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Problem Set C 1. Digicel's profit function for the sale of S21 is as follows: л(q)=-2q² + 350q - 150 The selling price per S21 is given by the function: p = 600-2q Where q represents the number of S21 (in thousands), cost and revenue are in thousand of dollars. Using the information provided above, determine the following: a. Total Cost function. b. Marginal Cost (MC) when 4000 S21 are produced. c. Give an interpretation of your answer from Part b. above.

Problem Set C 1. Digicel's profit function for the sale of S21 is as follows: л(q)=-2q² + 350q - 150 The selling price per S21 is given by the function: p = 600-2q Where q represents the number of S21 (in thousands), cost and revenue are in thousand of dollars. Using the information provided above, determine the following: a. Total Cost function. b. Marginal Cost (MC) when 4000 S21 are produced. c. Give an interpretation of your answer from Part b. above.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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Problem Set C 1. Digicel's profit function for the sale of S21 is as follows: π(q) = −2q² + 350q - 150 The selling price per S21 is given by the function: p = 600 - 2q Where q represents the number of S21 (in thousands), cost and revenue are in thousand of dollars. Using the information provided above, determine the following: a. Total Cost function. b. Marginal Cost (MC) when 4000 S21 are produced. c. Give an interpretation of your answer from Part b. above. d. The number of S21 that must be sold for Digicel to make a Marginal Revenue (MR) of $300,000.00. e. At what level of quantity will the firm maximize its profit. 2. Differentiate the following: a. q(p) = 3e³ - 2p - b. y = ln (5p¯² — √p) 4
Transcribed Image Text:Problem Set C 1. Digicel's profit function for the sale of S21 is as follows: π(q) = −2q² + 350q - 150 The selling price per S21 is given by the function: p = 600 - 2q Where q represents the number of S21 (in thousands), cost and revenue are in thousand of dollars. Using the information provided above, determine the following: a. Total Cost function. b. Marginal Cost (MC) when 4000 S21 are produced. c. Give an interpretation of your answer from Part b. above. d. The number of S21 that must be sold for Digicel to make a Marginal Revenue (MR) of $300,000.00. e. At what level of quantity will the firm maximize its profit. 2. Differentiate the following: a. q(p) = 3e³ - 2p - b. y = ln (5p¯² — √p) 4
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