The unit price of a product is given by P(X) = 200 - 0,01X and the total cost function C(x) = 50X + 20.000 How many items should be sold to maximize profit?
Q: Find the total-cost function c(q) given the marginal-cost function dc/dq below, if the fixed costs…
A: Given data: Marginal cost function, dcdq=1q+8 Fixed cost, FC=$4000
Q: Suppose that the cost function for a commodity is (x) = 90 + x? dollars. (a) Find the marginal cost…
A: Answer to the question is as follows :
Q: A _ total cost function implies that marginal costs _as output is increased. 1 linear,increase…
A: The marginal cost occurs for the firm to make one more additional unit of production by using a…
Q: Cost, revenue, and profit are in dollars and x is the number of units. If the daily marginal cost…
A: The TC (total cost) demonstrates the sum of FC (fixed cost) and the VC (variable cost). And the MC…
Q: C(Q) = 100 + 20Q + 15Q2 + 10Q3 Based on the cost function, determine: The fixed cost of producing…
A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…
Q: The total cost of producing one unit is $100 The total cost of producing two units is $150 At a…
A: It is given that, the total cost of production of 1st unit = $100. The total cost of production when…
Q: Average total cost is equal to:
A: Total cost is the sum of total variable cost and total fixed cost i.e., TC = TVC + TFC Total cost…
Q: The average fixed cost curve will never intersect with either the horizontal or vertical axis.
A: The total cost of production refers to the market value of all the inputs used by the firm in the…
Q: Cost is in dollars and x is the number of units. Find the marginal cost function. MC for the given…
A: Given data: Cx=700+5x+0.04x2
Q: The daily cost to manufacture generic trinkets for gullible tourists is given by the cost function…
A: The functional connection between cost and output is referred to as the cost function. It…
Q: The total cost function of a firm is:- 23Q² - 13Q + 40 Find the average cost function
A: The total cost (TC) is divided by the entire output to get the average cost of production (Q). All…
Q: A manufacturer believes the function C(x) = 0.25x² 20x + 950 - where 0≤x≤ 100 approximates the…
A: Marginal cost refers to additional cost that is incurred from producing one more unit of output. It…
Q: Consider the total cost function, TC = 25 + 6Q - 5Q^2 + 6Q^3 Find the marginal cost (MC) at Q= 6.
A: The total cost function is, TC = 25 + 6Q - 5Q2 + 6Q3 Marginal Cost (MC) is defined as the change in…
Q: Cost, revenue, and profit are in dollars and x is the number of units. If the daily marginal cost…
A: Answer to the question is as follows:
Q: Suppose a laptop manufacturer has the given total cost function and the given total revenue…
A: Here, total cost function and total revenue function are given as: C(x) = 200x + 8000 R(x) = 500x…
Q: If marginal cost is greater than average total cost, then average total cost must be increasing.…
A: The marginal cost curve is downward sloping when it is below ATC. At the same time ATC is also…
Q: The market for high-quality matsutake mushrooms is dependent on the weather. If the weather is good,…
A: Condition for profit maximization is given as MR=MC MR is the marginal revenue and MC is the…
Q: The minimum average cost occurs when the average cost is equal to the marginal cost.
A: The total cost incurred by a firm includes fixed cost and variable cost. Fixed costs are the costs…
Q: If C = 0.0001Q2 + 3Q + 6000 is a total-cost function, find the marginal cost when Q = 100.
A: Marginal cost is the cost of the last unit produced, and it is a change in total cost for the last…
Q: If the production function of a firm is P = 60kl, where the price per unit of input k is $10 and I…
A: Production function of a firm : P = 60kl Price of per unit of k : r=$10 Price of per unit of l :…
Q: A firm is producing 20 units with an average total cost of $25 and marginal cost of $15. If it were…
A: Costs are the expenses that firms have to incur in all of their production activities.
