Question 1A computer retailing company specializes in the sale of jump drives to community collegestudentsThe demand function for jump drives isp=2x- +10=1000dollarsFor the samne company the average cost function is given as.2+36v-1600 -dollarsWhere pis the price n dollars and x represents units ofiourput.Determine the revenue functionDetermine the cost funetionDetermine the profit functionFind the price and output that will maximıze profir,Find the maximum profit11111)Iv)Ouestio n 2

Given The demand function for jump drives is p=2x2+10x+1000 .........(1) The average…

Question 1 A computer retailing company specializes in the sale of jump drives to community colle students. The demand function for jump drives is p=2+10v+1000 dollars For the same company the average cost function is given as T=2x +36v-1600 - dollars Where p is the price m dollars and x represents units of output. 1) Determine the revenue funetion Determine the cost function Determine the profit funetion 11) 111

Question 1 A computer retailing company specializes in the sale of jump drives to community colle students. The demand function for jump drives is p=2+10v+1000 dollars For the same company the average cost function is given as T=2x +36v-1600 - dollars Where p is the price m dollars and x represents units of output. 1) Determine the revenue funetion Determine the cost function Determine the profit funetion 11) 111

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Please solve this problem? THANK YOU
What is the demand function and cost function based on the set of data below? Price Quantity Profit $50 88 -$240 $25 289 -$240 $80 -$2000 $52 148 $1256 $51 143 $1003 $55 103 $575
A firm has a total cost function C(Q) = 100 + 8Q – 8Q 2 + Q 3 and demand function is Qx d = 33 – 2px Required: (i) Calculate the firm's marginal cost when Q = 5
i need it in words not handwritten
Consider a computer hardware production firm with total cost function TC = 2200+480Q+20Q2, and market demand function Qd = 190 – 2P; Q is output and P is market price. (a) Determine the firm’s Total Cost when it produces 120 units of output. (b) Determine the firm’s Marginal Cost when it produces 120 units of output. (c) Determine the firm’s Average Cost when it produces 120 units of output. (d) Find the market price of the firm’s output when it sells 120 units of output. (e) Determine whether the firm makes profit, or loss, at 120 units of output.
(a) The marginal cost of two firms are given by the following Firm 1: C'(Q) = 300eº.1Q+2 TC= 3000 when Q = 0 Firm 2: C'(Q) = 41 +30Q -5Q² TC =400 when Q = 0 (i) What is the fixed cost for each firm
In the market for foam fire retardant there is only one firm. The demand func-tion for the product is Q = 15,000 – 10P where Q is the annual sales quantity in tons and P is the price per ton. The firm’s total cost function (in dollars) is C = 1,400,000 + 300Q + 0.05Q2.a) How much foam fire retardant should this firm produce and sell in order to maximize its profit? What price should it charge?b) Compute the firm’s total profit.c) Suppose now that the firm faces a 20% increase in variable costs. Determine what impact this will have on the firm’s optimal choice.
PLEASE IN DETAILS
Given the following demand and cost functions: Demand: p = 3000 - 2x Cost: C = 1200x + 2600 Find the x units which produces the maximum profits.
PakPerfect Inc. estimates equation of its total costs of production as TC = 500 + 10Q + 5Q2 and market demand for its product as Qd = 105 – (1/2) P, where Q is quantity in units and P is price in Pak$. Write the equations of the firm’s costs, as a function of Q: Average Total Cost ATC Average Variable Cost AVC Average Fixed Cost AFC Given above costs can you determine what will be the firm’s production in Stage 1? What is the breakeven price and breakeven quantity for this firm? What is the shutdown price and quantity for this firm? Draw the firm’s costs in a graph as per your determination in (a). Label the breakeven and shutdown price and quantity using information in (b) and (c) above. Given the market price of Pak$ 50 how many units should the firm produce? how many firms are competing in this market in short-run? How many firms will be in the industry in the long-run? How do you interpret the profit or loss condition of PakPerfect? Use a two-panel graph of the Market and…
(a) The marginal cost of two firms are given by the following | cost Firm 1: C'(Q) = 300e® 1Q+2 TC= 3000 when Q = 0 Firm 2: C'(Q) = 41 +30Q -5Q² TC =400 when Q = 0 (ii, (iii) avee (iv) Find the total cost for producing up to 100 units
The profit function of a good is given by the following: n = -5Q2 + 631Q – 3255 where P is the price of the item and Q is the quantity. Determine the demand function of the good if the variable costs are 14 per item.