Mathematics Application for Management, Life, and Soc.... (Instructor's)
12th Edition
ISBN: 9781337630450
Author: HARSHBARGER
Publisher: Cengage
expand_more
expand_more
format_list_bulleted
Concept explainers
Question
Chapter 14.3, Problem 26E
To determine
To calculate: A pair of prices
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
A publisher for a promising new novel figures fixed costs (overhead, advances, promotion, copyediting, typesetting, and so on) at $87,000 and variable costs (printing, paperm bilding, shipping) at $4.50 for each book produced. If the book is sold to distributors for $28 each, how many must be produced and sold for the publisher to break even?
ANSWER THE FOLLOWING
Problem 1
Each month a store owner can spend at most $ N on PC's and laptops. A PC costs the store owner $1000 and a laptop costs him $1500. Each PC is sold for a profit of $ M while laptop is sold for a profit of $700. The sore owner estimates that at least 15 PC's but no more than 80 are sold each month. He also estimates that the number of laptops sold is at most half the PC's. How many PC's and how many laptops should be sold in order to maximize the profit?
Set PC = X1 ; Laptops =X2 ; Z=Profit
(1) If the Profit Equation would be : Z = 400 x1 + 700 x2; What is the profit per unit (M) for PC computers?
a. 400
b. 1000
c. 700
d. none of these
(2) “Least 15 PC's but no more than 80 are sold each month” means?
a. 15 ≤ x1 ≤ 80
b. 15 ≤ x1 ≥ 80
c. 15 ≥ x1 ≥ 80
d. 15 ≥ x1 ; x1 ≤ 80
(3) If the Owner can only spend ($ N) dollars; what would be the Equation if N=100,000?
a. 1000 x1 + 1500 x2 ≤ 100,000
b. 1500 x1 + 1000 x2 ≥ 100,000
c. 1000 x1 +…
An audio company sells microphones for $110 per unit. Its fixed costs are $152,000 per
year, and the variable cost per unit is $30.
(a) The break-even volume is
next whole number of units.)
units per year. (If necessary, round up to the
(b) If the selling price decreases to $105, the new break-even volume will be
units per year. (If necessary, round up to the next whole number of units.)
Chapter 14 Solutions
Mathematics Application for Management, Life, and Soc.... (Instructor's)
Ch. 14.1 - CHECKPOINT
1. Find the domain of the function
Ch. 14.1 - CHECKPOINT
2. (a) If .
(b) If .
Ch. 14.1 - Prob. 1ECh. 14.1 - Prob. 2ECh. 14.1 - Prob. 3ECh. 14.1 - Prob. 4ECh. 14.1 - Prob. 5ECh. 14.1 - Prob. 6ECh. 14.1 - Prob. 7ECh. 14.1 - Prob. 8E
Ch. 14.1 - Prob. 9ECh. 14.1 - Prob. 10ECh. 14.1 - Prob. 11ECh. 14.1 - Prob. 12ECh. 14.1 - Prob. 13ECh. 14.1 - Prob. 14ECh. 14.1 - Prob. 15ECh. 14.1 - Prob. 16ECh. 14.1 - In Problems 15-22, evaluate each function as...Ch. 14.1 - Prob. 18ECh. 14.1 - Prob. 19ECh. 14.1 - Prob. 20ECh. 14.1 - Prob. 21ECh. 14.1 - In Problems 15-22, evaluate each function as...Ch. 14.1 - Prob. 23ECh. 14.1 - Prob. 24ECh. 14.1 - 25. Curve speeds One method traffic planners use...Ch. 14.1 - Prob. 26ECh. 14.1 - Prob. 27ECh. 14.1 - Prob. 28ECh. 14.1 - 29. Mortgage The following tables show that a...Ch. 14.1 - 30. Wind chill Wind and cold temperatures combine...Ch. 14.1 - Prob. 31ECh. 14.1 - Prob. 32ECh. 14.1 - Prob. 33ECh. 14.1 - Prob. 34ECh. 14.1 - Prob. 35ECh. 14.1 - 36. Profit The Kirk Kelly Kandy Company makes two...Ch. 14.1 - Prob. 37ECh. 14.1 - Prob. 38ECh. 14.2 - Prob. 1CPCh. 14.2 - Prob. 2CPCh. 14.2 - Prob. 3CPCh. 14.2 - Prob. 4CPCh. 14.2 - Prob. 5CPCh. 14.2 - Prob. 1ECh. 14.2 - Prob. 2ECh. 14.2 - Prob. 3ECh. 14.2 - Prob. 4ECh. 14.2 - Prob. 5ECh. 14.2 - Prob. 6ECh. 14.2 - Prob. 7ECh. 14.2 - Prob. 8ECh. 14.2 - Prob. 9ECh. 14.2 - Prob. 10ECh. 14.2 - Prob. 11ECh. 14.2 - Prob. 12ECh. 14.2 - Prob. 13ECh. 14.2 - Prob. 14ECh. 14.2 - Prob. 15ECh. 14.2 - Prob. 16ECh. 14.2 - Prob. 17ECh. 14.2 - Prob. 18ECh. 14.2 -
19. Find the slope of the tangent in the...Ch. 14.2 -
20. Find the slope of the tangent in the...Ch. 14.2 - Prob. 21ECh. 14.2 - Prob. 22ECh. 14.2 - Prob. 23ECh. 14.2 - Prob. 24ECh. 14.2 - Prob. 25ECh. 14.2 - Prob. 26ECh. 14.2 - Prob. 27ECh. 14.2 - Prob. 28ECh. 14.2 - Prob. 29ECh. 14.2 - Prob. 30ECh. 14.2 - Prob. 31ECh. 14.2 - 32. If , find the following.
