150 units per week, find the level of production that yields maximum profit, and find the maximum profit.

To determine

**To calculate:** The level of production which provides maximum profit, and also, calculate the maximum profit. If the average weekly cost (in dollar) is given as,

Where

Explanation

**Given Information:**

The provided average weekly cost (in dollar) is given as,

Where

The selling price for the product in competitive market is

**Formula Used:**

The total profit function is:

Where

**Calculation:**

Consider the provided average weekly cost (in dollars),

Where

Since, the selling price for the product in competitive market is

Thus the total profit function is:

Let

Total cost function can be written as:

Total revenue function can be written as:

Now, substitute the values of

Sect-10.1 P-1CPSect-10.1 P-2CPSect-10.1 P-3CPSect-10.1 P-4CPSect-10.1 P-1ESect-10.1 P-2ESect-10.1 P-3ESect-10.1 P-4ESect-10.1 P-5ESect-10.1 P-6E

Sect-10.1 P-7ESect-10.1 P-8ESect-10.1 P-9ESect-10.1 P-10ESect-10.1 P-11ESect-10.1 P-12ESect-10.1 P-13ESect-10.1 P-14ESect-10.1 P-15ESect-10.1 P-16ESect-10.1 P-17ESect-10.1 P-18ESect-10.1 P-19ESect-10.1 P-20ESect-10.1 P-21ESect-10.1 P-22ESect-10.1 P-23ESect-10.1 P-24ESect-10.1 P-25ESect-10.1 P-26ESect-10.1 P-27ESect-10.1 P-28ESect-10.1 P-29ESect-10.1 P-30ESect-10.1 P-31ESect-10.1 P-32ESect-10.1 P-33ESect-10.1 P-34ESect-10.1 P-35ESect-10.1 P-36ESect-10.1 P-37ESect-10.1 P-38ESect-10.1 P-39ESect-10.1 P-40ESect-10.1 P-41ESect-10.1 P-42ESect-10.1 P-43ESect-10.1 P-44ESect-10.1 P-45ESect-10.1 P-46ESect-10.1 P-47ESect-10.1 P-48ESect-10.1 P-49ESect-10.1 P-50ESect-10.1 P-51ESect-10.1 P-52ESect-10.1 P-53ESect-10.1 P-54ESect-10.1 P-55ESect-10.1 P-56ESect-10.1 P-57ESect-10.1 P-58ESect-10.1 P-59ESect-10.1 P-60ESect-10.1 P-61ESect-10.1 P-62ESect-10.1 P-63ESect-10.1 P-64ESect-10.1 P-65ESect-10.2 P-1CPSect-10.2 P-2CPSect-10.2 P-3CPSect-10.2 P-4CPSect-10.2 P-1ESect-10.2 P-2ESect-10.2 P-3ESect-10.2 P-4ESect-10.2 P-5ESect-10.2 P-6ESect-10.2 P-7ESect-10.2 P-8ESect-10.2 P-9ESect-10.2 P-10ESect-10.2 P-11ESect-10.2 P-12ESect-10.2 P-13ESect-10.2 P-14ESect-10.2 P-15ESect-10.2 P-16ESect-10.2 P-17ESect-10.2 P-18ESect-10.2 P-19ESect-10.2 P-20ESect-10.2 P-21ESect-10.2 P-22ESect-10.2 P-23ESect-10.2 P-24ESect-10.2 P-25ESect-10.2 P-26ESect-10.2 P-27ESect-10.2 P-28ESect-10.2 P-29ESect-10.2 P-30ESect-10.2 P-31ESect-10.2 P-32ESect-10.2 P-33ESect-10.2 P-34ESect-10.2 P-35ESect-10.2 P-36ESect-10.2 P-37ESect-10.2 P-38ESect-10.2 P-39ESect-10.3 P-1CPSect-10.3 P-2CPSect-10.3 P-3CPSect-10.3 P-4CPSect-10.3 P-1ESect-10.3 P-2ESect-10.3 P-3ESect-10.3 P-5ESect-10.3 P-6ESect-10.3 P-7ESect-10.3 P-8ESect-10.3 P-9ESect-10.3 P-10ESect-10.3 P-11ESect-10.3 P-12ESect-10.3 P-13ESect-10.3 P-14ESect-10.3 P-15ESect-10.3 P-16ESect-10.3 P-17ESect-10.3 P-18ESect-10.3 P-19ESect-10.3 P-20ESect-10.3 P-21ESect-10.3 P-22ESect-10.3 P-23ESect-10.3 P-24ESect-10.3 P-25ESect-10.3 P-26ESect-10.3 P-27ESect-10.3 P-28ESect-10.3 P-29ESect-10.3 P-30ESect-10.3 P-33ESect-10.3 P-34ESect-10.3 P-35ESect-10.3 P-36ESect-10.3 P-37ESect-10.3 P-38ESect-10.3 P-39ESect-10.3 P-40ESect-10.3 P-41ESect-10.3 P-42ESect-10.3 P-43ESect-10.3 P-47ESect-10.3 P-48ESect-10.3 P-49ESect-10.4 P-1CPSect-10.4 P-2CPSect-10.4 P-3CPSect-10.4 P-1ESect-10.4 P-2ESect-10.4 P-3ESect-10.4 P-4ESect-10.4 P-5ESect-10.4 P-6ESect-10.4 P-7ESect-10.4 P-8ESect-10.4 P-9ESect-10.4 P-10ESect-10.4 P-11ESect-10.4 P-12ESect-10.4 P-13ESect-10.4 P-14ESect-10.4 P-15ESect-10.4 P-16ESect-10.4 P-17ESect-10.4 P-18ESect-10.4 P-19ESect-10.4 P-20ESect-10.4 P-21ESect-10.4 P-22ESect-10.4 P-23ESect-10.4 P-24ESect-10.4 P-25ESect-10.4 P-26ESect-10.4 P-27ESect-10.4 P-28ESect-10.4 P-29ESect-10.4 P-30ESect-10.4 P-31ESect-10.4 P-32ESect-10.4 P-33ESect-10.5 P-1CPSect-10.5 P-2CPSect-10.5 P-1ESect-10.5 P-2ESect-10.5 P-3ESect-10.5 P-4ESect-10.5 P-5ESect-10.5 P-6ESect-10.5 P-7ESect-10.5 P-8ESect-10.5 P-9ESect-10.5 P-10ESect-10.5 P-11ESect-10.5 P-12ESect-10.5 P-13ESect-10.5 P-14ESect-10.5 P-15ESect-10.5 P-16ESect-10.5 P-17ESect-10.5 P-18ESect-10.5 P-19ESect-10.5 P-20ESect-10.5 P-21ESect-10.5 P-22ESect-10.5 P-23ESect-10.5 P-24ESect-10.5 P-25ESect-10.5 P-26ESect-10.5 P-27ESect-10.5 P-28ESect-10.5 P-29ESect-10.5 P-30ESect-10.5 P-31ESect-10.5 P-32ESect-10.5 P-33ESect-10.5 P-34ESect-10.5 P-35ESect-10.5 P-36ESect-10.5 P-37ESect-10.5 P-38ESect-10.5 P-39ESect-10.5 P-40ESect-10.5 P-41ESect-10.5 P-42ESect-10.5 P-43ECh-10 P-1RECh-10 P-2RECh-10 P-3RECh-10 P-4RECh-10 P-5RECh-10 P-6RECh-10 P-7RECh-10 P-8RECh-10 P-9RECh-10 P-10RECh-10 P-11RECh-10 P-12RECh-10 P-13RECh-10 P-14RECh-10 P-15RECh-10 P-16RECh-10 P-17RECh-10 P-18RECh-10 P-19RECh-10 P-20RECh-10 P-21RECh-10 P-22RECh-10 P-23RECh-10 P-24RECh-10 P-25RECh-10 P-26RECh-10 P-27RECh-10 P-28RECh-10 P-29RECh-10 P-30RECh-10 P-31RECh-10 P-32RECh-10 P-33RECh-10 P-34RECh-10 P-35RECh-10 P-36RECh-10 P-37RECh-10 P-38RECh-10 P-39RECh-10 P-40RECh-10 P-41RECh-10 P-42RECh-10 P-43RECh-10 P-44RECh-10 P-45RECh-10 P-46RECh-10 P-47RECh-10 P-48RECh-10 P-49RECh-10 P-50RECh-10 P-51RECh-10 P-52RECh-10 P-53RECh-10 P-54RECh-10 P-55RECh-10 P-1TCh-10 P-2TCh-10 P-3TCh-10 P-4TCh-10 P-5TCh-10 P-6TCh-10 P-7TCh-10 P-8TCh-10 P-9TCh-10 P-10TCh-10 P-11TCh-10 P-12TCh-10 P-13TCh-10 P-14TCh-10 P-15TCh-10 P-16TCh-10 P-17T

