The total revenue curve of a firm is R(q) = 40q − 12q2 and its average cost A(q) =1/30q2 − 12.85q + 20 +400/q, where q is the firms output. Is the rate of change of profit increasing or decreasing when the ouput level of the firm is 10 units? Determine the level of output for which the firms profit is maximized. What is the firm's maximum profit?
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The total revenue curve of a firm is R(q) = 40q − 12q2
and its average cost A(q) =1/30q2 − 12.85q + 20 +400/q, where q is the firms output.
Is the rate of change of profit increasing or decreasing when the ouput level of the firm is 10 units?
Determine the level of output for which the firms profit is maximized.
What is the firm's maximum profit?
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- A company produces very unusual CD's for which the variable cost is $ 15 per CD and the fixed costs are $ 50000. They will sell the CD's for $ 79 each. Let a be the number of CD's produced. Write the total cost C as a function of the number of CD's produced. C =$ Write the total revenue R as a function of the number of CD's produced. R=$ Write the total profit P as a function of the number of CD's produced. P=$ Find the number of CD's which must be produced to break even. The number of CD's which must be produced to break even is Question Help: Video Submit QuestionA firm can produce 100 units per week. If its total cost function is C = 400 + 1000x dollars and its total revenue function is R = 1100x – x? dollars, how many units, x, should it produce to maximize its profit? units Find the maximum profit. $A firm's demand function is Q = 16 – P and its total cost function is defined as TC = 3 + Q +0.25Q2. Use these two functions to form the firm's profit function and then determine the level ofoutput that yields the profit maximum. What is the level of profit at the optimum?
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- A company manufacturing laundry sinks has fixed costs of $100 per day but has total costs of $2,500 per day when producing 15 sinks. The company has a daily demand function of q = 360 − p, where q is the number if laundry sinks demanded and p is te price of a laundry sink. (b) Find a function for the average cost of this company?Find the marginal profit. C(x)=4x^2; R(x)=x^3+5x+15= Suppose that the marginal revenue for firefighting protective clothes is MR marginal cost is MC = 3.5x + 15 with a fixed cost of $295. Assume R(0) = 0. a) How many units will result in a maximum profit? x = b) Find the revenue function. R(x) c) Find the cost function. C(x) 337.5 4x and the d) What is the maximum profit (to the nearest dollar)? The maximum profit is
- he total revenue curve of a firm is R(q)=40q−12q and its average cost A(q)=130q−12.85q+20 +400q,where q is the firms output. i. Derive an expression C(q) for the firms total cost function. ii. Derive an expression Π(q) for the firms profit function. iii. Is the rate of change of profit increasing or decreasing when the ouput level of the firm is 10 units? iv. Determine the level of output for which the firms profit is maximized. v. What is the firmss maximum profit?= 40q – 12q² and its where q is the firm's output. (b) The total revenue curve of a firm is R(q) 400 average cost A(q) q² – 12.85q + 20 + i. Derive an expression C(q) for the firm's total cost function. ii. Derive an expression II(q) for the firm's profit function. iii. Is the rate of change of profit increasing or decreasing when the ouput level of the firm is 10 units? iv. Determine the level of output for which the firm's profit is maximized. v. What is the firms's maximum profit?The demand function and total cost function for a product are 6P = 660 − 3Q, TC = 80 − 20Q2 + 600Q (a) Write down expressions for: (i) average cost, (ii) marginal cost, (iii) total revenue, (iv) marginal revenue, (v) profit. (b) Determine the values of Q for which total cost is a maximum. Calculate the maximum costs. Calculate the profit when total costs are a maximum. (c) Determine the value of Q for which profit is a minimum. What is the minimum profit?