ec8bbe18814005fde4649?start=true.2 Modeling with Linear Functions OPENI am< Previous3 attempts remaining.TAMU_QID: BM_0004cA company has fixed costs of $540 and can produce 20 items for a total cost of $1,380. The company then sells these items to the public for$72 each.Determine each of the following functions. Enter all answers below in slope-intercept form, using exact numbers.a. Find the company's linear cost function.C(z) =b. Find the company's linear profit function.P(z) =%3DSubmit answer456 PM86°F Sunny 00069/13/2021

Profit is the difference between total revenue and total cost. Total cost is the expenditure that is…

Answered: A company has fixed costs of $540 and…

Microeconomic Theory

12th Edition

ISBN:9781337517942

Author:NICHOLSON

Publisher:NICHOLSON

Chapter2: Mathematics For Microeconomics

Section: Chapter Questions

Problem 2.6P

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= 2. The cost of operating a jet-powered commercial (passenger- carrying) airplane varies as the three-halves (3/2) power of its velocity; specifically, Co kny3/2, where n is the trip length in miles, k is a constant of proportionality, and vis velocity in miles per hour. It is known that at 400 miles per hour, the average cost of operation is $300 per mile. The company that owns the aircraft wants to minimize the cost of operation, but that cost must be balanced against the cost of the passengers' time (CC), which has been set at $300,000 per hour. At what velocity should the trip be planned to minimize the total cost, which is the sum of the cost of operating the airplane and the cost of passengers' time?
Cost, revenue, and profit are in dollars and x is the number of units. A firm knows that its marginal cost for a product is МС- 4x+ 25, that its marginal revenue is MR%3D 75 - 6х, and that the cost of production of 60 units is $8,880. (a) Find the optimal level of production. units (b) Find the profit function. P(x) = (c) Find the profit or loss at the optimal level.
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10K L%. 1). Consider the production function Q = (a) What is the output when K = 100000 and L = 243? (b) Use the marginal analysis to estimate Q(99995, 243) and Q(100000, 245). (c) Use a calculator to compute these two values of Q to three decimal places and compare these values with your estimates in (b). (d) How big must AL be in order for the difference between Q(100000, 243+AL) and its linear approximation Q(100000, 245) + -DAL, to differ by more than two units?
Trenny has asked her assistant to prepare estimates of cost of two different sizes of power plants. The assistant reports that the cost of the 130 MW plant is $200,000,000, while the cost of the 240 MW plant is $320,000,000. If Trenny has a budget of only $300,000,000, estimate how large a power plant she could afford using linear interpolation (Enter your answer rounded to one decimal place and in MW eg. XX.X)? Number CL
Hi, I have been trying to compute the optimal values from this lagrangian. But I can't seem to find a way to get the values from the answer key. I attached both the question and answers. Could you please explain to me how to get these values from the first-order conditions? Thank you very much
Your friend Claire has been designing her own hoodies and giving them as gifts to friends and family. She has decided to sell them online soon by using a 3rd party website with a service surcharge based on her pricing. Using the information below, what is the relationship between Claire's selling price per hoodie and profit margin? (Please plot a graph dipcting the relationship) Costs ($) Base Hoodie Cost $30 Craft Supplies to design $10 Selling Website Service Charge 5%
Question 9 Trenny has asked her assistant to prepare estimates of cost of two different sizes of power plants. The assistant reports that the cost of the 150 MW plant is $220,000,000, while the cost of the 270 MW plant is $400,000,000. If Trenny has a budget of only $300,000,000, estimate how large a power plant she could afford using linear interpolation (Enter your answer rounded to one decimal place and in MW eg. XX.X)?
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