Finite Mathematics

Statistics for The Behavioral Sciences (MindTap Course List)

Calculus: Early Transcendental Functions

Essentials of Statistics for The Behavioral Sciences (MindTap Course List)

Finite Mathematics and Applied Calculus (MindTap Course List)

Single Variable Calculus

Understanding Basic Statistics

Calculus: An Applied Approach (MindTap Course List)

Precalculus: Mathematics for Calculus (Standalone Book)

Applied Calculus

Multivariable Calculus

Probability and Statistics for Engineering and the Sciences

Essentials Of Statistics

Applied Calculus for the Managerial, Life, and Social Sciences: A Brief Approach

Single Variable Calculus: Early Transcendentals, Volume I

Calculus (MindTap Course List)

Intermediate Algebra

Calculus: Early Transcendentals

Mathematical Excursions (MindTap Course List)

Elementary Technical Mathematics

Trigonometry (MindTap Course List)

Elements Of Modern Algebra

Elementary Geometry For College Students, 7e

Contemporary Mathematics for Business & Consumers

Finite Mathematics for the Managerial, Life, and Social Sciences

Single Variable Calculus: Early Transcendentals

Calculus: Early Transcendental Functions (MindTap Course List)

Elementary Geometry for College Students

Calculus of a Single Variable

Introduction To Statistics And Data Analysis

Study Guide for Stewart's Single Variable Calculus: Early Transcendentals, 8th

Study Guide for Stewart's Multivariable Calculus, 8th

Mathematics For Machine Technology

College Algebra (MindTap Course List)

Research Methods for the Behavioral Sciences (MindTap Course List)

Calculus (MindTap Course List)

Multivariable Calculus

Research Methods for the Behavioral Sciences (MindTap Course List)

STATISTICS F/BUSINESS+ECONOMICS-TEXT

Statistics for Business & Economics, Revised (MindTap Course List)