A company produces and sells hair dryers in a market where price (p) and demand (D) are related as follows: p = $35 + (3,000)/D – (4,800)/D² %3D The fixed cost (C;) is $800 per month and the variable cost per hair dryer (c,) is $38. a) How many hair dryers should be produced each month to maximize profits? b) How much is the maximum profit each month?

Q: The demand function of the company that make hard disk is given by P = D(Q) = 78 – 4Q where P is the…

A: P=78-4Q ‐------- demand equation P = 13 +Q --------- supply equation --------- At equilibrium,…

Q: 4. 16 where q is the firm's output. (i) Determine the level of output for average costs are minimum.

A: "Since you have asked multiple parts, we will answer only the first part for you. If you have any…

Q: a) type the profit function of the manufacturer,?(?, ?). B) determine the end points of the profit…

A: Total Revenue -:                              It refers to the total receipts of a firm from the…

Q: Your last submission is used for your score. 1. Need Help? Read It عيمي Burnem Inc. manufactures…

A: 1.) Substitute y= $408, 200 to the equation.                                   y = 653,000 - 1800x…

Q: Marginal Revenue for an Apartment Complex Lynbrook West, an apartment complex, has 100 two-bedroom…

A: When one extra unit is sold in the market, the seller earns extra revenue and that addition to the…

Q: 5) If Hilltop Turf Farm's total cost of producing acres of sod is TC = 0.202 +120Q + 5,000, the…

A: Marginal cost (or MC in short) reveals the extra cost incurred by the business unit when it…

Q: A firm's production function is given by Q=40K0.8L0.2 Each unit of capital costs $40 and each unit…

A: At optimal level:-                    MPLMPK=wr Where; MPL=dQdLMPK=dQdK

Q: A company produces and sells hair dryers in a market where price (p) and demand (D) are related…

A: At breakeven point, a firm produces enough quantity of output from which it can recover its total…

Q: 5) If Hilltoo Turf Farm's total cost of producing acres of sod is TC = 0.202-1200 - 5,000, the…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: 24- A firm producing lamps has fixed costs of €1000 per week. 1) If a kamp costs E15 to produce. (a)…

A: Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

Q: What is the elasticity of substitution of f(K, L) = KL²? (a) 1/3 (b) 1/2 (c) 2/3 (d) 1 (e) 3/2 (f) 2

A: Since there are multiple questions, we will solve the first question for you. If you want any…

Q: 8. (a) At a health food manufacturing plant, it costs $20000 to produce 1500 cases of tofu, and…

A: (a) The linear cost function could be written as : Y = Ax + B Y = Total cost Ax = Variable cost,…

Q: 2) The owner of a restaurant that you are thinking of purchasing, tells you for x customers per week…

A: Cost : C(x)=15000+2x Revenue : R(x)=500x-3x2   a) Profit P(x) = Revenue R(x)-Cost C(x)…

Q: (b) The total revenue curve of a firm is R(q) = 40q – 12q² and its q- 12.85q + 20 + 30 400 where q…

A: i). Firm’s total cost function:

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Q: If the firm is maximizing its profits when the price is $12, its total cost is: a) $1200 b) $700…

A: A competitive firm maximizes profit by producing at P=MC

Q: (a) The revenue from selling q items is R(q) = 50q - q 2 and the total cost is C(q) = 15 + 10q i.…

A: Given: R(q) = 50q - q2C(q) = 15 + 10q   (i) Fixed cost is that component of total cost function that…

Q: given p(q)=176-9Q and c(p)=5Q+19 find the profit max quantity

A: Answer to the question is as follows:

Q: Suppose that the monthly cost, in dollars, of producing x chairs is C(x)=0.005x³ +0.07x² + 19x +…

A: Marginal cost is the additional cost required in order to produce an additional unit of output.

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A: Given information: p(x) = 300 - (1/30)x ------------> demand equation C(x) = 15000 + 30x…

Q: A company manufactures and sells x cellphones per week. The weekly price-demand and cost equations…

A: Demand signifies the amount of a particular commodity or service that individuals are inclined to…

Q: A company estimates that the relationship between unit price and demand per month for a new product…

A: Given, p=$100-$0.10DFixed cost = $15,972 per monthvariable cost = $ 45 per unit

Q: The Cost and revenue funchon of a firm is given as /C=18+7Q+iOQ²+5Q3 and P = 1500Qt 3Q" ⑦Identify…

A: The cost function will include the fixed cost and variable costs. It will be shown as TC = FC + VC…

Q: A firm produces output according to the following production function: Q = F (K, L) = min{4K, 4L}…

A: The production function is a mathematical function looking to maximize the output level. The…

Q: A company has established that the relationship between the sales price for one of its products and…

A: The firm's objective is to maximize the profit level and to achieve this objective MC = MR

Q: For a company that manufactures wooden furniture the fixed costs is $900,000 per month. The variable…

A: A variable cost is a corporate expense that changes in proportion to how much a company produces or…

Q: medium of exchange unless it also serves as a store of value. Is this statement t

A: The money is used as the medium of exchange and store of value. Money is used as unit of account as…

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A: Total cost is the total expenditure done by the producer in the production process. There are two…

Q: The total cost equation for a firm producing two products is TC(Q1, Q2) = 25 + Q12 + 4Q22 + 5Q1Q2…

A: Disclaimer- “Since you have asked multiple question, we will solve the first three question for you…

Cost of Production

In economic theory, production costs are the costs incurred by an industrial organization when it engineers a project or provides a service that generates revenue and benefits. Labor costs, raw materials, consumable manufacturing costs, and general overhead sum up, accounting for production costs. Total cost data is calculated by combining total direct costs of materials, labor costs, and total production costs.