Assume that a competitive firm has the total cost function: TC=1q3-40q2+710q+1700TC=1q3-40q2+710q+1700 Suppose the price of the firm's output (sold in integer units) is $550 per unit. Create tables (but do not use calculus) with columns representing cost, revenue, and profit to find a solution. A. How many units should the firm produce to maximize profit? Please specify your answer as an integer. B. What is the total profit at the optimal output level? Please specify your answer as an integer.

A price-taking firm makes air conditioners. The market price of one of its new air conditioners is $130. The firm's total cost information is given in the table below: Instructions: Calculate marginal cost, and enter your responses as whole numbers. Air conditioners per day Total cost Marginal cost ($ per day) ($ per day) 1 100 100 2 150 3 220 4 310 5 405 6 510 7 650 8 800 How many air conditioners should the firm produce per day if its goal is to maximize its profit? air conditioners per day.

3. Two poultry farms supply companies with chicken feeds. The unit costs of shipping from the farms to the companies are given on the table below. The farm's goal is to minimize the cost of meeting customer's demands. (a) Generate a mathematical model for finding the least cost way of shipping chicken feeds from the farms to the companies. (b) if the demand of company number 2 increased by 3 units. By how much would the costs increase? Show your solution. Ic). Solve the total cost using the solver add-in in excel From Company 1 Company 2 Company 3 Supply Farm A 55 65 80 35 Farm B 10 15 25 50 Demand 10 10 10

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Central Grocery in New Orleans is famous for its muffaletta, a large round sandwich filled with deli meats and topped with a tangy olive salad. Suppose the following table represents cost and revenue data for Central Grocery.     Muffaletta Sold per Day  Price (P)  Total Revenue (TR)  Marginal Revenue (MR)  Total Cost (TC)  Marginal Cost (MC)  Average Total Cost (ATC)  Profit  0  $15        $12              1  14        18              2  13        20              3  12        21              4  11        23              5  10        26              6  9        30              7  8        35              8  7        42              9  6        52              10  5        78                 Fill in the table  What are the profit-maximizing price and quantity, and what…

A company produces very unusual CD's for which the variable cost is $ 11 per CD and the fixed costs are $ 30000. They will sell the CD's for $ 89 each. Let x be the number of CD's produced. a. Write the total cost C as a function of the number of CD's produced. C = $ b. Write the total revenue R as a function of the number of CD's produced. $ R = c. Write the total profit P as a function of the number of CD's produced. $ P = d. Find the number of CD's which must be produced to break even. The number of CD's which must be produced to break even is Round to the nearest number of CDs.

can you  answer part iv and v?

Please use the following table to answer the question. Q AVC TVC TFC TC MC 0 - $0 5 $25 10 $15 $150 $150 $300 What is the average variable cost when quantity is equal to five? $5 $25 $125 O $0 $150 - $150 $175 $5

FITnest is one of the few fitness centers serving the greater area. The gym has been open for 3 years. It charges a flat price of $25 per visit to its clients, and the firm’s current average cost of production is $10 per visit. (You may assume that average cost has the “traditional U-shape”.)  a) The owners of the gym heard you are studying economics, and they want some advice on how they could possibly increase their profits through price discrimination, which is a concept they have heard of but do not know much about. Provide an explanation of what price discrimination is and give them an example of how they could use group pricing in their climbing gym business. Explain how group pricing works to increase their profit.  b) Given the current situation in the market for fitness in the area, would you expect to see competitors enter or exit the market? Explain.   c) Given the current market conditions, what would you predict to observe in the long run with respect to the demand for…

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