A large company in the communication and publishing industry has quantified the relationship between the price of one of its products and the demand for this product as Price 160-0.01x Demand for an annual printing of this particular product. The foxed costs per year (e. per printing)= $4T,000 and the variable cost per unit $35. What is the maximum profit that can be achieved? What is the unit price at this point of optimal demand? Demand is not expected to be more than 7,000 units per year. The maximum profit that can be achieved is S (Round to the nearest dolar.) The unit price at the point of optimal demand is S per unit (Round to the nearest cent)

A large company in the communication and publishing industry has quantified the relationship between the price of one of its products and the demand for this product as Price 160-0.01x Demand for an annual printing of this particular product. The foxed costs per year (e. per printing)= $4T,000 and the variable cost per unit $35. What is the maximum profit that can be achieved? What is the unit price at this point of optimal demand? Demand is not expected to be more than 7,000 units per year. The maximum profit that can be achieved is S (Round to the nearest dolar.) The unit price at the point of optimal demand is S per unit (Round to the nearest cent)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: The Demand and profit functions are the same as in the previous question (Question 2a): Demand:…

A: Profit is maximum where marginal profit is zero. The total revenue is the product of price and…

Q: PakPerfect Inc. estimates equation of its total costs of production as TC = 500 + 10Q + 5Q2 and…

A: Given, Total cost (TC) = 500 + 10Q + 5Q2 Market demand Qd = 105 - (1/2)P Here, Q is the Quantity…

Q: Suppose you are the manager for Horizon, a telecommunication company. Market research has shown that…

A: When any consumer has both the willingness and the ability to pay for a commodity at a given price…

Q: You expect to sell 500 cell phones a month. The marginal cost of a cell phone is $50. If your…

A: The problem is asking for the break-even price of a cell phone. The break-even price is the price at…

Q: maximises profits

A: In the context of economics and business, profit maximization refers to the process by which a…

Q: P=1,000-0.0025Q where Q is the number of wine decanters produced monthly. Bavarian Crystal Works…

A: P = 1,000 - 0.0025Q There is a lease payment of $1,000,000 which is a fixed cost as lease and rent…

Q: Blissful Blankets' target profit is \$ \\$ 520,000 \$. Each blanket has a contribution margin of…

A: The concept can be described as the monetary gain that is attained when the revenue earned from…

Q: (d) What would To and 71 have to be set to, for the equilibrium quantitites to be Qo = 60, Q1 = 60?…

A: d. Profit for Type 0 car producers : Total Revenue-Tax- Total Cost

Q: The Acmeville Metropolitan Bus Service currently charges $0.99 for an all-day ticket, and has an…

A: The current price of the all-day ticket is P1=0.99. At this price, the number of riders is…

Q: A firm that sells e-books - books in digital form downloadable from the Internet - sells all…

A: Given: Maximum annual profit of $45,000 when it sells 20,000 copies Profit per copy = 45000/20000 =…

Q: A firm that sells e-books - books in digital form downloadable from the Internet - sells all e-books…

A: * Answer :-

Q: BigSwaba Corp produces virus home test kits which it sells in the market. It pays a marketing…

A: Given demand function P=48+m^0.5-0.5q TC=200+0.5q^2+m

Q: Bavarian Crystal Works designs and produces crystal wine decanters for export to international…

A: Given, Demand function: P=1,000−0.0025QP=1,000-0.0025Q Fixed cost = $1,000,000 Variable cost = $200…

Q: Bavarian Crystal Works designs and produces crystal wine decanters for export to international…

A: The equilibrium price and equilibrium quantity of a good sold in the market are determined by the…

Q: You are the CEO of Widget World Corporation. Researchers have developed a new electronic widget. The…

A: Expense Function is made up of Fixed Cost and Variable Cost Total Revenue = Price * Quantity Fixed…

Q: A donut shp has a fixed cost of $92000 per day and a varibale cost of $2 for each donut produced. If…

A: Fixed cost per day is $92000 Variable cost for each donut is $2 Price for each donut is $5 For…

Q: Diminishing Returns Jesaki Inc estimates that it will sell N(x) units of product after spending $x…

A: When the marginal product( MP) begins to rise or upto the point where marginal product curve has a…

Q: A toy company is trying to determine the optimal price for their weekly supply to meet the demand…

A: The supply function is given as The demand function is given as

Q: show me step by step how to solve this problem: mango Systems believes that demand for its pet e-…

A: Total contribution margin refers to the aggregate amount of revenue remaining after deducting…

