Solve question 1-62 he sites do you recommend?1-62 A firm is planning to manufacture a new product. Asthe selling price is increased, the quantity that canbe sold decreases. Numerically the sales departmentestimates:P = $475 – 0.25Quolo o Aaills where P=selling price per unitQ=quantity sold per yearoingIImilOn the other hand, management estimates thatrdginthe average unit cost of manufacturing and sell-ing the product will decrease as the quantity soldincreases. They estimate

P=475-0.25QTC=48Q+22500Now,TR=P×QTR=(475-0.25Q)(×QTR=475Q-0.25Q2

A firm is planning to manufacture a new product. As the selling price is increased, the quantity that can be sold decreases. Numerically the sales department estimates: P = $475 -0.25Q where Pselling price per unit Q = quantity sold per year (4)

A firm is planning to manufacture a new product. As the selling price is increased, the quantity that can be sold decreases. Numerically the sales department estimates: P = $475 -0.25Q where Pselling price per unit Q = quantity sold per year (4)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Solve question 1-62

he sites do you recommend?
1-62 A firm is planning to manufacture a new product. As
the selling price is increased, the quantity that can
be sold decreases. Numerically the sales department
estimates:
P = $475 – 0.25Q
uolo o A
aills where P=selling price per unit
Q=quantity sold per year
oing
II
mil
On the other hand, management estimates that
rdgin
the average unit cost of manufacturing and sell-
ing the product will decrease as the quantity sold
increases. They estimate

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