The cost, in dollars, to produce x designer dog leashes isC(x)R(x)7x + 10, and the revenue function, in dollars, is- 3x? + 55x-Find the profit function.P(x) = -322 + 48x – 10Find the number of leashes which need to be sold tomaximize the profit.8.Select an answerFind the maximum profit.182Select an answer >Find the price to charge per leash to maximize profit.Select an answer >V Select an answerWhat would be the bemuch for a leash?dogstoo much money for a lealeashesdollars

Profit = TR - TC Where TR = Total Revenue TC = Total Cost Profit = -3x2 + 55x - 7x - 10 Profit =…

The cost, in dollars, to produce x designer dog leashes is C(x) R(x) = 7x + 10, and the revenue function, in dollars, is 3x? + 55x - Find the profit function. P(æ) -3.22 + 48.x – 10 Find the number of leashes which need to be sold to maximize the profit. 8 Select an answer O Find the maximum profit. 182 Select an answer O Find the price to charge per leash to maximize profit. Select an answer V Select an answer What would be the be much for a leash? dogs too much money for a lea leashes dollars

The cost, in dollars, to produce x designer dog leashes is C(x) R(x) = 7x + 10, and the revenue function, in dollars, is 3x? + 55x - Find the profit function. P(æ) -3.22 + 48.x – 10 Find the number of leashes which need to be sold to maximize the profit. 8 Select an answer O Find the maximum profit. 182 Select an answer O Find the price to charge per leash to maximize profit. Select an answer V Select an answer What would be the be much for a leash? dogs too much money for a lea leashes dollars

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: Assume that the cost to produce x school T-shirts is given by C(x) Ex+750 and the T-shirts are sold…

A: Breakeven position is reached where the total revenue is equal to the total cost. Or the profit is…

Q: Pricing for many service firms (hotels, airlines) O can vary from location to location but not daily…

A: The process of determining a value for a commodity or service is known as pricing in economics and…

Q: Consider the following demand function P = 62 - 2Q and the Cost for the business is $150 (for…

A: Since you have posted a question with multiple sub-parts, we will solve first three sub parts for…

Q: The answer in the textbook says when x>5 how do you get that ?

Q: = A clothing company determines that its marginal cost, in dollars per dress, is given by the…

A: Here, the marginal cost function is given as: C'(x)=-(2/25)x+53, when x is less than and equal to…

Q: For a certain company, the cost function for producing a items is C(x) = 40 + 150 and the revenue…

A: Profit is the money you have left after paying for business expenses. In business usage, it is…

Q: uppose a company has fixed costs of $2100 and variable costs per unit 600-dollars per unit. (a) Find…

A: Fixed cost is an expense that does not change when the amount of goods is sold. Variable cost is an…

Q: 2. A demand function for step stools manufactured by U-Step is q = -720p +20,500. What evenue if the…

A: Demand curve shows an inverse relationship between price and quantity demanded.Total revenue is…

Q: Given cost and price (demand) functions C(g) = 110g + 43,000 and p(g) = - 1.8q + 890, what price…

Q: A company manufactures a smartphones which sell for $r and y portable speakers which sell for $s.…

A: A company manufactures x smartphones and y portable speakers.Price of smartphone is $r and price of…

Q: 1. It costs $25,000 to build 30 refrigerators. It costs $30,000 to build 40 refrigerators.…

A: Cost: It is the value of goods and services in terms of money.

Q: A) 60 B) 20 C) 30 D) 25

A: Revenue is income that is generated through the sale of goods or services.Total Revenue = P*Q

Q: Does this mean Firm 2 would abate 2 units?

A: The initial question discussed the optimization of package size and price for gourmet bran muffins…

Q: Should a firm shut down if its revenues is TR = $1,500 per week and: a. its variable cost is TVC =…

A: Shut down: It refers to a position of a firm when variable cost greater than the revenue earned.…

Q: Solve the problem. 28) A kitchen remodeling company determines that the marginal cost, in dollars…

A: Given, C'(x) = 7x-13C(x) = 7x-13dx Cost of installing d x feet.

