Given, Q1 = (6457/36) - (P1/36) Q2 = (8246/38) - (P2/38) TC = 2073 + 26Q1 + 13Q2 Form the profit equation, t and solve for the critical values. (a) What is the critical value of Q1? (b) What is the critical value of Q2? (c) What is the value of |H2|? (d) What is the value of maximum profit? (e) Based on the value of |H2|, comment whether profit(t) is maximised or minimised
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- Q1 = (4437/32) - (P1/32) Q2 = (7961/35) - (P2/35) TC = 1045 + 12Q1 + 18Q2 Form the profit equation, π and solve for the critical values. (a) What is the critical value of Q1? (Give your answer to two decimal places, if necessary) unanswered (b) What is the critical value of Q2? (Give your answer to two decimal places, if necessary) unanswered (c) What is the value of |H2|? (Give your answer to two decimal places, if necessary) unanswered (d) What is the value of maximum profit?Drives Co. sells portable hard drives. They can sell 600 drives when the price is $75/drive, and they can sell 720 drives when the price is $45/drive. If x represents the number of drives sold, determine the following. (a) What is Drive Co.'s revenue function? R(x) =_ (b)What is the price per drive (in dollars) when revenue is maximized? _ (c) What is the maximum profit (in dollars) made from the sale of these drives if Drive Co. incurs production costs of $165 per drive and has fixed costs of $625? $_15 x+1160 dollars, where x is the total number of units produced. Suppose further that the selling price of its product is 16 Suppose a company has fixed costs of $4000 and variable costs per unit of 1. 1300 x dollars per unit. 16 (a) Find the break-even points. (Enter your answers as a comma-separated list.) (b) Find the maximum revenue. $. (c) Form the profit function P(x) from the cost and revenue functions. P(x) = %3D Find the maximum profit. $4 (d) What price will maximize the profit? (Round your answer to the nearest cent.) %$4 Need Help? Read It Watch It
- ect of the utility commission's ruling on the profitability of the firm? 15 A company estimates that the demand for its product fluctuates with the price it charges. The demand function is q = 280,000 – 400p where q equals the number of units demanded and p equals the price in dollars. The total cost of producing q units of the product is estimated by the function C = 350,000 + 300q + 0.0015q? (a) Determine how many units q should be produçed in order to maximize annual profit. (b) What price should be charged? (c) What is the annual profit expected to equal? 16 Solve the previous exercise, using theAleesya Travel & Tours' has recently launched a new travel package to Bali, Indonesia. The total cost of producing x packages is described by the function C = 2x - 150OX + 5000 and the estimated total revenue is given as R -3x +200x. Both Cand R are measured in hundreds of RM and x is the number of travel packages in hundreds as well. How many packages should be prepared and sold in order to maximize the profit? on Select one: a. 3670 b. 2500 c. 3500 d. 4100Q1 = (8358/34) - (P1/34) Q2 = (4558/17) - (P2/17) TC = 2530 + 8Q1 + 48Q2 Form the profit equation, π and solve for the critical values. (a) What is the critical value of Q1? (Give your answer to two decimal places, if necessary) (b) What is the critical value of Q2? (Give your answer to two decimal places, if necessary) (c) What is the value of |H2|? (Give your answer to two decimal places, if necessary) (d) What is the value of maximum profit?
- A company produces and sells a consumer product and is ableto control the demand by varying the selling price. The approximate relationship between price and demand is p = 38+ (2,700/D) - (5000/D²) for D>1 The company is seeking to maximize its profit. The fixed cost is $1,000 and the variable cost is $ 40 per unit. What is the number of units that should be produced and sold each month to maximize profit? A 71 B 60 с 50 D 25show solution An oil refinery produces one base type of crude oil. The total cost is given by the equation Total Cost, TC = 50,000+20.2D +0.0001D2. The sales price in dollars per barrel is 35. At what level of production in barrels/week is cost/barrel minimum? What is the minimum cost per barrel? What is the maximum weekly profit that the company can make? At what level of production is the maximum weekly profit attainable? and Over what range of production is profit possible? Express answers in whole numbers and write the numerical values only.A large wood products company is negotiating a contract to sell plywood overseas. The fixed cost that can be allocated to the production of plywood is $800,000 per month. The variable cost per thousand board feet is $155.50. The price charged will be determined by p=$600−(0.05)D per 1,000 board feet. a. For this situation, determine the optimal monthly sales volume for this product and calculate the profit (or loss) at the optimal volume. b. What is the domain of profitable demand during a month?
- If company A manufactures t-shirts and sells them to retailers for US$9.80 each. It has fixed costs of $2625 related to the production of the t-shirts, and the production cost per unit is US$2.30. Company B also manufactures t-shirts and selll them directly to consumers.The demand for its product is p = 15 −x 125, its production cost per unit is US$5.00 and its fixed cost are the same as for company A . (i) Derive the total revenue function, R(x) for company A. (ii) Derive the total cost function, C(x) for company A. (iii) Derive the profit function, Π(x) for company A. (iv) Using a spreadsheet, create a table for showing x, R(x)?, C(x) for company A in the domain x = 50, 100, 150, 200, 250, 300, 350, 400, 450.(v) Graph the functions from (d) above on the same axes. (vi) From your graph, determine the break-even level of output for company A. (vii) Derive the total revenue function, R(x) for company B. (viii) Derive the profit…1. A large wood products company is negotiating a contract to sell plywood overseas. The fixed cost that can be allocated to the production of plywood is $600,000 per month. The variable cost per thousand board feet is $125.50. The price charged will be determined byp = $550 – (0.4)D per 1.00 board feet. a. For this situation, determine the optimal monthly sales volume for this product and calculate the profit (or loss) at the optimal volume. b. What is the domain of profitable demand during a month?A trailer manufactor has multiple products designed to be towed by a pickup (Ford F-150, Toyota Tacoma, etc). The production of one of their products - the XL7 5x10 trailer - referred to as XL7510 here, has a fixed 9 cost of $62,308 and a variable cost per unit of XL7510 equal to 202 + - dollars, where is the total 10 number of XL7510s produced. Suppose further that the selling price of this product is 1118 The x-values of the break-even points are The maximum revenue is Form the profit function: P(x) = = The maximum profit is The price that will maximize profit is 1 - dollars per unit of XL7510. 10 dollars (round to the nearest cent) dollars (round to the nearest cent)