A jeweler is considering producing a limited edition diamond bracelet, and she is trying to decide how many bracelets to produce. The table gives her estimated total cost for various production levels as well as the price she would chargefor each bracelet.Number ofbracelets100200300400500600Total cost(thousands)Price perbracelet$215$7900$420$7400$625$5900$820$5000$1015$4200$1205$3600(a) of the production levels listed in the table, which gives the highest profit?(b) Estimate the marginal cost and marginal revenue when 400 bracelets are made.marginal cost$marginal revenue$

Total cost is the sum of fixed cost and variable cost.Total revenue is the product of price and…

A jeweler is considering producing a limited edition diamond bracelet, and she is trying to decide how many bracelets to produce. The table gives her estimated total cost for various production levels as well as the price she would charge for each bracelet. Number of bracelets 100 200 300 Total cost (thousands) $215 $420 $625 $820 $ Price per bracelet $7900 $7400 $5900 $5000 $4200 $3600 400 500 $1015 600 $1205 (a) of the production levels listed in the table, which gives the highest profit? (b) Estimate the marginal cost and marginal revenue when 400 bracelets are made. marginal cost $ marginal revenue

A jeweler is considering producing a limited edition diamond bracelet, and she is trying to decide how many bracelets to produce. The table gives her estimated total cost for various production levels as well as the price she would charge for each bracelet. Number of bracelets 100 200 300 Total cost (thousands) $215 $420 $625 $820 $ Price per bracelet $7900 $7400 $5900 $5000 $4200 $3600 400 500 $1015 600 $1205 (a) of the production levels listed in the table, which gives the highest profit? (b) Estimate the marginal cost and marginal revenue when 400 bracelets are made. marginal cost $ marginal revenue

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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