If the hourly wage for workers is $60 and the firm's price per product is $12, how many workers will be hired if the productivity (products made per hour) is as follows: 1 worker = 10 products, 2 workers = 17 products, 3 workers = 23 products, 4 workers = 28 products?
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- A toy manufacturer's cost for producing q units of a game is given by Ca) =1450 +3.69 + 0.0006g. If the demand for the game is given by p = 8.6 - 4409 how many games should be produced to maximize profit? (Round your answer to the nearest integer.). 888 X gamesNorthside Social (NS) sells cups of coffee and amazing breakfast sandwiches. The current price of a cup of coffee is $3.00 and the current price of an amazing breakfast sandwich is $8.00. At those prices, NS sells 1000 cups of coffee and 200 breakfast sandwiches daily. NS faces a constant marginal cost for each cup of coffee of 50 cents and the constant marginal cost of breakfast sandwiches is $2. NS increases the price of coffee 5%, to $3.15. After the price increase, NS sells 900 cups of coffee, a decrease of 10% in cups of coffee. Assuming the above, what if NS also changes the price of breakfast sandwiches from $8 to $10 (a 25% increase in price) and that the number of breakfast sandwiches sold decreases from 200 to 180 (a 10% decrease in quantity). Which of the following is true? A) Coffee profits and breakfast sandwich profits increase.B) Coffee profits decrease by more than breakfast sandwich profits decrease.C) Coffee profits decrease by more than breakfast sandwich profits…Find the marginal cost for TC = 10x3+4x2+1
- Distinguish between technical efficiency and economic efficiencyRound off your final answer to whole #. A company produces and sells a consumer product and is able to control the demand by varying the selling price. The approximate relationship between price and demand is 2700 5,000 p=47 + -forD>1 D D² The company is seeking to maximize its profit. The fixed cost is $1,000 and the variable cost is $39 per unit. What is the number of units that should be produced and sold each month to maximize profit?A friend of mine is an artist. She mostly paints landscape pictures. They take a bit of time, but are generally worth it. She can paint as many as 100 per year. The total cost is , C(X) = 10 + 0.5x + 0.01x^2 where x is the number of paintings. I am told that the demand for her paintings is given by Q(P) = 100 – .01P, where P is the price in dollars for painting. Question: How many paintings would minimize the unit cost of production and what would the cost be?
- A travel agency will plan a group tour for groups of size 35 or larger. If the group contains exactly 35 people, the cost is $280 per person. If each person's cost is reduced by $10 for each additional person above the 35, then the revenue is given by the equation shown below, where x is the number of additional people above 35. R(x) = (35 + x)(280 − 10x) Find the marginal revenue if the group contains 40 people.What is the marginal cost forumla for TC= 10+5Q?A company manufactures Products A, B, and C. Each product is processed in three departments: I, II, and III. The total available labor-hours per week for Departments I, II, and III are 1020, 1080, and 900, respectively. The time requirements (in hours per unit) and the profit per unit for each product are as follows. Product A Product B Product C Dept. I 2 1 2 Dept. II 3 1 2 Dept. II 2 2 1 Profit $18 $12 $15 If management decides that the number of units of Product B manufactured must equal or exceed the number of units of products A and C manufactured, how many units of each product should the company produce to maximize its profit?
- Q2)Tony Keonte owns a factory that manufactures Eye-Games. His weekly profit (in thousands of dollars) is given by the following function: P(x) = -4x2 + 80x- 300. Where x is the number of Eye-Games sold. a) What is the largest number of Eye-Games that the company can sell and still make profit? (25 points) b) How many Eye-Games will the firm have to produce and sell in order to maximize profit? (25 points)This table shows the number of cappuccinos that can be made per hour given each number of baristas working at the cafe. For example one barista can make 10 cappuccinos per hour. Q (Workers per day) (Cappuccinos per hour) 10 2 15 19 4 22 24 25 Suppose that the wage rate for baristas is £9 per hour and the average price of cappuccino is £3. (a) The profit-maximizing number of barristas is F (b) If the market wage increased £12 per hour, the profit-maximizing number of barristas would be all else remaing equa? (c) If the market wage remained at £9 per hour but the price of cappuccino increased to £4.50, the profit-maximizing number of barristas would be 数字 all else remaing equal. (d) If the market wage remained at £9 per hour and the price of cappuccino at £3 but baristas all became 10% more productive because of an improvement in the way cappuccinos are made, then the new profit-maximizing number of barristas would be 数字 , all else remaing equal2.1 A manufacturer estimates that its variable cost for manufacturing a given product is given by the following expression: C(q) = 25q² + 2000q [$] 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.