13. A company finds that it can sell out a certain product that it produces, at the rate of Tk. 2 per unit. It estimates the cost function of the product to be Tk. for q units produced. 2 50 (i) Find the expression for the total profit, if q units are produced and sold. (ii) Find the number of units produced that will maximize profit. (iii)What is the amount of this maximum profit? (iv)What would be the profit if 6000 units were produced?

13. A company finds that it can sell out a certain product that it produces, at the rate of Tk. 2 per unit. It estimates the cost function of the product to be Tk. for q units produced. 2 50 (i) Find the expression for the total profit, if q units are produced and sold. (ii) Find the number of units produced that will maximize profit. (iii)What is the amount of this maximum profit? (iv)What would be the profit if 6000 units were produced?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the marginal revenue for a product is MR = 1800 and the marginal cost is MC = 90Vx + 4, with a fixed cost of $600. (a) Find the profit or loss from the production and sale of 5 units. There is a -Select-- | of $ (b) How many units will result in a maximum profit? units
A company finds that it can sell out a certain product that it produces, at the rate of Tk. 2 per unit. 1 It estimates the cost function of the product to be Tk. 1000 + 2 50 for q units produced. (i) Find the expression for the total profit, if q units are produced and sold. (ii) Find the number of units produced that will maximize profit. (iii)What is the amount of this maximum profit? (iv) What would be the profit if 6000 units were produced?
Need urgently
I only need help with the last three
Total revenue is $3500 and the output is given as 200 units. Calculate the average revenue for the firm
Pls help with this homework
OUTPUT TOTAL COST 40 49 2 57 3 64 4 70 5 77 6 85 The TVC of producing 4 units of output is : The AFC of producing 6 units of output is: : The marginal cost of producing the fifth unit of output is: : The ATC of producing 5 units of output is:
Problem 4/ A firm produced two types of television x of type A and y of type B per year (in thousands). If the revenue and cost equations for the year are (in million dollars) R(x, y) = 3x+6y C(x, y) = x2 + y2-3x-2y-8 Determine how many of each type of television should be produced per year to maximize profit? What is the maximum profit?
3.) Assume that the following has a linear cost function. Fixed Cost Marginal Cost per item Item Sells For $250 $17 $26 Find the following. (a) the cost function (b) the revenue function (c) the profit function (d) the profit on 97 items