Question
For a company that produces and sells x number of chairs per month, the profit function...
For a company that produces and sells x number of chairs per
month, the profit function is given by G (x) = -0.02x^2 + 200x -
40,000 and the marginal profit function by G' (x) = -0.04x + 200.
So, we can conclude that G' (8,900) =-156 can be interpreted as
follows:
a. The company has a loss of approximately $ 156 when 8,900
chairs are produced and sold.
b. The company has a loss of approximately $ 156 when 8,901
chairs are produced and sold.
c. The company has a loss of approximately $ 156 when chair #
8,901 is produced and sold.
d. Profit decreases approximately $ 156 when chair # 8,900 is
produced and sold.
e. Profit decreases approximately $ 156 when chair # 8,901 is
produced and sold.
Homework Answers
Answer #1
Not the answer you're looking for?
Similar Questions
ABC Company sells 2,055 chairs a year at an average price per chair of $164. The...
ABC Company sells 2,055 chairs a year at an average price per
chair of $164. The carrying cost per unit is $33.59. The company
orders 500 chairs at a time and has a fixed order cost of $79 per
order. The chairs are sold out before they are restocked. What is
the economic order quantity?
A furniture company produces tables (X) and chairs (Y). Available resources have indicated that the production...
A furniture company produces tables (X) and chairs (Y).
Available resources have indicated that the production volume level
should not exceed 1200 units per week and the demand for chairs is
at most half of that for tables. Further, the production level of
tables can exceed three times the production of chairs by at most
600 units. If the company makes a profit of OMR12 and OMR 16 per
unit respectively on tables and chairs, how many of each should...
A firm producing lawn chairs has fixed cost of $700.00 per week. The variable cost is...
A firm producing lawn chairs has fixed cost of $700.00 per week.
The variable cost is $8.00 per chair, and the revenue per chair is
$18.00.
A. Write the equation that represent the cost per week, C, for
producing x lawn chairs
B. Write the equation that represents the revenue per week, R,
from selling x lawn chairs.
C. What is the cost of produxing 100 lawn chairs in a week (show
work)
D. What is the revenue from selling...
2. An oil company sells 150-liter barrels at $100 each. The company estimates that for a...
2. An oil company sells 150-liter barrels at $100 each. The
company estimates that for a given year their projected monthly
cost will be modeled by c(x) = 0.005x3 − 2x + 5000
dollars when x barrels are sold.
a) What is the company’s revenue function when x barrels are
sold?
b) What is the company’s profit function?
c) What is the company’s marginal profit function?
d) Use marginal analysis to estimate the profit when 20 barrels
are sold
LeBron Factory Number of Workers Number of Machines Output (chairs produced per hour) Marginal Product of...
LeBron
Factory
Number
of
Workers
Number
of
Machines
Output
(chairs
produced
per hour)
Marginal
Product of
Labor
Cost of
Workers
Cost of
Machines
Total
Cost
?1
?2
?5
?2
?2
?10
?3
?2
?20
?4
?2
?35
?5
?2
?55
?6
?2
?70
?7
?2
?80
Refer to Table above.
First, complete the missing information in the Table
above.
1.Each worker at the
LeBron Chair Factory costs $12 per hour. The cost of each machine
is $20 per day regardless...
1. Suppose the equation p(x,y)=-2x^2+80x-3y^2+90+100 models profit when x represents the number of handmade chairs and...
1. Suppose the equation p(x,y)=-2x^2+80x-3y^2+90+100 models
profit when x represents the number of handmade chairs and y is the
number of handmade rockers produced per week.
(1) How many chairs and how many rockers will give the maximum
profit when there is not constraint?
(2) Due to an insufficient labor force they can only make a
total of 20 chairs and rockers per week (x + y = 20). So how many
chairs and how many rockers will give the...
Through research, a company produces a function, ?(?), that tracks the company’s profit (in $) when...
Through research, a company produces a function, ?(?), that
tracks the company’s profit (in $) when they sell ?
backpacks.
a. What is the meaning of ?(300) = 40,000 and what are its
units?
b. What is the meaning of ?’(300) = 60 and what are its units?
Suppose that the marginal profit function for a company is 120 + 34 x − 3...
Suppose that the
marginal profit function for a company is 120 + 34 x − 3 x 2 at
production level x.
Find the extra
profit earned from the sale of six additional units if eight units
are currently being produced.
An electronics company's profit P(x, y) from making x DVD players and y CD players per...
An electronics company's profit
P(x, y)
from making x DVD players and y CD players per
day is given below.
P(x, y) = 4x2 − 3xy + 3y2 + 150x + 73y +
220
(a)
Find the marginal profit function for DVD players.
Px(x, y) =
(b)
Evaluate your answer to part (a) at
x = 200
and
y = 300.
Interpret the result.
option 1: The profit increases per additional DVD player when
200 DVD and 300 CD players...
A company produces x widgets for a cost of C(x) dollars and sells them for 2280...
A company produces x widgets for a cost of C(x) dollars and
sells them for 2280 dollars per widget.
If the cost function is C(x)=6450+760x+0.8x2, find the production
level that will maximize profit.
x = _____widgets
Be sure to apply a test to check that you have found the
maximum.
ADVERTISEMENT
Need Online Homework Help?
Get Answers For Free
Most questions answered within 1 hours.
ADVERTISEMENT
Active Questions
asked 1 minute ago
asked 22 minutes ago
asked 34 minutes ago
asked 37 minutes ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 1 hour ago
asked 2 hours ago
asked 2 hours ago
asked 2 hours ago