The profit equation for a coffee shop is P(n) = –5n² + 60n – 100, where n is the number of customers, in tens of thousands (10000)., and P(n) is the profit, in thousands of dollars (1000). a. What is the profit if the shop has no customers? b. How many customers must visit the shop for it to break-even? c. How many customers need to visit for the shop to have its maximum profit and what is the shop's maximum profiť?

The profit equation for a coffee shop is P(n) = –5n² + 60n – 100, where n is the number of customers, in tens of thousands (10000)., and P(n) is the profit, in thousands of dollars (1000). a. What is the profit if the shop has no customers? b. How many customers must visit the shop for it to break-even? c. How many customers need to visit for the shop to have its maximum profit and what is the shop's maximum profiť?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

QUESTION 20 If your total profit is 8000 dirhams and your total revenue is 10000 dirhams. How much is your total cost?
A movie theater shows films for a community of 10000 people. Right now, the price per ticket is $17.50. In the past, when they increased or decreased the price per ticket, they discovered that for every dollar (or fraction) that the price was increased or decreased, the attendance decreased or increased proportionally by 200 people. The theater owner pays the Film Distribution Company $10 (incremental cost) in royalties per person whoviews the film. Find a. The willingness to pay distribution of the movie goers. b. The average price they would be willing to pay. c. The price per ticket that maximizes revenue. d. Should the theater owner increase or decrease the price per ticket if she wants to maximize contribution? e. Find the consumer surplus if the tickets are priced at the price that maximizes contribution. Please complete in excel showing formulas on how it was completed
1. Suppose you are the owner of a burger restaurant that has a cost of production given by C = 400 + 0.02q^2 where q is the number of burgers produced per day. Assume that the market for burgers is perfectly competitive. a. If the market price for a burger is $10, how many burgers should the manager plan to produce in a day? b. What is the profit level? Is this the maximum profit that the restaurant can make per day? c. What output will the firm produce if the price of a burger goes down to $8?
this table is tricky
See image for question with sub-parts.
3. Two poultry farms supply companies with chicken feeds. The unit costs of shipping from the farms to the companies are given on the table below. The farm's goal is to minimize the cost of meeting customer's demands. (a) Generate a mathematical model for finding the least cost way of shipping chicken feeds from the farms to the companies. (b) if the demand of company number 2 increased by 3 units. By how much would the costs increase? Show your solution. Ic). Solve the total cost using the solver add-in in excel From Company 1 Company 2 Company 3 Supply Farm A 55 65 80 35 Farm B 10 15 25 50 Demand 10 10 10
The question is related to economics/finance/accounting.
a donut shop charges customers the same price. the profit maximising output is 100 at a price of 5$ per donut. marginal cost is 2$. The donut shop owner now discovers that it has two very different types of customer children and adults . It can maximise its profits by selling 30 donuts to children for a price of 4$ per donut and 70 donuts per evening to everyone else for a price of 6$ per donut. Draw a diagram showing the profit-maximising price and output a) when all customers are charged the same price and b) when children are charged a different price c)How much profit does the donut shop owner make when children are charged a different price? explain how to draw the diagrams also in detail please!
A person has the choice of running hot snack stall or an ice cream and cool drink shop at a certain holiday resort during the coming summer season. If the weather during the season is cool and rainy he can expect to make a profit of dollar 15,000 and if it is warm he can expect to make a profit of only dollar 3,000 by running a hot snack stall. On the other hand, if his choice is to run an ice cream and cool drink shop, he can expect to make a profit of dollar 18,000 if the weather is warm and only dollar 3,000 if the weather is cool and rainy. The meteorological authorities predict that there is 40% chance of the weather being warm during the coming season. You are to advise him as to the choice between the two types of stalls. Base clearly your argument on the expectation of the result of the two courses of action and show the result in a tabular form?
The inventory cost C of stocking a lot of size x is given by the function C(x)=8.1x+5,000x−1+675. What lot size would minimize costs? Round to the nearest whole number.