The management of an ‘Electronic Goods’ manufacturing company asked you to give an advice about changing its current production plan, given the following information: -    Annual production plan of computers is 4200 computers. -    Total cost of production is OMR 824000. -    Fixed cost is OMR 320000. -    Revenue function: R = 460.2Q – 0.05Q2 1-Use the above information to formulate the price function and the total cost function, and determine the following: 1)    Profit-maximizing quantity. 2)    Profit-maximizing price. 3)    Maximum profit value. 4)     Revenue-maximizing quantity. 2-Should the company change its current annual production plan of computers in order to maximize its profit?

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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The management of an ‘Electronic Goods’ manufacturing company asked you to give an advice about changing its current production plan, given the following information:
-    Annual production plan of computers is 4200 computers.
-    Total cost of production is OMR 824000.
-    Fixed cost is OMR 320000.
-    Revenue function: R = 460.2Q – 0.05Q2


1-Use the above information to formulate the price function and the total cost function, and determine the following:


1)    Profit-maximizing quantity.
2)    Profit-maximizing price.
3)    Maximum profit value.
4)     Revenue-maximizing quantity.


2-Should the company change its current annual production plan of computers in order to maximize its profit? 

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