不 A small tie shop finds that at a sales level of x ties per day its marginal profit is MP(x) dollars per tie, where MP(x) = 1.25+0.08x-0.0024x2. Also, the shop will lose $90 per day at a sales level of x=0. Find the profit from operating the shop at a sales level of x ties per day. -
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- Given cost and price (demand) functions C(g)= 110q + 44,600 and p(g) = - 2g + 860, what is the marginal revenue at a production level of 55 items? The marginal revenue is $ . (Round answer to nearest dollar.) Pr rithThe company AffordableStuff sells cell phones. The marginal cost for each cell phone is given by the equation C(x) = 0.01x² – 3x + 229. a is the number of cell phones manufactured and sold. The marginal revenue function is R(x) = 429 – 2.x. Both C(x) and R(x) are given in dollars. a) Where do these curves intersect? What do those intersection points mean? b) Find the area between the curves, using end points that make sense. Round to the nearest cent. c) What does the area under the curve mean in this case?You sell items. Your marginal revenue and marginal cost are given by the formulas: MR (q)= 9.344-0.8q and MC (q)= 0.1q2-1.2q+5.9 where q is measured in hundreds of items and marginal revenue and marginal cost are in dollars per item. Compute the change in total cost that occurs if quantity increases from 225 to 226 items.
- 2.1 A manufacturer estimates that its variable cost for manufacturing a given product is given by the following expression: C(q) = 25q² + 2000q [$] where C is the total cost and q is the quantity produced a. Derive an expression for the marginal cost of production b. Derive expressions for the revenue and the profit when the widgets are sold at marginal cost.Should a firm shut down if its weekly revenue is $1,000, its variable cost is $500, and its fixed cost is$800, of which $600 is avoidable if it shuts down? Explain.what is the ordered pair ?
- Match each graph with the function it best represents-a demand function, a revenue function, a cost function, or a profit function. Explain your reasoning. y 35,000 30,000 25,000 b. 20,000 15,000- 10,000 5,000 d. 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 Graph a is the cost VX function. The number of units sold decreases as the price increases Graph b is the revenue function. This function increases linearly V with the number of units produced. Graph c is the demand x and graph d is the revenue A cost X function is less than a cost X function. Need Help? Read It Submit Answer LARAPCALC10 3.4.009.MI.SA. MY NOTES ASK YOUR TEACHER PRASuppose it costs c(x) = x³ – 6x? + 15x dollars to produce x radiators when 8 to 10 radiators are produced, and that r(x) = x – 3x2 + 12x gives the dollar revenue from selling x radiators. Your shop currently produces 10 radiators a day. Find the marginal cost and marginal revenue.If Amit's Curry House took in $35 000 in revenue last week and had out-of-pocket expenses of $31 500, which of the following best describes Amit's profits last week? Amit really did NOT make any profit since he needs to put the difference between revenue and out-of-pocket expenses back into the firm. Amit made an economic profit of $3500. It is NOT clear whether Amit earned any profit last week because it depends on the magnitude of the implicit costs. Amit did NOT earn an economic profit.
- Price and cost (dollars) 70 60 50 40 30 20 10 0 MC₁ 50 Quantity MC₂ 100 Demand 150 The demand for dishwashers facing the AllClean Co. is given in the figure above. The firm manufactures dishwashers in two plants. MC₁ and MC2 are the marginal cost curves for those two plants. How should the firm allocate total output between the two plants in order to maximize profit?Calculate the total revenue if the firm produces 16 versus 15 units. Then, calculate the marginal revenue of the 16th unit produced. The marginal revenue of the 16th unit produced is $ Based on your answers from the previous question, and assuming that the marginal revenue curve is a straight line, use the black line (plus symbol) o plot the firm's marginal revenue curve on the following graph. (Round all values to the nearest increment of 40.) MARGINAL REVENUE (Dollars) 200 160 120 80 2 0 -40 0 4 8 12 16 20 24 28 32 36 40 QUANTITY OF OUTPUT (Units) Marginal Revenue (?) Comparing your total revenue graph to your marginal revenue graph, you can see that when total revenue is increasing, marginal revenue isOn the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 6, 12, 15, 18, 24, and 30 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results. Calculate the total revenue if the firm produces 6 versus 5 units. Then, calculate the marginal revenue of the sixth unit produced. The marginal revenue of the sixth unit produced is________. Calculate the total revenue if the firm produces 12 versus 11 units. Then, calculate the marginal revenue of the 12th unit produced. The marginal revenue of the 12th unit produced is_________.