1. Digicel's profit function for the sale of S21 is as follows: л(q) = −2q² + 350q-150 The selling price per S21 is given by the function: p = 600 -2q Where q represents the number of S21 (in thousands), cost and revenue are in thousand of dollars. Using the information provided above, determine the following: a. Total Cost function. [41] b. Marginal Cost (MC) when 4000 S21 are produced. ப c. Give an interpretation of your answer from Part b. above. 2717 d. The number of S21 that must be sold for Digicel to make a Marginal Revenue (MR) of $300,000.00. e. At what level of quantity will the firm maximize its profit.
1. Digicel's profit function for the sale of S21 is as follows: л(q) = −2q² + 350q-150 The selling price per S21 is given by the function: p = 600 -2q Where q represents the number of S21 (in thousands), cost and revenue are in thousand of dollars. Using the information provided above, determine the following: a. Total Cost function. [41] b. Marginal Cost (MC) when 4000 S21 are produced. ப c. Give an interpretation of your answer from Part b. above. 2717 d. The number of S21 that must be sold for Digicel to make a Marginal Revenue (MR) of $300,000.00. e. At what level of quantity will the firm maximize its profit.
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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![1. Digicel's profit function for the sale of S21 is as follows:
л(q) = −2q² + 350q-150
The selling price per S21 is given by the function:
p = 600 -2q
Where q represents the number of S21 (in thousands), cost and revenue are in thousand
of dollars.
Using the information provided above, determine the following:
a. Total Cost function.
[41]
b. Marginal Cost (MC) when 4000 S21 are produced.
ப
c. Give an interpretation of your answer from Part b. above.
2717
d. The number of S21 that must be sold for Digicel to make a Marginal
Revenue (MR) of $300,000.00.
e. At what level of quantity will the firm maximize its profit.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1683849d-5094-46de-a57a-7abddfb1bc38%2Ffd08fd7b-9686-4542-bf2f-371877067f02%2Fcteahn_processed.png&w=3840&q=75)
Transcribed Image Text:1. Digicel's profit function for the sale of S21 is as follows:
л(q) = −2q² + 350q-150
The selling price per S21 is given by the function:
p = 600 -2q
Where q represents the number of S21 (in thousands), cost and revenue are in thousand
of dollars.
Using the information provided above, determine the following:
a. Total Cost function.
[41]
b. Marginal Cost (MC) when 4000 S21 are produced.
ப
c. Give an interpretation of your answer from Part b. above.
2717
d. The number of S21 that must be sold for Digicel to make a Marginal
Revenue (MR) of $300,000.00.
e. At what level of quantity will the firm maximize its profit.
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