ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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- 0.8₁ A firm's production function is given by Q = 40K0.8L0.2 Each unit of capital costs $40 and each unit of labour costs $80. (a) Find the maximum level of output if the total input costs are $400,000. (b) Estimate the increase in production if an addtional $5,000 is made available. (c) Show that the ratio of marginal product to price is the same for both inputs. (a) Maximum output Q = (Round to the nearest integer as needed.)arrow_forwardThe marginal revenue (in thousands of dollars) from the sale of x handheld gaming devices is given by the following function. )= 4x (x² +27,000) 4x R'(x) = 2 (a) Find the total revenue function if the revenue from 130 devices is $21,660. (b) How many devices must be sold for a revenue of at least $38,000? BECED (a) The total revenue function is R(x)=, given that the revenue from 130 devices is $21,660. (Round to the nearest integer as needed.) (b) devices must be sold to generate a revenue of at least $38,000. (Type a whole number.)arrow_forwardA company produces very unusual CD's for which the variable cost is $ 15 per CD and the fixed costs are $ 50000. They will sell the CD's for $ 79 each. Let a be the number of CD's produced. Write the total cost C as a function of the number of CD's produced. C =$ Write the total revenue R as a function of the number of CD's produced. R=$ Write the total profit P as a function of the number of CD's produced. P=$ Find the number of CD's which must be produced to break even. The number of CD's which must be produced to break even is Question Help: Video Submit Questionarrow_forward
- Your college newspaper, The Collegiate Investigator, sells for 90¢ per copy. The cost of producing x copies of an edition is given by C(x) = 60 + 0.10x + 0.001x² dollars. (a) Calculate the marginal profit function, in dollars per copy. P'(x) = (b) Compute the marginal profit, if you have produced and sold 500 copies of the latest edition. When you produce and sell 500 copies, the marginal profit is dollars per copy. Interpret the results: The approximate loss from the production and sale of the 501st сорy is dollars.arrow_forwardMath 1arrow_forwardThe cost of producing � units of stuffed alligator toys is �(�)=0.004�2+10�+4000. Find the marginal cost at the production level of 1000 units.arrow_forward
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