Maximizing Profits The weekly demand for the Pulsar 40-in. high-definition television is given by the following demand equation where p denotes the wholesale unit price in dollars and X denotesthe quantity demanded.p=-0.05x+622 (0 ≤ x ≤ 12000)The weekly total cost function associated with manufacturing these sets is given by the following function where C(x) denotes the total cost incurred in producing x sets.C(x)=0.000002x³-0.01x² +400x + 80000Find the level of production that will yield a maximum profit for the manufacturer. Hint: Use the quadratic formula. (Round your answer to the nearest whole number.)units

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Answered: Maximizing Profits The weekly demand…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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If average variable cost is $20 and total fixed cost is $500 at 10 units of output, then average total cost at this output level is:
For the cost and price functions below, find a) the number, q, of units that produces maximum profit; b) the price, p, per unit that produces maximum profit; and c) the maximum profit, P. C(q) = 70+ 14q; p = 70-2q a) The number, q, of units that produces maximum profit is q = b) The price, p, per unit that produces maximum profit is p = $ c) The maximum profit is P = $
Эшestion 1 A computer retailing company specializes in the sale of jump drives to community college tudents. The demand function for jump drives is p=2x+10x+1000 dollars For the samne company the average cost function is given as: ē = 2x +36x-1600- 20 * dollars Where p is the price in dollars and x represents units of output. 1) i1) Find the price and output that will maximize profit. Find the maximum profit
Given the total cost equation: TC = 144 +2Q+Q² what is the average cost when the firm produces at the level of Q that yields the minimum average cost?
Find the average cost function if cost and revenue are given by C(x) = 170 + 3.6x and R(x) = 5x - 0.01x. The average cost function is C(x) =.
A farm produces rice, which is sold in 50 kilogram bags. Let Q denote the number of bagsproduced per week during harvest time. Costs C are denoted in units of dollars. The totalweekly cost function for producing the product is C = 4Q + 100. The total weekly income function for this product is I = 50Q – 2Q2. What is the profit function P as a function of Q and sketch it using P values 0, 5, 10,15, 20 and 25.
A typical firm in industry X has the following total cost function: TC = 400 + 38*q + 0.5*q2, where q represents the units of output. • This firm is producing 35 units of output and the firm's MC(q=35) = $73 and AC(q=35) = $66.9. (a) At this level of output, the firm's AC(q) function is in output (q). (Enter just one word: increasing or decreasing). (b) The firm faces of scale. (Enter just one word: economies or diseconomies.).
Minimize the cost function C=24L +6K of a manufacturing plant has a cobb douglas production function given by f(l,k)= l0.5 k0.5
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The long-run cost function for a firm in the personal computer business is: C(q) = 8q² + 7200, for q> 0. What is the average cost function AC (g)? AC (q) = 16q AC (q) = 8q+ 7200 9 AC (q) = 16q+ AC (g) 16q+7200 AC(q) = 8q+7200 = 7200 9 The long-run cost function for a firm in the personal computer business is: C(q) = 8q² + 7200. for q> 0. What is the marginal cost function MC (q)? MC(q) = 8q+7200 MC(q) = 8q MC (g) MC (q) = 16q MC (q) = 16q+ 16q+72000 7200 The long-run cost function for a firm in the personal computer business is: C(q) = 8q²+7200, for q> 0. At what level of output does average cost equal marginal cost? The level of output at which average cost and marginal cost are equal is type your answer... -01
The unit price of a product is given by P(X) = 200 - 0,01X and the total cost function C(x) = 50X + 20.000 How many items should be sold to maximize profit?

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