(a) (b) (c) (d)
Ch. 14.2 - 33. If , find the following.
Ch. 14.2 - 34. If , find the following.
Ch. 14.2 - Prob. 35ECh. 14.2 -
Ch. 14.2 -
Ch. 14.2 - Prob. 38ECh. 14.2 - Prob. 39ECh. 14.2 - Prob. 40ECh. 14.2 - 41. .
Ch. 14.2 - .
Ch. 14.2 - Prob. 43ECh. 14.2 -
Ch. 14.2 - 45. Mortgage When a homeowner has a 25-year...Ch. 14.2 - 46. Mass transportation ridership Suppose that in...Ch. 14.2 - 47. Wilson's lot size formula In economics, the...Ch. 14.2 - 48. Cost Suppose that the total cost (in dollars)...Ch. 14.2 - 49. Pesticide Suppose that the number of thousands...Ch. 14.2 - 50. Profit Suppose that the profit (in dollars)...Ch. 14.2 - Prob. 51ECh. 14.2 - Prob. 52ECh. 14.2 - 53. Production Suppose that the output Q (in...Ch. 14.2 - Prob. 54ECh. 14.2 - Prob. 55ECh. 14.2 - Prob. 56ECh. 14.3 - CHECKPOINT
If the joint cost in dollars for two...Ch. 14.3 - Prob. 2CPCh. 14.3 - Prob. 3CPCh. 14.3 - Prob. 1ECh. 14.3 - Prob. 2ECh. 14.3 - 3. The total cost of producing 1 unit of a product...Ch. 14.3 - Prob. 4ECh. 14.3 - Prob. 5ECh. 14.3 - Prob. 6ECh. 14.3 - Prob. 7ECh. 14.3 - Prob. 8ECh. 14.3 - 9. If the joint cost function for two products is
...Ch. 14.3 - 10. Suppose the joint cost function for x units of...Ch. 14.3 - 11. Suppose that the joint cost function for two...Ch. 14.3 - Prob. 12ECh. 14.3 - Prob. 13ECh. 14.3 - Prob. 14ECh. 14.3 - Prob. 15ECh. 14.3 - Prob. 16ECh. 14.3 - Prob. 17ECh. 14.3 - Prob. 18ECh. 14.3 - Prob. 19ECh. 14.3 - Prob. 20ECh. 14.3 - 21. Suppose the Cobb-Douglas production function...Ch. 14.3 - Prob. 22ECh. 14.3 - Prob. 23ECh. 14.3 - Prob. 24ECh. 14.3 - Prob. 25ECh. 14.3 - Prob. 26ECh. 14.3 - Prob. 27ECh. 14.3 - Prob. 28ECh. 14.3 - Prob. 29ECh. 14.3 - Prob. 30ECh. 14.4 - CHECKPOINT
Suppose that
Find
