Chapter 12, Problem 42RE

BuyFind*arrow_forward*

11th Edition

Ronald J. Harshbarger + 1 other

ISBN: 9781305108042

Textbook Problem

** Profit** Suppose a product has a daily marginal revenue

To determine

**To calculate:** The optimal level of production where a firm has marginal cost of production is

Explanation

**Given information:**

It is provided that a firm has marginal cost of production is

**Formula used:**

The Optimal Production,

When marginal revenue equals to the marginal cost then the optimal production occurs.

The Total Cost,

Where

Total Revenue,

Where

The Profit,

The profit function

**Calculation:**

Consider the marginal cost and marginal revenue:

Use the formula of optimal profit,

Solve to get,

Thus, maximum occurs at

Sect-12.1 P-1CPSect-12.1 P-2CPSect-12.1 P-1ESect-12.1 P-2ESect-12.1 P-3ESect-12.1 P-4ESect-12.1 P-5ESect-12.1 P-6ESect-12.1 P-7ESect-12.1 P-8E

Sect-12.1 P-9ESect-12.1 P-10ESect-12.1 P-11ESect-12.1 P-12ESect-12.1 P-13ESect-12.1 P-14ESect-12.1 P-15ESect-12.1 P-16ESect-12.1 P-17ESect-12.1 P-18ESect-12.1 P-19ESect-12.1 P-20ESect-12.1 P-21ESect-12.1 P-22ESect-12.1 P-23ESect-12.1 P-24ESect-12.1 P-25ESect-12.1 P-26ESect-12.1 P-27ESect-12.1 P-28ESect-12.1 P-29ESect-12.1 P-30ESect-12.1 P-31ESect-12.1 P-32ESect-12.1 P-33ESect-12.1 P-34ESect-12.1 P-35ESect-12.1 P-36ESect-12.1 P-37ESect-12.1 P-38ESect-12.1 P-39ESect-12.1 P-40ESect-12.1 P-41ESect-12.1 P-42ESect-12.1 P-43ESect-12.1 P-44ESect-12.1 P-45ESect-12.1 P-46ESect-12.1 P-47ESect-12.1 P-48ESect-12.1 P-49ESect-12.1 P-50ESect-12.1 P-51ESect-12.1 P-52ESect-12.1 P-53ESect-12.1 P-54ESect-12.1 P-55ESect-12.1 P-56ESect-12.2 P-1CPSect-12.2 P-2CPSect-12.2 P-3CPSect-12.2 P-4CPSect-12.2 P-1ESect-12.2 P-2ESect-12.2 P-3ESect-12.2 P-4ESect-12.2 P-5ESect-12.2 P-6ESect-12.2 P-7ESect-12.2 P-8ESect-12.2 P-9ESect-12.2 P-10ESect-12.2 P-11ESect-12.2 P-12ESect-12.2 P-13ESect-12.2 P-14ESect-12.2 P-15ESect-12.2 P-16ESect-12.2 P-17ESect-12.2 P-18ESect-12.2 P-19ESect-12.2 P-20ESect-12.2 P-21ESect-12.2 P-22ESect-12.2 P-23ESect-12.2 P-24ESect-12.2 P-25ESect-12.2 P-26ESect-12.2 P-27ESect-12.2 P-28ESect-12.2 P-29ESect-12.2 P-30ESect-12.2 P-31ESect-12.2 P-32ESect-12.2 P-33ESect-12.2 P-34ESect-12.2 P-35ESect-12.2 P-36ESect-12.2 P-37ESect-12.2 P-38ESect-12.2 P-39ESect-12.2 P-40ESect-12.2 P-41ESect-12.2 P-42ESect-12.2 P-43ESect-12.2 P-44ESect-12.2 P-45ESect-12.2 P-46ESect-12.2 P-47ESect-12.2 P-48ESect-12.2 P-49ESect-12.2 P-50ESect-12.2 P-51ESect-12.2 P-52ESect-12.2 P-53ESect-12.2 P-54ESect-12.3 P-1CPSect-12.3 P-2CPSect-12.3 P-3CPSect-12.3 P-1ESect-12.3 P-2ESect-12.3 P-3ESect-12.3 P-4ESect-12.3 P-5ESect-12.3 P-6ESect-12.3 P-7ESect-12.3 P-8ESect-12.3 P-9ESect-12.3 P-10ESect-12.3 P-11ESect-12.3 P-12ESect-12.3 P-13ESect-12.3 P-14ESect-12.3 P-15ESect-12.3 P-16ESect-12.3 P-17ESect-12.3 P-18ESect-12.3 P-19ESect-12.3 P-20ESect-12.3 P-21ESect-12.3 P-22ESect-12.3 P-23ESect-12.3 P-24ESect-12.3 P-25ESect-12.3 P-26ESect-12.3 P-27ESect-12.3 P-28ESect-12.3 P-29ESect-12.3 P-30ESect-12.3 P-31ESect-12.3 P-32ESect-12.3 P-33ESect-12.3 P-34ESect-12.3 P-35ESect-12.3 P-36ESect-12.3 P-37ESect-12.3 P-38ESect-12.3 P-39ESect-12.3 P-40ESect-12.3 P-41ESect-12.3 P-42ESect-12.3 P-43ESect-12.3 P-44ESect-12.3 P-45ESect-12.3 P-46ESect-12.3 P-47ESect-12.3 P-48ESect-12.3 P-49ESect-12.3 P-50ESect-12.3 P-56ESect-12.4 P-1CPSect-12.4 P-2CPSect-12.4 P-3CPSect-12.4 P-4CPSect-12.4 P-1ESect-12.4 P-2ESect-12.4 P-3ESect-12.4 P-4ESect-12.4 P-5ESect-12.4 P-6ESect-12.4 P-7ESect-12.4 P-8ESect-12.4 P-9ESect-12.4 P-10ESect-12.4 P-11ESect-12.4 P-12ESect-12.4 P-13ESect-12.4 P-14ESect-12.4 P-15ESect-12.4 P-16ESect-12.4 P-17ESect-12.4 P-18ESect-12.4 P-19ESect-12.4 P-20ESect-12.4 P-21ESect-12.4 P-23ESect-12.4 P-24ESect-12.4 P-26ESect-12.5 P-1CPSect-12.5 P-2CPSect-12.5 P-3CPSect-12.5 P-1ESect-12.5 P-2ESect-12.5 P-3ESect-12.5 P-4ESect-12.5 P-5ESect-12.5 P-6ESect-12.5 P-7ESect-12.5 P-8ESect-12.5 P-9ESect-12.5 P-10ESect-12.5 P-11ESect-12.5 P-12ESect-12.5 P-13ESect-12.5 P-14ESect-12.5 P-15ESect-12.5 P-16ESect-12.5 P-17ESect-12.5 P-18ESect-12.5 P-19ESect-12.5 P-20ESect-12.5 P-21ESect-12.5 P-22ESect-12.5 P-23ESect-12.5 P-24ESect-12.5 P-25ESect-12.5 P-26ESect-12.5 P-27ESect-12.5 P-28ESect-12.5 P-29ESect-12.5 P-30ESect-12.5 P-31ESect-12.5 P-32ESect-12.5 P-33ESect-12.5 P-34ESect-12.5 P-35ESect-12.5 P-36ESect-12.5 P-37ESect-12.5 P-38ESect-12.5 P-39ESect-12.5 P-40ESect-12.5 P-41ESect-12.5 P-42ESect-12.5 P-43ESect-12.5 P-44ESect-12.5 P-45ESect-12.5 P-46ESect-12.5 P-47ESect-12.5 P-48ESect-12.5 P-49ESect-12.5 P-50ESect-12.5 P-51ESect-12.5 P-52ESect-12.5 P-53ESect-12.5 P-54ESect-12.5 P-55ESect-12.5 P-56ESect-12.5 P-57ESect-12.5 P-58ECh-12 P-1RECh-12 P-2RECh-12 P-3RECh-12 P-4RECh-12 P-5RECh-12 P-6RECh-12 P-7RECh-12 P-8RECh-12 P-9RECh-12 P-10RECh-12 P-11RECh-12 P-12RECh-12 P-13RECh-12 P-14RECh-12 P-15RECh-12 P-16RECh-12 P-17RECh-12 P-18RECh-12 P-19RECh-12 P-20RECh-12 P-21RECh-12 P-22RECh-12 P-23RECh-12 P-24RECh-12 P-25RECh-12 P-26RECh-12 P-27RECh-12 P-28RECh-12 P-29RECh-12 P-30RECh-12 P-31RECh-12 P-32RECh-12 P-33RECh-12 P-34RECh-12 P-35RECh-12 P-36RECh-12 P-37RECh-12 P-38RECh-12 P-39RECh-12 P-40RECh-12 P-41RECh-12 P-42RECh-12 P-43RECh-12 P-44RECh-12 P-45RECh-12 P-46RECh-12 P-47RECh-12 P-48RECh-12 P-49RECh-12 P-1TCh-12 P-2TCh-12 P-3TCh-12 P-4TCh-12 P-5TCh-12 P-6TCh-12 P-7TCh-12 P-8TCh-12 P-9TCh-12 P-10TCh-12 P-11TCh-12 P-12TCh-12 P-13TCh-12 P-14TCh-12 P-15TCh-12 P-16TCh-12 P-17TCh-12 P-18TCh-12 P-19TCh-12 P-20TCh-12 P-21TCh-12 P-22T

