Question

The Mary Ellen Candy Company produces chocolate Easter bunnies at a cost per unit of 0.40...

The Mary Ellen Candy Company produces chocolate Easter bunnies at a cost per unit of 0.40 + 0.005x dollars, where x is the number produced. If the price on the competitive market for a bunny this size is $10.00, how many should the company produce to maximize its profit?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
The price of a product in a competitive market is $500. If the cost per unit...
The price of a product in a competitive market is $500. If the cost per unit of producing the product is 140 + 0.1x dollars, where x is the number of units produced per month, how many units should the firm produce and sell to maximize its profit? units
5) The cost per unit of producing a product is 60 + 0.2x dollars, where x...
5) The cost per unit of producing a product is 60 + 0.2x dollars, where x represents the number of units produced per week. The equilibrium price determined by a competitive market is $220. How many units should the firm produce and sell each week to maximize its profit? b) What is the maximum profit?
Suppose a company has fixed costs of $53,200 and variable cost per unit of 2 5...
Suppose a company has fixed costs of $53,200 and variable cost per unit of 2 5 x + 444 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 2372 − 3 5 x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) x = (b) Find the maximum revenue. (Round your answer to the nearest cent.) $ (c) Form the profit function P(x)...
Suppose a company has fixed costs of $48,000 and variable cost per unit of 2/5x +...
Suppose a company has fixed costs of $48,000 and variable cost per unit of 2/5x + 444 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 2468 −3/5x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) x =      (b) Find the maximum revenue. (Round your answer to the nearest cent.) $   (c) Form the profit function P(x) from the cost and...
A company produces widgets at plants 1 and 2. It costs 135x1/2 dollars to produce x...
A company produces widgets at plants 1 and 2. It costs 135x1/2 dollars to produce x units at plant 1 and 260x1/3 dollars to produce x units at plant 2. Each plant can produce up to 1,000 units. Each unit produced can be sold for $12. At most 1,700 widgets can be sold. Determine how the company can maximize its profit.
Suppose a company has fixed costs of $47,600 and variable cost per unit of 4/9x+ 333...
Suppose a company has fixed costs of $47,600 and variable cost per unit of 4/9x+ 333 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 1767 −5/9x x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) x =      (b) Find the maximum revenue. (Round your answer to the nearest cent.) $   (c) Form the profit function P(x) from the cost and...
Suppose a company has fixed costs of $2400 and variable costs per unit of 15 16...
Suppose a company has fixed costs of $2400 and variable costs per unit of 15 16 x + 1700 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 1800 − 1 16 x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) (b) Find the maximum revenue. (c) Form the profit function P(x) from the cost and revenue functions. Find the maximum profit....
Suppose a company has fixed costs of $2400 and variable costs per unit of 15/16 x...
Suppose a company has fixed costs of $2400 and variable costs per unit of 15/16 x + 1700 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 1800 − 1/16 x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) (b) Find the maximum revenue. (c) Form the profit function P(x) from the cost and revenue functions. Find the maximum profit. (d) What...
Your company produces and sells cat food. Your company’s fixed cost is $4,500 per day and...
Your company produces and sells cat food. Your company’s fixed cost is $4,500 per day and its variable cost is $25 per case of cat food produced. After researching the market, you estimate the price your company can sell each case of cat food to be $58-$0.40D where D is the number of cases sold per day. Without using the equations in your book: How many cases should your company sell per day to maximize its daily revenue? How many...
Suppose a company has fixed costs of $700 and variable costs per unit of 7 8...
Suppose a company has fixed costs of $700 and variable costs per unit of 7 8 x + 1120 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 1200 − 1 8 x dollars per unit. (a) Find the break-even points. (Enter your answers as a comma-separated list.) x = 10, 70 (b) Find the maximum revenue. $ (c) Form the profit function P(x) from the cost and revenue...