Ch. 14.4 - Prob. 2CPCh. 14.4 - Prob. 3CPCh. 14.4 - Prob. 4CPCh. 14.4 - Prob. 1ECh. 14.4 - Prob. 2ECh. 14.4 - Prob. 3ECh. 14.4 - Prob. 4ECh. 14.4 - Prob. 5ECh. 14.4 - Prob. 6ECh. 14.4 - Prob. 7ECh. 14.4 - Prob. 8ECh. 14.4 - Prob. 9ECh. 14.4 - Prob. 10ECh. 14.4 - Prob. 11ECh. 14.4 - Prob. 12ECh. 14.4 - Prob. 13ECh. 14.4 - Prob. 14ECh. 14.4 - Prob. 15ECh. 14.4 - Prob. 16ECh. 14.4 - Prob. 17ECh. 14.4 - Prob. 18ECh. 14.4 - 19. Profit Suppose that the quarterly profit from...Ch. 14.4 - Prob. 20ECh. 14.4 - 21. Nutrition A new food is designed to add weight...Ch. 14.4 - Prob. 22ECh. 14.4 - 23. Production Suppose that
tons
is the...Ch. 14.4 - 24. Production Suppose that x units of one input...Ch. 14.4 - 25. Profit Suppose that a manufacturer produces...Ch. 14.4 - Prob. 26ECh. 14.4 - Prob. 27ECh. 14.4 - Prob. 28ECh. 14.4 - 29. Profit A company manufactures two products, A...Ch. 14.4 - Prob. 30ECh. 14.4 - Prob. 31ECh. 14.4 - The manager of the Sea Islands Chicken Shack is...Ch. 14.4 - Prob. 33ECh. 14.4 - Prob. 34ECh. 14.4 - Prob. 35ECh. 14.4 - Prob. 36ECh. 14.5 - Prob. 1CPCh. 14.5 - Prob. 2CPCh. 14.5 - Prob. 3CPCh. 14.5 - Prob. 4CPCh. 14.5 - Prob. 1ECh. 14.5 - Prob. 2ECh. 14.5 - Prob. 3ECh. 14.5 - Prob. 4ECh. 14.5 - Prob. 5ECh. 14.5 - Prob. 6ECh. 14.5 - Prob. 7ECh. 14.5 - Prob. 8ECh. 14.5 - Prob. 9ECh. 14.5 - Prob. 10ECh. 14.5 - Prob. 11ECh. 14.5 - Prob. 12ECh. 14.5 - Prob. 13ECh. 14.5 - Prob. 14ECh. 14.5 - Prob. 15ECh. 14.5 - 16. Utility Suppose that the budget constraint in...Ch. 14.5 - 17. Utility Suppose that the utility function for...Ch. 14.5 - 18. Utility Suppose that the utility function for...Ch. 14.5 - Prob. 19ECh. 14.5 - Prob. 20ECh. 14.5 - 21. Cost A firm has two plants, X and Y. Suppose...Ch. 14.5 - Prob. 22ECh. 14.5 - Prob. 23ECh. 14.5 - Prob. 24ECh. 14.5 - 25. Manufacturing Find the dimensions (in...Ch. 14.5 - Prob. 26ECh. 14 - 1. What is the domain of ?
Ch. 14 - Prob. 2RECh. 14 - Prob. 3RECh. 14 - 4. If .
Ch. 14 - Prob. 5RECh. 14 - Prob. 6RECh. 14 - Prob. 7RECh. 14 - Prob. 8RECh. 14 - Prob. 9RECh. 14 - Prob. 10RECh. 14 - Prob. 11RECh. 14 - Prob. 12RECh. 14 - Prob. 13RECh. 14 - Prob. 14RECh. 14 - In Problems 15-18, find the second partials.