Q: Based on the following function AC=(48/Q)+3Q+10, then the Fixed cost is A) 48 B) 9 C) 18/Q D) 18
A: Fixed costs refer to the expenses that are incurred for the production of goods that would remain…
Q: A firm manufactures a commodity at two different factories, Factory X and Factory Y. The total cost…
A: C(x,y) =x2 + xy + 8y2 + 700x +y = 1800
Q: What is the marginal cost, if the cost function given is C(Y)=6 a) Y? b) 3Y c) 6Y d) 12Y
A: Marginal cost refers to an additional cost that occurs from producing one more unit of output.
Q: C(Q) = 100 + 20Q + 15Q2 + 10Q3 Based on the cost function, determine: The average fixed cost of…
A:
Q: Consider the following Total Cost function TC= 20 + 0.5 Q Assume Q = 10 How much the Average Total…
A: Average total cost is the aggregate of all cost that the firm incur to produce a batch of product…
Q: The marginal cost curve is generally ______________, because diminishing marginal returns implies…
A: The economic cost compares the benefits and drawbacks of various options. It does this in terms of…
Q: Consider the following function: Ĉ = 0.03q + 6 + 200/q - determine the approximate cost to increase…
A: Marginal cost is the change in the total cost due to the increment in quantity produced by one…
Q: The total cost of producing q items is given by the formula C(q) = -q^3 + 40q^2 +1000, e.g. C(10)…
A: Total cost- It is the sum of all types of costs involved in the production.
Q: The reason the marginal cost curve eventually increases as output increases for the typical firm is…
A: The marginal cost of production is the difference in total production costs caused by adding one…
Q: Total cost function is: TC (Q) = 4Q+54 Find the marginal cost.
A: Below is the given total cost: TC (Q) = 4Q+54
Q: Find the cost function for the marginal cost function. c'(x) = 0.06 e 001x. fixed cost is S7 C(x) =|
A: We are going to find total cost function by integrating marginal cost function to answer this…
Q: Find the total-cost function c(q) given the marginal-cost function dc/dq below, if the fixed costs…
A: Given data: Fixed cost is $4000 dcdq=1q+8
Q: When a firm produces one unit, the variable cost is $3. When the firm produces two units, the…
A: The variable cost of the first unit = $3 The variable cost of the two units = $6
Q: Which of the following statements is false? If marginal cost is rising, then average variable cost…
A: The total cost incurred by a firm operating in a market includes fixed costs and variable costs.…
Q: Which of the following is not a fixed cost?
A: Fixed cost refers to a cost that does not change with an increase or decrease in the number of goods…
Q: A factory that you are managing has an hourly production process that can be represented by the…
A:
Q: Which of the following statements is correct? Multiple Choice ___ Marginal cost is the change in…
A: Marginal cost is defined as the extra coat a firm incurs by employing an extra unit of input.
Q: At zero level of production, _______ cost is always zero
A: Whenever production starts, the firm has to incur costs such as rent of the property such as…
Q: The total cost of producing the first q items is given by the formula C(q) = -2q^3 + 60q^2 + 1000…
A: Given: Total cost function C(q) = -2q3 + 60q2 + 1000 First, we will find the average cost function…
Q: A firm has access to two production processes with the following marginal cost curves: MC1 = 0.6Q1…
A: GIVEN A firm has access to two production processes with the following marginal cost curves: MC1 =…
Q: The weekly cost C of producing x units in a manufacturing process is given by C(x) = 60x + 2250.…
A: The cot function i given as C(x) = 60x + 2250.
Q: When production is at level zero then the value of ___________ cost is always zero.
A: Total cost = fixed cost + variable cost Fixed cost always remain constant even when output is zero.…
Q: Find the value of Marginal cost if the marginal cost function is given is :- 3Q2 - 42 And the…
A: The information being given to us:- Marginal cost function is as:- 3Q² - 42 Quantity is 5 units We…
The unit price of a product is given by P(X) = 200 - 0,01X and the total cost function C(x) = 50X + 20.000 How many items should be sold to maximize profit?
