Engineering Economy (17th Edition)
17th Edition
ISBN: 9780134870069
Author: William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher: PEARSON
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Question
Chapter 2, Problem 15P
a.
To determine
The number of units that should be procured and sold every month to maximize the profit.
b.
To determine
The maximized profit from part.a answer.
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Students have asked these similar questions
XYZ company can manufacture their own products and sells them. They are able
to control the demand by changing the price that is determined by the equation
below. The company is thinking of maximizing their profit. The fixed cost is
$1,000 per month and the variable cost is $40 per unit. Find the number of units
that must be manufactured and sold monthly to maximize profit. (Demand D in
the equation is monthly) Hint: Profit = Total Revenue - Total Cost
2,700
5,000
p = $38 +
D
for D > 1
D2
1 Add file
Best Orange Juice Company is located in Oman. The cost function for total orange juice
production (x) is given by C(q) 3D0.25x². Their orange juice is demanded only in Muscat (Muscat
demand is Xm= 100-2Pm) and Salalah (Salalah demand is 100-4P,). Therefore, the total
demand is x-St Xs. If the company can control the quantities supplied to each market, how many
should it sell in each location to maximize total profits? What price would it charge in each
location?
Answer
A company produces and sells hair dryers in a
market where price (p) and demand (D) are
related as follows:
p = $35 + (3,000)/D – (4,800)/D²
The fixed cost (C;) is $800 per month and the
variable cost per hair dryer (c,) is $38.
How many hair dryers should be produced
each month to maximize profits?
Chapter 2 Solutions
Engineering Economy (17th Edition)
Ch. 2 - An experimental composite engine block for an...Ch. 2 - Given below is a numbered list of cost terms. For...Ch. 2 - Prob. 3PCh. 2 - Prob. 4PCh. 2 - Prob. 5PCh. 2 - Prob. 6PCh. 2 - Prob. 7PCh. 2 - Prob. 8PCh. 2 - Prob. 9PCh. 2 - Prob. 10P
Ch. 2 - Prob. 11PCh. 2 - Prob. 12PCh. 2 - Prob. 13PCh. 2 - Prob. 14PCh. 2 - Prob. 15PCh. 2 - Prob. 16PCh. 2 - Prob. 17PCh. 2 - Prob. 18PCh. 2 - Prob. 19PCh. 2 - Prob. 20PCh. 2 - Prob. 21PCh. 2 - Prob. 22PCh. 2 - Prob. 23PCh. 2 - Prob. 24PCh. 2 - Prob. 25PCh. 2 - Prob. 26PCh. 2 - Suppose you are going on a long trip to your...Ch. 2 - Prob. 28PCh. 2 - Prob. 29PCh. 2 - A company uses a variable speed honing machine to...Ch. 2 - Prob. 31PCh. 2 - An automobile dealership offers to fill the four...Ch. 2 - Prob. 33PCh. 2 - Prob. 34PCh. 2 - Prob. 35PCh. 2 - Prob. 36PCh. 2 - Prob. 37PCh. 2 - Prob. 38PCh. 2 - Prob. 39PCh. 2 - Prob. 40PCh. 2 - Prob. 41PCh. 2 - Prob. 42PCh. 2 - Prob. 43PCh. 2 - Prob. 44PCh. 2 - A hot water leak in one of the faucets of your...Ch. 2 - Prob. 46PCh. 2 - Prob. 47PCh. 2 - Prob. 48SECh. 2 - Prob. 49SECh. 2 - Prob. 50CSCh. 2 - Prob. 51CSCh. 2 - What is the optimal number of units that should be...Ch. 2 - Prob. 53FECh. 2 - Prob. 54FECh. 2 - Prob. 55FECh. 2 - Prob. 56FECh. 2 - Prob. 57FECh. 2 - Prob. 58FE
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