Ch. 14 - Prob. 16RECh. 14 - Prob. 17RECh. 14 - Prob. 18RECh. 14 - Prob. 19RECh. 14 - Prob. 20RECh. 14 - Prob. 21RECh. 14 - Prob. 22RECh. 14 - Prob. 23RECh. 14 - Prob. 24RECh. 14 - Prob. 25RECh. 14 - Prob. 26RECh. 14 - Prob. 27RECh. 14 - Prob. 28RECh. 14 - Prob. 29RECh. 14 - Prob. 30RECh. 14 - Prob. 31RECh. 14 - Prob. 32RECh. 14 - Prob. 33RECh. 14 - Prob. 34RECh. 14 - 35. Modeling US. average wage The table gives the...Ch. 14 - Prob. 36RECh. 14 - Prob. 1TCh. 14 - Prob. 2TCh. 14 - Prob. 3TCh. 14 - Prob. 4TCh. 14 - Prob. 5TCh. 14 - Prob. 6TCh. 14 - 7. Suppose the demand functions for two products...Ch. 14 - Prob. 8TCh. 14 - 9. Find x and y that maximize the utility function...Ch. 14 - Prob. 10T
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.Similar questions
- At the Pizza Dude restaurant, a 12-in. pizza costs 5.40 to make, and the manager wants to make at least 4.80 from the sale of each pizza. If the pizza will be sold by the slice and each pizza is cut into 6 pieces, what is the minimum charge per slice?arrow_forwardThe manager of a large apartment complex knows from experience that 100 units will be occupied if the rent is 490 dollars per month. A market survey suggests that, on the average, one additional unit will remain vacant for each 7 dollar increase in rent. Similarly, one additional unit will be occupied for each 7 dollar decrease in rent. (a) If æ is the number of units rented, and p is the rent per unit in dollars, what is the price-demand equation (assuming it is linear)? P (b) What is the monthly revenue function for the manager? (Hint: Revenue is the product of the price per item and the number of items.) R(x) =arrow_forwardThank you very much! This question was super tricky.arrow_forward
- A manufacturer sells a product at $8.45 per unit, selling all produced. The fixed cost is $2300 and the variable cost is $7.20 per unit. At what level of production will there be a profit of $5000? At what level of production will there be a loss of $1450? At what level of production will the break-even point occur? There will be a profit of $5000 when the production level is units. ...arrow_forwardc) The fixed costs of a business for production of a particular item over a period are $1000 while the production cost per unit is $90. If the business is able to produce and sell 200 items over the period, what should the sales price of the item be in order for the business to break even?arrow_forwardJoe runs a carwash stand and finds out quickly that for this business to breakeven he needs to wash 10 cars per day at a price of $5 per car. If the fixed cost of running the car stand is $30 per day, then what is the marginal cost per wash?arrow_forward
- 3. A company with monopolistic control in the market has fixed weekly costs of $5,000 and per unit costs of $(210+0.05x), where x represents the number of units produced. The weekly demand for x units depends upon the price set by the company. At a price of $300 there will be no demand, but demand increases by one unit for each cent less than $300 the price is set at. (a) Write down the equation for the weekly cost function C(x) and weekly demand function p(x) (price as a function x). (b) What price should the company set to maximise its profit?arrow_forwardHow many shoes would be required to sell to earn an operating profit of P1, 000, 000 if the XYZ Company sells this product with the following information: Selling price per unit of product x is 860, variable cost per unit is 600, and the total fixed cost is 8,000,000arrow_forwardA certain company is producing and selling its product X. The variable cost of the product X is 60% of its selling price, and the fixed cost of the company is $50,000 per month. When the company’s target profit for the forthcoming month is $20,000, how much sales volume (in dollars) is required to meet it?arrow_forward
- APPLIED PROBLEMS 9. The manager of an 80-unit apartment complex is trying to decide on the rent to charge. It is known from experience that at a rent of $300 per month all units will be full. On average, though, one additional unit will remain vacant for each $5 increase in rent. Also assume that the monthly cost of operating the apartment complex is $1,000 plus $20 per occupied unit. a. b. Find the rent that will yield the maximum revenue and the amount of that revenue. Determine the rent that will maximize profit.arrow_forwardI. A producer of felt-tip pens has received a forecast of demand of at least 50,000 pens for the coming month from its marketing department. Fixed costs are $20,000 per month, and variable costs are 25 cents per pen. a. Find the break-even quantity the company must produce if pens sell for $1.50 each. b. Find the quantity to be produced to realize a profit of $20,000. 70arrow_forward(c) TLF Ltd wishes to sell 28,000 units of its product, which has a variable cost of £30 to make and sell. Fixed costs are £94,000 and required profit is £26,000.RequiredCalculate the sales price per unitarrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Elementary Geometry For College Students, 7eGeometryISBN:9781337614085Author:Alexander, Daniel C.; Koeberlein, Geralyn M.Publisher:Cengage,
Elementary Geometry For College Students, 7e
Geometry
ISBN:9781337614085
Author:Alexander, Daniel C.; Koeberlein, Geralyn M.
Publisher:Cengage,
The Fundamental Counting Principle; Author: AlRichards314;https://www.youtube.com/watch?v=549eLWIu0Xk;License: Standard YouTube License, CC-BY
The Counting Principle; Author: Mathispower4u;https://www.youtube.com/watch?v=qJ7AYDmHVRE;License: Standard YouTube License, CC-BY