Question

A large company in the communication and publishing industry hs quantified the relationship between the price of one of its products and the demand for this product as Price = 160 -0.01 xDemand for an annual printing of this
particular product. The foxed costs per year (ie. per printing) = $4T 000 and the variable cost per unit = $35. What is the maximum profit that can be achieved? What is the unit price at this point of optimal demand? Demand is not
expected to be more than 7,000 units per year.
The maximum profit that can be achieved is S. (Round to the nearest dolar.)
The unit price at the point of optimal demand is S per unit (Round to the nearest cent)

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

An exporter of handbags has just entered a new market. This exporter faces the following relationship between the price of handbags and the demand for them: P=15+ 4.800 D 2.500 D² , D>0 where P is the price per unit and D is the demand per month. The exporter wants to maximize his profit. The fixed cost is $2055 per month and the variable cost #33 per unit. How many handbags should be produced and sold each month, in order to maximize profit? Round your answer to 0 decimal places.
Habib Bank Limited estimates equation of demand of its product as: Q = 55 – 0.5P - (where P = price and Q = Quantity of output), and its total cost of production as TC = 20 + Q + 0.2Q2 Where TC = total cost and Q = Quantity of output) Write the equations of the firm’s costs, as a function of Q: Average Total Cost ATC? Average Variable Cost AVC? Average Fixed Cost AFC.? Marginal Cost MC? The output level that will maximize total profit and the amount of revenue and profit that Habib Bank would receive at optimal level of production.? The output level that minimizes average total cost.? please answer all questions
A company has determined that the price and the monthly demand of one of its products are related by the following equation: Q = 300 - p. The associated fixed costs are $1,500 per month and the variable costs are $100 per unit. What is the maximum profit? What is the range of profitable demand?
HP has developed a new, high-end, high-resolution printer, which can print 40 pages per minute. Its market research identified two target segments of customers: 3,500 large businesses and 6,500 university labs. A large business has a valuation of $900 for the new printer, whereas a university lab has a valuation of $630. HP’s variable cost for the printer is $450/unit; all fixed costs are sunk. Assume that each customer needs at most one new HP printer (i.e., no customer will buy multiple units). (a) Suppose that HP cannot price discriminate the two segments of customers, i.e., it can charge only one price for its printer. What is HP’s optimal price for the new printer? What is its maximum profit? (b) Suppose that HP can install an extra chip in the printer to slow down printing to 15 pages per minute. Such a chip costs HP $20 to make and install for each printer. The slower version of the printer is valued at $700 by a large business customer and $600 by a university lab. With…
you are an accountant for a manufacterer of radios. the demand function for the tablets is p= 40-4x2 where x is the number of tablets produced in millions. it costs the company $15 to make a tablet. write an equation for the manufactures profit as a function of the number of tablets produced. the company currently produces 1 million tablets and makes a profit of $21000000, but you would like to scale up production a bit, what greater number of tablets could the company produce to yield the same profit
Place the black point (plus symbol) on the graph to indicate the profit-maximizing price and quantity for BYOB. If BYOB is making a profit, use the green rectangle (triangle symbols) to shade in the area representing its profit. On the other hand, if BYOB is suffering a loss, use the purple rectangle (diamond symbols) to shade in the area representing its loss. Note: Dashed drop lines will automatically extend to both axes. Select and drag the rectangles from the palette to the graph. To resize, select one of the points on the rectangle and move to the desired position. PRICE (Dollars per can) 4.00 3.50 3.00 2.50 2.00. A 1.50 1.00 0.50 0 MC 05 ·D-D AC MR 1.0 1.5 QUANTITY TH 2.0 25 D 30 3.5 40 Monopoly Outcome Profit Loss ? 30 tv N MacBook Pro Ⓒ
Netflix is increasing its streaming service from $9.99 per month to $10.99 per month. Which is must be true? a) They will lose less than 5% of subscribers b) They will not lose any subs c) They will lose no more than 20% of their subs d) They will lose less than 10% of their subs
AMCO is a firm producing tables in Spain. It has a fixed cost of 100$ and a cost per unit of production of 2$. The demand function for a table is given by: P = 60 - 4Q 1. Find the equations of TR and TC. 2. Write down the equation of the profit. 3. Find Qwhen TR = 0 (x-intercept/roots). 4. Find Qwhen TR is a maximum. 5. Deduce the maximum total revenue (TR max).
Hw.107.
Hercules Films is deciding on the price of the video release of its film Son of Frankenstein. Its marketing people estimate that at a price of p dollars, it can sell a total of q = 280,000 - 20,00 copies. What price will bring in the greatest revenue? = $
Country Motorbikes Incorporated finds that it costs $400 to produce each motorbike, and that fixed costs are $1300 per day. The price function is p(x)= 700-5x, where p the price (in dollars) at which exactly x motorbikes will be sold. Find the quantity Country Motorbikes should produce and the price it should charge to maximize profit. Also find the maximum profit. 40 quantity price profit motorbikes Enter a number.
Fast please with steps