Essentials Of Statistics

Precalculus: Mathematics for Calculus (Standalone Book)

Calculus: An Applied Approach (MindTap Course List)

Calculus: Early Transcendentals

Understanding Basic Statistics

Multivariable Calculus

Single Variable Calculus

Calculus (MindTap Course List)

Intermediate Algebra

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

Finite Mathematics and Applied Calculus (MindTap Course List)

Calculus: Early Transcendental Functions

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

Statistics for The Behavioral Sciences (MindTap Course List)

Applied Calculus

Probability and Statistics for Engineering and the Sciences

Single Variable Calculus: Early Transcendentals, Volume I

Elementary Technical Mathematics

Mathematical Excursions (MindTap Course List)

Trigonometry (MindTap Course List)

Contemporary Mathematics for Business & Consumers

Elementary Geometry For College Students, 7e

Elements Of Modern Algebra

Finite Mathematics for the Managerial, Life, and Social Sciences

Elementary Geometry for College Students

Calculus of a Single Variable

Calculus: Early Transcendental Functions (MindTap Course List)

Single Variable Calculus: Early Transcendentals

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

Introduction To Statistics And Data Analysis

Study Guide for Stewart's Multivariable Calculus, 8th

Mathematics For Machine Technology

Calculus (MindTap Course List)

Research Methods for the Behavioral Sciences (MindTap Course List)

Research Methods for the Behavioral Sciences (MindTap Course List)

College Algebra (MindTap Course List)

Multivariable Calculus

STATISTICS F/BUSINESS+ECONOMICS-TEXT

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