C(q)=100+10q. What is the profit-maximizing level of output? What profit does the firm earn at this output leve The firm maximizes profit by producing q=? (Enter your response as a whole number.)
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- Suppose the firm achieves total revenue of $1,000 by selling 150 units while facing total costs of $900. If the firm produces and sells 151 units, its total revenue is $1,005, and its total costs are $950. Should the firm produce and sell the extra unit? Group of answer choices yes, since marginal profit is positive yes, since profits are positive no, since marginal profit is negative no, since marginal profit is positive You have recently learned that the company where you work is being sold for $1,000,000. The company's income statement indicates next year's profits of $30,000, which have yet to be paid out as dividends. Assuming the company will remain a "going concern" indefinitely and the interest rate will remain constant at 7%, at what (constant) rate does the owner believe that profits will grow? (Hint: the price the owner was willing to pay is the present value of the firm's future cash flows) Group of answer choices 6% 5% 4% 4.5%[F] The profit function of a business firm is 1 3 T = f(q) = -³ + 6q² – 11q – 50. (i) What output q should the business firm produce to maximize the profit? (ii) What is the maximum profit the business fırm can generate?A particular computing company finds that its weekly profit, in dollars, from the production and sale of x laptop computers is P(x) = -0.006x³ -0.3x² +600x-800. Currently the company builds and sells 7 laptops weekly a) What is the current weekly profit? b) How much profit would be lost if production and sales dropped to 6 laptops weekly? c) What is the marginal profit when x = 7? d) Use the answer from part (a) and (c) to estimate the profit resulting from the production and sale of 8 laptops weekly a) The current weekly profit is $ (Round to the nearest cent as needed) b) The decrease in profit is $ (Round to the nearest cent as needed.) c) The marginal profit when x=7 is $ (Round to the nearest cent as needed) CLOT d) The profit resulting from the production and sale of 8 laptops weekly is approximately $ (Round to the nearest cent as needed)
- 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.Q2)Tony Keonte owns a factory that manufactures Eye-Games. His weekly profit (in thousands of dollars) is given by the following function: P(x) = -4x2 + 80x- 300. Where x is the number of Eye-Games sold. a) What is the largest number of Eye-Games that the company can sell and still make profit? (25 points) b) How many Eye-Games will the firm have to produce and sell in order to maximize profit? (25 points)A profit - maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue of $10, average total cost of $8, and fixed cost of $ 200. Complete the following table by indicating the firm's profit, marginal cost, and average variable cost. Profit Marginal Cost Average Variable Cost (Dollars) (Dollars) (Dollars) The efficient scale of the firm must beless than 100 units.
- ***What would this look like in EXCEL, Graph and Table*** The cost function for Acme Laundry is: TC(q)=10+10q+q^2 so its marginal cost function is: MC(q)=10+2q where q is tons of laundry cleaned. Derive the firm's average cost and average variable cost curves. What q should the firm choose so as to maximize its profit if the market price is p? How much does it produce if the competitive market price is p = 50?The 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?For each price in the following table, calculate the firm's optimal quantity of units to produce, and determine the profit or loss if it produces at that quantity, using the data from the graph to identify its total variable cost. Assume that if the firm is indifferent between producing and shutting down, it will produce. (Hint: You can select the purple points [diamond symbols] on the graph to see precise information on average variable cost.) Price (Dollars per oven) 25.00 70.00 100.00 Quantity (Ovens) Total Revenue (Dollars) Fixed Cost (Dollars) 1,600,000 1,600,000 1,600,000 Variable Cost (Dollars) Profit (Dollars) If the firm shuts down, it must incur its fixed costs (FC) in the short run. In this case, the firm's fixed cost is $1,600,000 per day. In other words, if it shuts down, the firm would suffer losses of $1,600,000 per day until its fixed costs end (such as the expiration of a building lease). This firm's shutdown price-that is, the price below which it is optimal for the…
- A company produces very unusual CD's for which the variable cost is $ 15 per CD and the fixed costs are $ 50000. They will sell the CD's for $ 79 each. Let a be the number of CD's produced. Write the total cost C as a function of the number of CD's produced. C =$ Write the total revenue R as a function of the number of CD's produced. R=$ Write the total profit P as a function of the number of CD's produced. P=$ 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 Question Help: Video Submit QuestionPrice 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?Problems & Applications (Ch 13) In the final column, enter profit for each quantity. (Note: If the firm suffers a loss, enter a negative number in the appropriate cell.) Marginal Cost (Dollars) Total Cost Total Revenue Marginal Revenue Profit Quantity (Dollars) (Dollars) (Dollars) (Dollars) A-Z 7 10 14 13 21 4 17 28 24 35 32 42 7. 42 49 In order to maximize profit, how many units should the firm produce? Check all that apply. O 3 O 4 O 5 O 6 6:45 PM a Desktop 62°F 12/5/2021 arch hp MAAAAA