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- (a) At what output is the firm’s profit maximised and How much profit is made at this output? (b) Draw the total profit TΠ curve over the range of output where positive profit is made. (d) How much is total fixed cost, At what output is the price elasticity of demand equal to -1 and At what outputs does the firm break even?Lukanga Water has been providing water services in the Central Province for more than 20 years. Business analysts estimated the demand for water is P 40- 5Q, where Q is the number of clients served (in thousands) and P is the price charged (in millions of Kwacha). Lukanga Water total costs are determined as TC = 10 - 0.75Q. (a) How much is the profit maximizing level of output? (b) How much is Price at profit maximizing level of output? (c) Calculate the Profit level.(a) How much is total fixed cost? (b) At what output is the price elasticity of demand equal to -1? (c) At what outputs does the firm break even?
- Given cost and price (demand) functions C(q) = 100q + 41,000 and p(q) = - 2q + 890, what price maximizes revenue? My Co It would be $ per item. Cours (Round answer to two decimal places.) Anno Calen Cull[Select all that apply] Let the cost of producing a books be 100+ x and a price - demand equation be r + p (a.) P(x) 100 + 2 (b.) P(x) = (800x) (100+ x) (c.) P(x)= x (800) (100 + x) - (d.) P(x) = (800x) (100+z) - (100+ x) Oc b O 10 dB. Use the table below to answer the following questions. b) Determine the minimum profit for Galaxy S3 so that it will attain a positive value in the optimal solution. c) Explain with reasons why reduce cost for galaxy3 is negative. d) If Francophone could raise their budget by GH¢1,500 per week or increase the weekly hours to 150, which should it choose? Advice. With reasons.
- Price ($) 1000 500 300 0 300 500 Supply Demand What is the total cost of producing 300 iPads? 1000 QuantityExplain the relationship between Marginal Cost and last minute price deal for a holiday package with explaination and detailsCalculate average revenue if output sold is 20 units and total revenue is $250
- The following graph shows the daily demand curve for bippitybops in Denver. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per bippitybop) 240 220 200 180 160 140 120 100 80 8 60 40 20 0 mớ H + 0 9 18 27 36 45 54 63 72 81 QUANTITY (Bippitybops per day) * Demand 90 B 99 108 Total Revenue (?)In pricing a product cost works as a floor and customer perception of the value of a product works as a guide to price a product explain this ???3. Suppose that the total revenue function for a commod- ity is R = 64x- 0.02x². (a) Find R(100) and tell what it represents. (b) Find the marginal revenue function. (c) Find the marginal revenue at x = 100 and tell what it predicts about the sale of the next unit and the next 3 units. (d) Find R(101) - R(100) and explain what this value represents.