A manufacturer of two products (Widgets and Gadgets) makes a profit of $110 for each widget sold and $120 for each gadget sold. However, production of these products generates hazardous waste charges at the rate of 3w2 (where Wis the number of Widgets produced) and 264 (where G is the number of Gadgets produced). The manufacturer has ample supplies of all raw materials and can sell all the Widgets and Gadgets it produces. The firm has sufficient capacity to produce any realistic quantity of both products. What is the optimal quantity of each product to produce? (Round your answers to 1 decimal place.) 18.3 Answer is complete and correct. 2.4 Gadgets Widgets and What is the maximum profit the manufacturer can earn? (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Maximum profit 1,216.46

A manufacturer of two products (Widgets and Gadgets) makes a profit of $110 for each widget sold and $120 for each gadget sold. However, production of these products generates hazardous waste charges at the rate of 3w2 (where Wis the number of Widgets produced) and 264 (where G is the number of Gadgets produced). The manufacturer has ample supplies of all raw materials and can sell all the Widgets and Gadgets it produces. The firm has sufficient capacity to produce any realistic quantity of both products. What is the optimal quantity of each product to produce? (Round your answers to 1 decimal place.) 18.3 Answer is complete and correct. 2.4 Gadgets Widgets and What is the maximum profit the manufacturer can earn? (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Maximum profit 1,216.46

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: please only answer part e.

A: Before business expansion: Demand: D = 4000 − 2P Supply: S = 2P + 400 There is a business cycle…

Q: any investors and financial analysts believe the Dow Jones Industrial Average (DJIA) gives a good…

A: "Since you have posted a question with multiple subparts, we will solve first 3 sub-parts for you.…

Q: PLS HELP ASAP ON BOTH

A: 1.When a groove weld undergoes grinding, it can alter its thickness. To accurately measure this…

Q: If the t-statistic for a variable is -1.74, is the variable statistically significant? No O Yes

A: In statistics, the t-statistic refers to the ratio of the departure of the estimated value of a…

Q: The mean has not shifted

A: Explanation: Because the method will shift in either direction, the direction of shift and its…

Q: Comfy Limited manufactures glass ornaments and housewares. The business makes use of unskilled…

A: Corporate economics is focused on the investigation and analysis of corporate finances through the…

Q: Following the increase in price of a 250g bag of coffee from £2.35 to £2.65 in a local supermarket,…

A: The response of a good or service's supply to a change in its market price is measured by its price…

Q: Randomly choose one country from each of the following regions: Africa, the Caribbean, Latin America…

A: Here are four randomly chosen countries from each of the specified regions along with their…

Q: PLS HELP ASAP ON BOTH

A: Step 1:1.Option a) Phase-array: This is an advanced ultrasonic testing technique that uses multiple…

Q: Was there a mistake when the tutor wrote P = 79 - 2Q? It is supposed to be P = 79 - 0.5Q

A: The original demand equation was: Q(P) = 39.5 – 0.5P i.e. Q = 39.5 - 0.5P if we multiple both side…

Q: A study by University of Minnesota economist, Joel Waldfogel, estimated the difference in the actual…

A: Solution - Given in the question - According to study that average recipient's valuation was…

Q: The value of goods and services must be counted only once. To avoid double counting, only the value…

A: Gross domestic product(GDP) measures the money value of all final goods and services produced in an…

Q: redo queestion 1 and question 3

A: (a) The game in normal form can be represented as follows:player 1player…

Q: Problem A large company in the communication and publishing industry has quantified the relationship…

A: Given,

Q: 7.2 (LG 7.2) Maryhill Mines has a pelletizer that it is considering for replacement. Every three…

A: Introduction:- The pelletizer gadget, which changes over the item into pellets of different shapes…

Q: The Fearless Champions Outdoor Company is a catalogue sales operation that specializes in outdoor…

A: The least square method involves minimising the sum of the squares of the offsets (residual…

Q: The country of Altimina has a population of 150,000. According to the latest data, there are 20,000…

A: Given Population = 150000 People under 16 = 20000 People above age 16 (not looking for work) = 30000…

Q: (Ch7) True or False? We should use a normal distribution to model the number of years until the next…

A: The objective of the question is to determine whether a normal distribution is the appropriate…

Q: PLS HELP ASAP ON BOTH

A: Approach to solving the question:In the context of welding, a non-consumable backing bar is a…

Q: Ca = 40 + 0.80 (Y-T) Ig = 30 Xn= 10 T=20 G=20 DI-Y-T

A: Calculation of aggregate expenditure is in the picture-

Q: Focusing on government spending as a percentage of GDP in the U.S., we observed that between 1820…

A: This can be described as a concept that shows the total amount of production of commodities and…

Q: sleep 3840.83-0.163 TotWork - 11.71 Edu - 8.70Age + 0.128Age² + 87.75Male (235.11) (5.86) (11.21)…

