A company has established that the relationship between the sales price for one of its products and the quantity sold per month is approximately p=75-0.10 (D is the demand or quantity sold per month and p is the price in dollars). The fixed cost is $1,000 per month and the variable cost is $30 per unit produced. a. What is the maximum profit per month for this product? b. What is the range of profitable demand during a month? a. The maximum profit per month for this product is S (Round to the nearest dollar.) b. The range of profitable demand during a month from units to units. (Round up the lower limit and down the upper limit to the nearest whole number.)

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At a price of R 8 per item consumers will buy 1500 units. If the company increases the  price by R1 per item, the number of items that the consumers will buy will decrease by 75. i) Does the function described represent a supply or demand curve? Find the formula  of the function given that it is a linear function. ii) Find the price that will maximize the revenue.

Q3

Determine the quantity of output that generates the maximum profit. Use the green points (triangle symbol) to indicate the amount of profit at this quantity of output. Then, determine the quantity of output that generates the maximum total revenue. Use the purple points (diamond symbol) to indicate the amount of revenue at this quantity of output. Note: Plot your points in the order in which you would like them connected. Line segments will connect the points automatically. Total Revenue, Total Cost 100 90 80 70 50 40 30 20 10 OD 0 O 0 O 0 O 5 10 OF 15 O □ 20 O 25 O 30 TC 35 TR 40 45 50 ♦ Maximum Revenue Maximum Profit (?)

Many companies start with cost to determine price since revenue must cover cost for the firm to make a profit. True False

(a) Calculate the value of marginal profit when marginal revenue is $400 and marginal cost is $700 (b) Is the firm getting benefits?

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(A) The Marginal cost of a firm is $230 and the marginal revenue is $255 What would be the value of Marginal profit (B) is the firm maximizing its profit?

On the graph input tool, change the number found in the Quantity Demanded field to determine the prices that correspond to the production of 0, 6, 12, 15, 18, 24, and 30 units of output. Calculate the total revenue for each of these production levels. Then, on the following graph, use the green points (triangle symbol) to plot the results.   Calculate the total revenue if the firm produces 6 versus 5 units. Then, calculate the marginal revenue of the sixth unit produced. The marginal revenue of the sixth unit produced is________.   Calculate the total revenue if the firm produces 12 versus 11 units. Then, calculate the marginal revenue of the 12th unit produced. The marginal revenue of the 12th unit produced is_________.