A sporting goods store sells 100 pool tables per year. It costs $52 to store one pool table for a year. To reorder, there is a fixed cost of $26 per shipment plus $10 for each pool table. How many times per year should the store order pool tables and in what lot size, in order to minimize inventory costs? The store should order pool tables times per year to minimize inventory costs.

Micro Economics For Today
10th Edition
ISBN:9781337613064
Author:Tucker, Irvin B.
Publisher:Tucker, Irvin B.
Chapter7: Proudction Costs
Section: Chapter Questions
Problem 17SQ
icon
Related questions
Question
100%

This is my last question to ask for s tutor. I attached the work i need help with. It is three sections. One picture has two parts and the other only has one part. If whoever replies to this can please help a student out with answering all three sections I will definitely write a good comment about you and like the work. I just need help with these last two pictures and this is my last question. Plesse plesse help me. God bless

A sporting goods store sells 100 pool tables per year. It costs $52 to store one pool table for a year. To reorder, there is a fixed cost of $26 per shipment plus $10 for each pool table. How many times per year should the store order pool tables,
and in what lot size, in order to minimize inventory costs?
The store should order
pool tables
times per year to minimize inventory costs.
Transcribed Image Text:A sporting goods store sells 100 pool tables per year. It costs $52 to store one pool table for a year. To reorder, there is a fixed cost of $26 per shipment plus $10 for each pool table. How many times per year should the store order pool tables, and in what lot size, in order to minimize inventory costs? The store should order pool tables times per year to minimize inventory costs.
Bus Econ 2.5.27
Find the maximum profit and the number of units that must be produced and sold in order to yield the maximum profit. Assume that revenue, R(x), and cost, C(x), are in thousands of dollars, and x is in thousands of units.
R(x) = 7x - 2x, C(x) =x° - 3x2 + 4x +1
The production level for the maximum profit is about
units.
(Do not round until the final answer. Then round to the whole number as needed.)
2parts
Enter your answer in the answer box nd then click Check Answer.
1 part
remaining
Clear All
Ch
Transcribed Image Text:Bus Econ 2.5.27 Find the maximum profit and the number of units that must be produced and sold in order to yield the maximum profit. Assume that revenue, R(x), and cost, C(x), are in thousands of dollars, and x is in thousands of units. R(x) = 7x - 2x, C(x) =x° - 3x2 + 4x +1 The production level for the maximum profit is about units. (Do not round until the final answer. Then round to the whole number as needed.) 2parts Enter your answer in the answer box nd then click Check Answer. 1 part remaining Clear All Ch
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps with 1 images

Blurred answer
Knowledge Booster
Arrow's Impossibility Theorem
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.
Similar questions
Recommended textbooks for you
Micro Economics For Today
Micro Economics For Today
Economics
ISBN:
9781337613064
Author:
Tucker, Irvin B.
Publisher:
Cengage,
Survey Of Economics
Survey Of Economics
Economics
ISBN:
9781337111522
Author:
Tucker, Irvin B.
Publisher:
Cengage,
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics: Applications, Strategies an…
Managerial Economics: Applications, Strategies an…
Economics
ISBN:
9781305506381
Author:
James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:
Cengage Learning
Economics:
Economics:
Economics
ISBN:
9781285859460
Author:
BOYES, William
Publisher:
Cengage Learning
Microeconomic Theory
Microeconomic Theory
Economics
ISBN:
9781337517942
Author:
NICHOLSON
Publisher:
Cengage