Step by step
Solved in 2 steps
- What is the difference between a price analysis and a cost analysisThe total cost C of making x units of a commodity is given by C = 0.005(x)3 + 0.45(x)2 + 12.75(x). All units made are sold at $36.75 per unit. The profit P is then given by P = 36.75(x) - C. Find the number of units to make to maximize profit.A firm will break even (no profit and no loss) as long as revenue just equals cost. The value of x (the number of items produced and sold) where C(x) = R(x) is called the break-even point. Assume that the below table can be expressed as a linear function. Find (a) the cost function, (b) the revenue function, and (c) the profit function. (d) Find the break-even point and decide whether the product should be produced, given the restrictions on sales. Fixed cost Variable cost Price of item $15 $300 $30 According to the restriction, no more than 17 units can be sold. (a) The cost function is C(x) =. (Simplify your answer.)
- A small business can produce a maximum of 43 of its product per month and sell them for $7 each. The variable costs are $2 per unit and fixed costs are $125 per month. a) Find the revenue function. R(x) = b) Find the cost function. C(x) = c) Calculate the number of items needed to be sold per month to break-even. d) Calculate the revenue at the break-even (round off to the nearest cent). $A small business can produce a maximum of 46 of its product per month and sell them for $7 each. The variable costs are $2 per unit and fixed costs are $175 per month. a) Find the revenue function. R(x) = b) Find the cost function. C(x) = c) Calculate the number of items needed to be sold per month to break-even. d) Calculate the revenue at the break-even (round off to the nearest cent). $ e) Plot the revenue and cost functions. 400 300 Revenue/Cost($)Cost, revenue, and profit are in dollars and x is the number of units. A firm knows that its marginal cost for a product is MC = 4x + 20, that its marginal revenue is MR = 50 – 6x, and that the cost of production of 100 units is $22,100. (a) Find the optimal level of production. units (b) Find the profit function. P(x) = (c) Find the profit or loss at the optimal level. There is a profit v of $
- The daily cost to manufacture generic trinkets for gullible tourists is given by the cost function C(x) = -0.001x2 + 0.7x + 590 dollars, where x is the number of trinkets. (a) Find C'(x). C'(x) = As x increases, the marginal cost does which of the following? increases decreases increases then decreases decreases then increases (b) Find C(x). C(x) = As x increases, the average cost does which of the following? increases decreases increases then decreases decreases then increases (c) Find the following values. C'(100) = C(100) The marginal cost is less than the average cost when x = 100. Submit Answer O OCost, revenue, and profit are in dollars and x is the number of units. A firm knows that its marginal cost for a product is MC = 2x + 25, that its marginal revenue is MR = 73 – 6x, and that the cost of production of 80 units is $8,560. (a) Find the optimal level of production. units (b) Find the profit function. P(x) = (c) Find the profit or loss at the optimal level. There is a -Select--- v of $Cost, revenue, and profit are in dollars and x is the number of units. A firm knows that its marginal cost for a product is MC = 3x + 30, that its marginal revenue is MR = 62 − 5x, and that the cost of production of 60 units is $7,300. (a) Find the optimal level of production. units (b) Find the profit function. P(x) = (c) Find the profit or loss at the optimal level. There is a ---Select--- profit loss of $ .
- As a production process requires labor L and capital K, q = F (L, K). The wage for a labor is $500, the cost for one capital is $250. If the production plan is to produce 250 products, what is the firm's minimized cost? A: $7500 B: $5000 C: $12500 D: $10000Suppose that the marginal revenue for firefighting protective clothes is MR = 337.5 4x and the marginal cost is MC = 3.5x + 15 with a fixed cost of $295. Assume R(0) = 0. b) Find the revenue function. R(x)= = c) Find the cost function. C(x) = d) What is the maximum profit (to the nearest dollar)? The maximum profit isIf C(x) the total cost function of producing x items, then the marginal cost at x = a, given by C'(a), is the approximate cost to produce the (a + 1)st item. If the cost of producing x golf carts is C(x) = 0.001x³ + 0.2x2 + 39x + 200 what is the cost of producing 20 golf carts? C(20) = $ What the marginal cost when x = 20? C'(20) = $