Q: The cost function for q units of a certain item is C(q) = 106q + 104. The revenue function for the…

A: The marginal cost represents the additional cost incurred by producing one more unit of a product.…

Q: Question 3 A firm's profit function is given by = -4x²-6y²-4xy+ 40x+ 40y +1030,with x and y…

Q: are 1 and the demand function is P= 10 - 20 Obtain an expression for I in terms of Q and, (a) For…

A: *Answer:

Q: 7. Assume that the marginal cost curve is given by mc(q) = 100 + 2q. (a) If the price is $160, what…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Drybar, a hair salon, faces a weekly demand for blowouts eq The salon has weekly total cost of…

A: A firm will maximise profit at a point where marginal revenue is equal to marginal cost and price is…

Question

The cost, in dollars, to produce x designer dog leashes is
C(x)
R(x)
7x + 10, and the revenue function, in dollars, is
- 3x? + 55x
-
Find the profit function.
P(x) = -322 + 48x – 10
Find the number of leashes which need to be sold to
maximize the profit.
8.
Select an answer
Find the maximum profit.
182
Select an answer >
Find the price to charge per leash to maximize profit.
Select an answer >
V Select an answer
What would be the be
much for a leash?
dogs
too much money for a lea
leashes
dollars

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

Step 2

Step 3

Step 4

Trending now

This is a popular solution!

Step by step

Solved in 4 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Math 1
Answer letter A
***If the demand function is: P+ 2Q = 50 The fixed cost is 30, the variable cost per unit is: Q +3 Find the value of Q that break even O a. Q=0.67, Q=15 O b. Q=0.55, Q=13 Oc. Q=0.26, Q=15 O d. Q=0.67, Q=19 e. None of the above
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
5. Rusty Trawler imports oil from Saudi Arabia. His cost function (for purchasing and delivering the oil) is TC = 5000+.1Q² where Q is the number of barrels of oil delivered. He may sell all the oil he can deliver for $60 per barrel (so TR = 60Q). Given these conditions, what are Rusty's maximum possible profits? a) $0 b) $300 c) $2,500 d) $4,000
only typed solution
Country Motorbikes Incorporated finds that it costs $400 to produce each motorbike, and that fixed costs are $1300 per day. The price function is p(x)= 700-5x, where p the price (in dollars) at which exactly x motorbikes will be sold. Find the quantity Country Motorbikes should produce and the price it should charge to maximize profit. Also find the maximum profit. 40 quantity price profit motorbikes Enter a number.
5. A toy factory has an annual demand for 20,000 of tops. It cost $1.50 to store one top per year. It costs $500 for each production set-up for these tops and $3.50 to manufacture a single top. Find the total cost function. fM Total Cost of Production is: T(g) = : + gM +, where q is number of units per productionm run; k is cost of storing 2 one item per year; g is cost of manufacturing a single unit of the product; f is fixed set-up cost for a production run; M is total demand of units per year. Given Constants Total Cost Function Find the optimum number of tops per batch as well as the number of batches per year. optimum number of tops optimum number of batches Find the total cost for this optimum production schedule. Optimum Total Cost
In the market for foam fire retardant there is only one firm. The demand func-tion for the product is Q = 15,000 – 10P where Q is the annual sales quantity in tons and P is the price per ton. The firm’s total cost function (in dollars) is C = 1,400,000 + 300Q + 0.05Q2.a) How much foam fire retardant should this firm produce and sell in order to maximize its profit? What price should it charge?b) Compute the firm’s total profit.c) Suppose now that the firm faces a 20% increase in variable costs. Determine what impact this will have on the firm’s optimal choice.
In the following problem, find the profit maximizing quantity and graph the marginal revenue and marginal cost. Interpret your first-order condition in terms of marginal benefit and marginal cost. max π = (12 - Q)Q-20² 9
Foc
Question 8 Suppose Westland is the only cable TV provider in a city. The table below shows the demand schedule the firm faces and its total costs. What is Westland's optimal number of subscribers? O Price ($/month) Typed numeric answer will be automatically saved. Question 9 56 54 52 50 48 Quantity (subscribers) 20,000 24,000 28,000 32,000 36,000 Total cost ($/month) 1,000,000 1,156,000 1,316,000 1,480,000 1,648,000 ♫