The management of a manufacturing company has the following information: Revenue function: R = 2700Q - 15Q? Profit-maximizing price is 1500 units. 1\ Using the above information, determine the following: i. Profit-maximizing quantity. ii. Revenue-maximizing quantity. 2\ Suggest a cost function which results in a maximum profit value to be between OMR (25000 and 65000), write the maximum profit value.
The management of a manufacturing company has the following information: Revenue function: R = 2700Q - 15Q? Profit-maximizing price is 1500 units. 1\ Using the above information, determine the following: i. Profit-maximizing quantity. ii. Revenue-maximizing quantity. 2\ Suggest a cost function which results in a maximum profit value to be between OMR (25000 and 65000), write the maximum profit value.
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter9: Applications Of Cost Theory
Section: Chapter Questions
Problem 5E
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plz solve both questions within 30-40 mins I'll give you and handwritten solution plz
![Q3.
The management of a manufacturing company has the
following information:
Revenue function: R 2700Q- 15Q?
Profit-maximizing price is 1500 units.
1\ Using the above information, determine the
following:
i. Profit-maximizing quantity.
ii. Revenue-maximizing quantity.
2\ Suggest a cost function which results in a maximum
profit value to be between OMR (25000 and 65000),
write the maximum profit value.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fabd17151-85a6-4b06-9445-baa68ccb770e%2Fc94c107d-3276-417f-b801-163de93e9f2b%2Fyf2brhr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Q3.
The management of a manufacturing company has the
following information:
Revenue function: R 2700Q- 15Q?
Profit-maximizing price is 1500 units.
1\ Using the above information, determine the
following:
i. Profit-maximizing quantity.
ii. Revenue-maximizing quantity.
2\ Suggest a cost function which results in a maximum
profit value to be between OMR (25000 and 65000),
write the maximum profit value.
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