The Grady Tire Company Recaps tires. The weekly fixed cost is $2,500, and the variable cost per tire is $9. Price is related to demand, according to the following linear equation: v = 200- 4.75p Develop the nonlinear profit function for the tire company and determine the optimal price, the optimal volume, and the maximum profit per week.

Q: Suppose that the fixed cost for a product is $200 and the break-even quantity is 50. find the…

A: The marginal profit will be computed as the selling price per unit, minus the variable cost per…

Q: The manufacturer of an energy drink spends $1.28 to make each drink and sells them for $3.27. The…

A: Given information: A manufacturer of energy drinks spends $1.28 to make each drink and sells them…

Q: A company determines that the demand function for a product can be modeled by p=220-0.02x where x is…

A: Profits are the excess of revenue receipts earned by a firm over the costs incurred in the…

Q: Marginal Revenue for an Apartment Complex Lynbrook West, an apartment complex, has 100 two-bedroom…

A: When one extra unit is sold in the market, the seller earns extra revenue and that addition to the…

Q: The marginal profit for a certain company is MP₁(x)= x² + 18x-45. The company expects the daily…

A: Marginal profit is the additional profit that is received by the trader by an additional unit of…

Q: A multiproduct firm’s cost function is   C(Q1 ,Q2 ) = 50 -0.2Q1Q2 + 0.1Q22 Are there economies of…

A: Cost function:Economies of scope occur when the total cost of producing a combination of goods or…

Q: 14.The demand function for a new product is p(x) = - 2x + 7 , where p is the selling price of the…

A: Profit is the difference between total revenue and total cost. Total revenue is the product of price…

Q: The daily demand function for x LED lights sold by a major retailer is p = 715 - 0.75x dollars, and…

A: The demand function for LED light for a retailer: P=715−0.75x.Average cost function: AC=220+2x.To…

Q: The market for smart thermostats has grown increasingly competitive. Producers of smart thermostats…

A: As we know that in the long run equilibrium the form earns only zero profit That means normal profit…

Q: As a production process requires labor L and capital K, q = F (L, K). The wage for a labor is $500,…

A: The optimal level of labor and capital is given by the point where the marginal rate of technical…

Q: In this problem, p is in dollars and x is the number of units. The demand function for a product is…

A: Equilibrium of market is achieved when demand for goods and services are equal to supply for goods…

Q: Cost, revenue, and profit are in dollars and x is the number of units. A firm knows that its…

A: The cost of production in economics means the total expenses incurred by a firm in the process of…

Q: Which of the following is an example of a variable cost for a bookstore? a) Rent for the store…

A: With regards to a bookshop's functional costs, understanding the distinction between fixed costs and…

Q: (a) The revenue from selling q items is R(q) = 50q - q 2 and the total cost is C(q) = 15 + 10q i.…

A: Given: R(q) = 50q - q2C(q) = 15 + 10q   (i) Fixed cost is that component of total cost function that…

Q: d) If James decides to make a total of 51rolls and pies per day and charges different prices as…

A: In order to optimize the production bundle when the firm charges different prices, we shall…

Q: In the short run, A. the price level alone adjusts to balance the supply and demand for money. B.…

A: The aggregate demand and aggregate supply in the economy determine the macroeconomic equilbrium in…

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

A: “Since you have posted multiple questions, we will provide the solution only to the first question…

Q: For a company that manufactures wooden furniture the fixed costs is $900,000 per month. The variable…

A: A variable cost is a corporate expense that changes in proportion to how much a company produces or…

Q: ADTF Distributors produces and sells a line of virtual sketch pad devices with a micro-USB…

A: Fixed cost of production: Fixed costs are that part of the production which is independent of the…

Q: en the admission price for a baseball game was $4 per ticket, 50,000 tickets were sold. When the…

A: The profits of the firms can be calculated by estimating the difference between the total revenue…

Q: A sells one of its products for $48 each. The monthly fixed costs are $3000. The marginal cost of…

A: Total cost is the total expenditure done by the producer in the production process. There are two…

Q: Let the demand function for a product be given by the function D(q) = -1.65q + 270, where q is the…

A: The positive difference between the revenue earned from selling goods, providing services, or…

Q: What will be the accounting profit of the firm if the total revenue is $1020 and the explicit cost…

A: The information being given is :- Total revenue of the firm = $1020 Explicit cost = $350  We have to…

Q: A company produces very unusual CD's for which the variable cost is $ 15 per CD and the fixed costs…

A: Break-Even Point: The cost of production of any product involves the variable cost, which is…

Q: What effect might a decrease in the demand for high definition televisions have on the short-run…

A: In this case, there would be no effect of the demand for high-definition television on the short run…

Q: Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x…

A: Marginal profit is the earnings derived from the addition of one extra unit in the production…