Question

Suppose a product has a marginal revenue MR=150 and a marginal cost MC=x+40, with a fixed...

Suppose a product has a marginal revenue MR=150 and a marginal cost MC=x+40, with a fixed cost of $500. How many units will give you a maximum profit and what is the maximum profit?

Math   Calculus   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #2

answered by: anonymous
0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
26. The marginal cost for a product is: MC = 3X +20; its; marginal revenue is...
26. The marginal cost for a product is: MC = 3X +20; its; marginal revenue is              MR = 44 - 5x. The cost of production of 80 units is 11,400. Find the optimal level of production X. Find the Profit Function. Find the Profit or Loss at the optimal level x.
Suppose you are given the following table: Output Price Total Cost Total Revenue Marginal Revenue Marginal...
Suppose you are given the following table: Output Price Total Cost Total Revenue Marginal Revenue Marginal Cost Average Total Cost Profit/ Loss (P-ATC) 0 150 100 1 138 150 2 125 184 3 113 208 4 100 227 5 88 250 6 75 280 7 63 318 8 50 366 9 38 425 10 25 500 a. Determine the optimum /profit maximizing point using the MR-MC Principle b. At this point, what are the total profits? c. Calculate (Price -...
Cost, revenue, and profit are in dollars and x is the number of units. A firm...
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 = 70 − 5x, and that the cost of production of 60 units is $7,380. (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 of...
A manufacturing company of a certain product has a fixed cost of $40 and a variable...
A manufacturing company of a certain product has a fixed cost of $40 and a variable cost of 2x^3+13x, what is the total cost function and the cost to produce 50 of these products? What is the marginal cost when x = 50?                                              At what level of output will average cost per unit be a minimum? What is this minimum?                                                                                               If the demand price for this product is set at d(x) = -x^2+49, determine the amount of production...
Cost, revenue, and profit are in dollars and x is the number of units. Suppose that...
Cost, revenue, and profit are in dollars and x is the number of units. Suppose that the total revenue function for a product is R(x) = 55x and that the total cost function is C(x) = 2200 + 35x + 0.01x2. (a) Find the profit from the production and sale of 500 units. (b) Find the marginal profit function (c) Find MP at x = 500. Explain what it predicts. The total profit will ------ by approximately $------- on the...
Suppose the marginal cost of abatement for a airborne pollutant is MC= 4X, where X is...
Suppose the marginal cost of abatement for a airborne pollutant is MC= 4X, where X is measured in tons, and the marginal benefit of abatement is 500 - X. The maximum abatement (reducing pollution to zero) is XMAX= 500. a) Graph the MC and MB curves and show the efficienct level of abatement X* on the graph. b) Calculate the efficient level of abatement X* c) Suppose there is no abatement (X=0, which implies no actions are made to remove...
The revenue and cost functions for a particular product are given below. The cost and revenue...
The revenue and cost functions for a particular product are given below. The cost and revenue are given in dollars, and x represents the number of units . R(x) = −0.2x2 + 146x C(x) = 66x + 7980 (a) How many items must be sold to maximize the revenue? (b) What is the maximum revenue? (c) Find the profit function. P(x) =   −.2x2+212x+7980 (d) How many items must be sold to maximize the profit? (e) What is the maximum profit?...
A monopolist faces the following demand curve, marginal revenue curve, total cost curve and marginal cost...
A monopolist faces the following demand curve, marginal revenue curve, total cost curve and marginal cost curve for its product: Q = 200 - 2P MR = 100 - Q    TC = 5Q MC = 5    a. What is the profit maximizing level of output? b. What is the profit maximizing price? c. How much profit does the monopolist earn?
Suppose that a company has a fixed cost of $150 per day and a variable cost...
Suppose that a company has a fixed cost of $150 per day and a variable cost of x^2 + x . Further suppose that the revenue function is R(x) = xp and the price per unit is given by p = 57 – x. Sketch the cost and revenue functions and locate the regions of profit and loss. You should find the break even points before you create your graph.
MarginalCost/Revenue/Profit “mC”/“mR”/“mP” values represent the changes in total Cost/Revenue/Profit “C”/”R”/”P” anticipated if the present sales volume...
MarginalCost/Revenue/Profit “mC”/“mR”/“mP” values represent the changes in total Cost/Revenue/Profit “C”/”R”/”P” anticipated if the present sales volume “x” changed by 1-unit from its current level.   The differential calculus approach to estimating a product line’s mC/mR/mP involves taking the 1stderivativeof the total C/R/Pequations, and then using these 1stderivativesin the process of solving for the appropriate “x” values.   C = -0.1733(x)2+ 424.81(x)+ 119,384 R= 937.5(x) – 0.4375(x)2 P= –0.2642(x)2+ 512.69(x) – 119,384. Make your estimates assuming each of the following two initial sales...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT