A firm has the production function Q = 2K 1/2L 1/4 and the price of the product P = 4 and its input prices are Pk = 4 and PL = 1. Find out the a) Profit maximising output and b) maximum profit. And also check for Hessian Border condition.
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- If the average cost function of a good isAC = 2Q + 6 + 13Find an expression for MC. If the current output is 15, estimate the effect on TC of a 3-unit decrease in Q.The total cost and the total revenue (in (A) dollars) for the production and sale of x ski jackets are given by C(x)=22x+22,200 and R(x)=200x-0.2x² for 0 sxs 1000. Find the value of x where the graph of R(x) has a horizontal tangent line. Find the profit function P(x). (B) (C) Find the value of x where the graph of P(x) has a horizontal tangent line. (D) Graph C(x), R(x), and P(x) on the same coordinate system for 0 sxs 1000. Find the break-even points. Find the x-intercepts of the graph of P(x). (A) R(x) has a horizontal tangent line at x (B) The profit function P(x- (C) P(x) has a horizontal tangent line at x -0 (D) Choose the correct graph of C(x), R(x), and P(x) graphed together. OA AY 50000- 38700 22200 10000+ 0 0 Rox) PIN Q Ca 500 1000 E What are the break-even points? OA (150,25500) and (740.38480) OB. (225,23970) and (629,34632) OC. (150,26500) and (629,38480) D. (300.28050) and (629,38490) OB. 50000 33200 22200 10000 04 Rx) A Poo 500 1000 du OC. 50000- 33200 22200- 10000 0 0…Please no written by hand and no emage Suppose that a company that makes and sells hand-crafted artwork has a cost function C(x) = 24x + 300, where x is the number of items made, and a revenue function R(x) = 45x, where x is the number of items sold. What is the profit from the 28th item made and sold? There is a $ sign listed next to the answer box, so do not type a $ sign in your answer.
- The total revenue function for a product is given by R=655x dollars, and the total cost function for this same product is given by C=19,250+70x+x2, where C is measured in dollars. For both functions, the input x is the number of units produced and sold. a. Form the profit function for this product from the two given functions. b. What is the profit when 25 units are produced and sold? c. What is the profit when 43 units are produced and sold?AVC=10-0.03Q + 0.00005Q2TFC=60What is the TC function?What is the minimum AVC?A firms production function is π = 4x+8y-3x2-2xy-3y2 and it maximum output capacity 2x+y=15 What would be the estimation of the effect on profit if output capacity is expanded by 1 unit? A) Profit will increase approximately by 16 B) Profit will decrease approximately by 8 C) Profit will increase approximately by 8 D) Profit will decrease approximately by 16
- The total cost and the total revenue (in dollars) for the production and sale of x ski jackets are given by C(x)=26x +18,625 and R(x)-200x-0.2x² for 0≤x≤ 1000. (A) Find the value of x where the graph of R(x) has a horizontal tangent line (B) Find the profit function P(x). (C) Find the value of x where the graph of P(x) has a horizontal tangent line. (D) Graph C(x), R(x), and P(x) on the same coordinate system for 0sxs 1000. Find the break-even points. Find the x-intercepts of the graph of P(x) (A) R(x) has a horizontal tangent line at x =The HAC at Humberview has decided to sell Gatorade to raise money. The demand function is described by px=-4x+340 , where x is the number of bottles, in hundreds, and px is in dollars. The cost function, in dollars, is described by Cx=300x-275. Determine the number of Gatorade bottles they must sell so that they maximize their profit.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.
- 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 MC = 2x + 25, that its marginal revenue is MR = 73 – 6x, and that the cost of production of 80 units is $8,560. (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. There is a -Select--- v of $given belowHere is the production cost function, in $ of producing q units of a product: 2200 C(q) = 300 +0.8q2 + %3D and the demand function of the product is: p(x) = 200 - 0.05q a. Determine the marginal cost, marginal revenue and marginal profit when q=50 and q=150? b. Interpret the results of the calculation in part (a) if it is related to cost, revenue and profit?