A: Male is a dummy variable taking the value of 1 when we consider the case of male and 0 otherwise.…

Q: ependent Variable ROG ethod Least Squares ate: 05/3020 Time: 16:55 ample (adjusted) 2010M02 201012…

A: In the given regression results , it gives 4 key values corresponding to each explanatory variables:…

Q: Complete the following worksheet and then use it to calculate the coefficient of determination.…

A: Price elasticity of demand is a calculation of the responsiveness of the quantity demanded of a good…

Q: In automobile mileage and gasoline-consumption testing, 13 automobiles were road tested for 300…

A: The objective of the question is to calculate the mean, median, and mode for City and Highway…

Q: 66) Refer to Figure b. Kate and Alice are sisters with a very strict mother. The girls are not…

A: The scenario presented in the question is a classic example of a strategic interaction known as the…

Question

Kk.263.

A manufacturer of two products (Widgets and Gadgets) makes a profit of $110 for each widget sold and $120 for each gadget sold.
However, production of these products generates hazardous waste charges at the rate of 3w² (where Wis the number of Widgets
produced) and 264 (where G is the number of Gadgets produced). The manufacturer has ample supplies of all raw materials and can
sell all the Widgets and Gadgets it produces. The firm has sufficient capacity to produce any realistic quantity of both products.
What is the optimal quantity of each product to produce? (Round your answers to 1 decimal place.)
18.3
Widgets
and
Answer is complete and correct.
2.4
Gadgets
What is the maximum profit the manufacturer can earn? (Round your answer to 2 decimal places.)
Answer is complete but not entirely correct.
1,216.46
Maximum profit

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: Defining Optimal Units

VIEW

Step 2: Calculation of Optimal Quantities

VIEW

Step 3: Calculating Maximum Profit

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 4 steps with 2 images

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

Question 22 A computer depreciates 32% per year. A computer is bought for $1200. What is an equation to model this where V is the value of the computer and t is the years that passs since it is bought. Ov= 1200(-0.32)t OV= 1200(0.32) OV = 1200(1.32) OV = 1200(0.68) Question 23 A computer depreciates 32% per year. A computer is bought for $1200. What is an equation for the year since the comupter is bought as a function of the computer's worth? Ot=10g0.68 (1200)
Given cE = p(aE - bE2), Solve for E.
2. (40 points) In their 1999 Applied Economics Letters paper, Zakir and Wunnava proposed the following specification in identifying the factors affecting infant mortality rates (IMR): IMR₁ = B₁+ B₁FERTILITY, + ß₂LNGNP; +ß¸LABOUR; + ßLABOUR² + B₂LITERACY, + BHEALTH; +ε₁ Where i=1,2,..., 117 (i.e., based on a cross-section of 117 countries) IMR = infant mortality rate-number of deaths before age 1 per 1000 live births FERTILITY = number of births per woman LNGNP = the natural logarithm of per capita GNP (note that GNP is measured in '000 of $s) LABOUR = percentage of women in the labor force LITERACY = female literacy rate HEALTH = expenditure on health care as percentage of GNP Following are their estimated regression results along with sample means (based on a cross-section of industrialized and third world countries for 1993). Mean of IMR: 44.983 Variable name Estimated t-ratio Mean coefficient FERTILITY 10.812 7.848 3.5556 LNGNP -6.998 -3.134 8.2585 LABOUR 4.135 3.359 40.051 LABOUR²…
Does the following dataset satisfy GARP?
33. Consider an expected utility maximizer whose utility function is U(w), where w denotes wealth, expressed in dollars. Suppose that U(0) = 0 and U(1,000, 000) = 1. Further suppose that the individual is indifferent between having w = 200, 000 for sure or a gamble in which w = 0 with probability .4 and w = 1,000, 000 with probability .6. For this individual, U(200, 000) is %3D
In June, an investor purchased 250 shares of Oracle (an information technology company) stock at $23 per share. In August, she purchased an additional 360 shares at $23 per share. In November, she purchased an additional 510 shares, but the stock increased to $29 per share. What is the weighted mean price per share? (Round your answer to 2 decimal places.)
How do we use these FOCs to show that (wtNt)/Yt =(1-α) if Yt = At Ktα Nt1-α
Can you please answer (Question.4) below?
Find the coefficient of x2y3z3 in the expansion of(x + y + z)8.
PLS HELP ASAP ON BOTH
The sum of squared residuals for the first group (SSR1) is 15.3 and for the second group (SSR2) is 25.7. Each group contains 12 observations after removing the central observations and this model has only one independent variable. Calculate the F-statistic (rounded to two dp) (a) 2.57 (b) 2.41 (c) 1.92 (d) 1.68 (e) 1.67
Y = AK1/3L2/3; Y = 30, K = 10, L = 20. The TPF is A. 1.89 B. 0.89 C. 1.27 D. 1.05