**Cost and Price Functions**Given Cost and Price (demand) functions $ C(q) = 110q + 45000 $ and $ p(q) = -2.8q + 800 $, what profit can be earned if the price is set to be $550 per item?- The profit is $__________. (Round to the nearest cent.)---**Company Production Analysis**A company produces a special new type of TV. The company has fixed costs of $499,000, and it costs $1100 to produce each TV. The company projects that if it charges a price of $2300 for the TV, it will be able to sell 850 TVs. If the company wants to sell 900 TVs, however, it must lower the price to $2000. Assume a linear demand.- What is the marginal profit if 200 TVs are produced?- It is $__________ per item. (Round answer to nearest dollar.)

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Answered: Given Cost and Price (demand) functions…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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5) If Hilltop Turf Farm's total cost of producing acres of sod is TC = 0.20- 1200 - 5,000, the marginal cost of producing the fiftieth 50th acre of sod is a) S110. b) $120. C) $130. d) $140. e) $150.
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QUESTION 14 Suppose a busness owner operates her business out of a building that she owns. Also assume that there are ho malntenance or utlity costs associated with the building This means that it is costless for the business owner to use the buildng to operate the business O True O False QUESTION 15 if the 15th unit of output has a marginal cost of s29.50 and the average total cost of producing 14 units of output is 3021 what will happen to the average total cost is the 15th unit is produced? O Average Total Cost will fal. O Average Total Cost will increase O Average Totual Cost could increase or decrease deperiding on whar happets to variable cost O Average Total Cost could inorease or decrease depending.on what happens to fed cost
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EX 21
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Given Cost and Price (demand) functions C(q) = 110q + 45000 and p(q) = - 2.8q+ 800, what profit can be earned if the price is set to be $550 per item? T 2 The profit is $ 62.50-2,89 29 (Round to the nearest cent.) of C100 o00 ond it costs A company produces a special new tyne of TY Tho nomnonu h