Please correct answer and don't use hand rating 3) You are told profit(x) = x (400 - *) - (200,000 + B*x).(A) Produce a table where the values of x goes from 0 to 60,000 by 3,000, and where there arecolumns for profit(x), and Marginal profit(x + 1), and profit' (x). (You may want othercolumns as well.)(B) Produce a plot with profit(x), and Marginal profit' (x + 1), on a single plot. Use asecondary axis for Marginal profit' (x + 1).(C) Find two breakeven points.(D) Find a value of x s where Marginal profit' (x + 1) = 0.

First, let's clarify the given profit function:profit(x) = x(400 - x) - (200,000 + B*x)We're not…

Answered: 3) You are told profit(x) = x (400 - *)…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A company produces and sells a consumer product and is able to control the demand for the product by varying the selling price. The approximate relationship between price and demand is p= 200-0.05D where p is the price per unit in dollars and D is the demand per month. The company is seeking to maximize its profit. The fixed cost is $15000 per month and the variable cost is $50 per unit. a. What is the number of units that should be produced and sold each month to maximize profit? b. What is the domain of profitable demand during a month? Show your spreadsheet.
8. (a) At a health food manufacturing plant, it costs $20000 to produce 1500 cases of tofu, and $26000 to produce 2000 cases of tofu. Find this manufacturer's linear cost function based on this information. (Let r be the number of cases of tofu.) (b) Each case of tofu is then sold for $18. Find this manufacturer's revenue function. (c) Find this manufacturer's profit function and simplify it. (d) What is the break-even point for this business?
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(a) How would one estimate the full cost to an airline if one of its planes is held over for 24 hours in an airport for repair? (b) A company has spent $10 million to develop a product for market. During the product’s first two years, the company’s profit was $6 million. In recent years, the market was flooded by rival products and now the company is reassessing its product. If it abandons the product, it can recover $2 million of its original investment by selling its production facility. If it continues to produce the product, its estimated revenues for successive two-year periods will be $5 million and $3 million and its costs will be $4 million and $2.5 million. (After four years the plant will have zero resale value.) What would be the company’s best course of action? (c) Two decades ago, the global demand and supply curves for copper were: Qd = 15-10P and Qs = -3 + 14P, where Q is measured in millions of metric tons per year. Find the competitive price and quantity. Suppose that…
I need some help and can you show me all the steps, please The profit of a firm is described by the following function: f(Q) = -8Q^3 + 30Q^2 – 120Q – 100 where Q is the quantity produced. (A) Find the stationary points for this function. (B) Using the first derivative test, find for what value of Q the profit maximised. (C) Find the feasible values of Q where the graph of the profit function is concave up.
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
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(a) Derive the first order condition showing how much labor and capital a producer should use to minimize the total costs of producing a given level of output. (b) What is the second order condition for the producer to achieve (a). (c) Draw a figure showing your answer to part (a) and another figure showing the opposite (i.e., a producer maximizing output with given total costs). How does either situation compare with a producer who has neither a total output constraint or a total cost constraint?
Jenna knits scarves and then sells them on Etsy, an online marketplace. Let C(x) =4x+20 represent the cost C in dollars to produce 1 to 6 scarves. A.) Create a table to show the relationship between the number of scarves x and the cost C. B.) What are the domain and range of C? C.) What is the meaning of C(3)? D.) What is the meaning of the solution to the equation C(x) =40?
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