Question

If, in a monopoly market, the demand for a product is *p*
= 120 − 0.80*x* and the revenue function is *R* =
*px*, where *x* is the number of units sold, what
price will maximize revenue? (Round your answer to the nearest
cent.)

Answer #1

If, in a monopoly market, the demand function for a product is p
= 145 − 0.80x and the revenue function is R = px, where x is the
number of units sold and p is the price per unit, what price will
maximize revenue?

The monthly demand function for x units of a product
sold by a monopoly is
p = 6,100 −
1/2x2 and its average cost
is C = 3,030 + 2x dollars. Production is
limited to 100 units.
a) Find the profit function, P(x), in dollars.
b) Find the number of units that maximizes profits. (Round your
answer to the nearest whole number.)
c) Find the maximum profit. (Round your answer to the nearest
cent.)

The monthly demand function for a product sold by a monopoly is
p = 2200 − (1/3)x^2 dollars, and the average cost is C = 1000 + 10x
+ x^2 dollars. Production is limited to 1000 units and x is in
hundreds of units.
(a) Find the quantity (in hundreds of units) that will give
maximum profit.
(b) Find the maximum profit. (Round your answer to the nearest
cent.)

1. In this problem, p and C are in dollars and
x is the number of units.
A monopoly has a total cost function
C = 1000 + 216x + 0x2 for
its product, which has demand function p = 648 ?
3x ? 2x2.
Find the consumer's surplus at the point where the monopoly has
maximum profit. (Round your answer to the nearest cent.)
2. In this problem, p is in dollars and x is
the number of units....

3. As the number of units sold increases, market price decreases
(supply and demand).
Suppose that p = 5000 – 0.75x , where p
is the market price and x is the number of
units sold. Suppose further that the
cost of producing x items is given by
C(x) = 3000 + 15x, and that the revenue
from the sale of x units is given by
R(x) = 120x.
a. Express the cost as a...

The consumer demand equation for tissues is given by q = (96 −
p)2, where p is the price per case of tissues and q is the demand
in weekly sales.
(a) Determine the price elasticity of demand E when the price is
set at $31. (Round your answer to three decimal places.) E =
Interpret your answer. The demand is going by % per 1% increase in
price at that price level.
(b) At what price should tissues be...

The demand for cat food is given by
D(x)=110e^−0.02x
where x is the number of units sold and D(x) is the price in
dollars.
Find the revenue function.
R(x)=
Find the number of units sold that will maximize the revenue.
Select an answer units or dollars
Find the price that will yield the maximum revenue.
Select an answer units or dollars

The demand function for a particular brand of LCD TV is given
by
p = 2400 − 30x
where p is the price per unit in dollars when
x television sets are sold.
(a) Find the revenue function.
R(x) =
(b) Determine the number of sets that must be sold in order to
maximize the revenue.
sets
(c) What is the maximum revenue?
$
(d) What is the price per unit when the revenue is maximized?
$ per unit

The short term demand for a product can be approximated by q =
D(p) = 18 − 2 √p where p represents the price of the product, in
dollars per unit, and q is the number of units demanded. Determine
the elasticity function. Use the elasticity of demand to determine
if the current price of $50 should be raised or lowered to maximize
total revenue.

Let
Q(p) be the demand function for a certain product, where p is
price. If R is a function of p for the total revenue, (dR)/(dp)
MR=
Your answer should be In terms of Q and E

ADVERTISEMENT

Get Answers For Free

Most questions answered within 1 hours.

ADVERTISEMENT

asked 17 minutes ago

asked 30 minutes ago

asked 33 minutes ago

asked 35 minutes ago

asked 42 minutes ago

asked 52 minutes ago

asked 1 hour ago

asked 2 hours ago

asked 2 hours ago

asked 2 hours ago

asked 2 hours ago

asked 2 hours ago