Marginal Profit Yaster Breakfast Supplies is planning to manufacture and market a new toaster. After conducting extensive market surveys, the research department provides the following estimates: • a weekly demand of 301 at a price of $13 per toaster • a weekly demand of 192 at a price of $16 per toaster The financial department estimates that weekly fixed costs will be $1,393 and variable costs (cost per unit) will be $4. Assume: • the relationship between price and demand is linear • the cost function in linear Use your models to predict the marginal profit when Yaster is producing and selling 270 toasters per week. Round to the nearest cent. $_ per toaster

Marginal Profit Yaster Breakfast Supplies is planning to manufacture and market a new toaster. After conducting extensive market surveys, the research department provides the following estimates: • a weekly demand of 301 at a price of $13 per toaster • a weekly demand of 192 at a price of $16 per toaster The financial department estimates that weekly fixed costs will be $1,393 and variable costs (cost per unit) will be $4. Assume: • the relationship between price and demand is linear • the cost function in linear Use your models to predict the marginal profit when Yaster is producing and selling 270 toasters per week. Round to the nearest cent. $_ per toaster

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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AutoSave W- q5 micro OFF Home Insert Draw Design Layout References Mailings Review View Share O Comments Calibri (Bod... v 11 A^ A Аa v AaBbCcDdE AaBbCcDdEe AaBb( AaBbCcDc AaBbCcDdE€ AqBbCcDdEe > Paste A A No Spacing Subtle Emph... Styles Pane Sensitivity v ab X, Subtitle U Normal Heading 1 Heading 2 Title * Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. Check for Updates Consider a monopolist that produces coal for energy, with demand curve defined by P = 190 – 20 and marginal cost given by MC = 10 + 2Q. Also, the firm's average total cost is ATC = 100/Q + Q+ 10. (Price and costs are in dollars per tonne of coal, while quantity is in thousands of tonnes.) Calculate the monopolisť's profit-maximizing quantity, price, and profit. For a monopoly, profit maximization occurs where the marginal revenue equals the marginal cost. a. b. What would be the competitive output and price if this monopolist operated as a competitive firm?…