Windies Cricket manufactures Windies supporter jerseys. The quantity q, of these jerseys demanded weekly is related to the wholesale price per jersey p, by the following equation: P = 0.006q+15 The weekly total cost incurred by Windies Cricket for producing q jerseys is: C(q) = 38q - 0.02q² + 30,000 d. Will Windies Cricket record a loss or profit if they were to produce and sell 2450 jerseys? e. If Windies Cricket wishes to maintain a total cost less than $42,000.00, what range(s) of Windies jerseys should be produced. f. Calculate the equilibrium price and quantity for Windies jerseys.
Windies Cricket manufactures Windies supporter jerseys. The quantity q, of these jerseys demanded weekly is related to the wholesale price per jersey p, by the following equation: P = 0.006q+15 The weekly total cost incurred by Windies Cricket for producing q jerseys is: C(q) = 38q - 0.02q² + 30,000 d. Will Windies Cricket record a loss or profit if they were to produce and sell 2450 jerseys? e. If Windies Cricket wishes to maintain a total cost less than $42,000.00, what range(s) of Windies jerseys should be produced. f. Calculate the equilibrium price and quantity for Windies jerseys.
Managerial Economics: A Problem Solving Approach
5th Edition
ISBN:9781337106665
Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Chapter7: Economies Of Scale And Scope
Section: Chapter Questions
Problem 5MC
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Windies Cricket manufactures Windies supporter jerseys. The quantity q, of these jerseys demanded weekly is related to the wholesale price per jersey p, by the following equation: P = 0.006q+15 The weekly total cost incurred by Windies Cricket for producing q jerseys is: C(q) = 38q - 0.02q² + 30,000 d. Will Windies Cricket record a loss or profit if they were to produce and sell 2450 jerseys? e. If Windies Cricket wishes to maintain a total cost less than $42,000.00, what range(s) of Windies jerseys should be produced. f. Calculate the
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