Suppose the company lacks confidence in the accuracy of cost estimates expressed in a cubic equation and simply wants to use a linear approximation. Suggest a linear representation of this cubic equation. What difference would it make on the recommended profit-maximizing and revenue-maximizing prices

Q: PakPerfect Inc. estimates equation of its total costs of production as TC = 500 + 10Q + 5Q2 and…

A: Given, Total cost  (TC) = 500 + 10Q + 5Q2 Market demand Qd = 105 - (1/2)P Here, Q is  the Quantity…

Q: Find total revenue if the price function is  P=4Q-500

A: Given: Price function is: P=4Q-500 Where, P is the price of a good Q is quantity of a good

Q: Suppose a company has fixed costs of $36,000 and variable cost per unit of +222 dollars, where x is…

A: Since you have posted a question with multiple sub-parts, we will provide the solution to only the…

Q: Use the following information to create a standard cost card for production of one photography drone…

A: Cost is the sum of the resources—including time, money, materials, and labor—used to create a good…

Q: So that a firm break even  fixed cost $30,000 price=$8.90 variable cost per unit (avc)=7.40

A: Break-even point is where the total cost is equal to total revenue. It is the point where the firm…

Q: What will be the value of explicit cost of Rajan if the total revenue generated by him is $1300 and…

A: The information being given is :- We are given with the total revenue and accounting profit values…

Q: where is the explanation of the new optimal profit if total costs rise to $353?

A: According to Bartleby guidelines we answer only one question per session and hence the last tutor…

Q: If a firm has fixed costs of $4000 when it produces 10 units, then when it produces 11 units its…

A: "When a business or a firm produce goods or services then it incurs costs of production. In the…

Q: If Country A and Country B have the same population size, then the standard of living in these two…

A: “Since you have posted multiple questions, we will provide the solution only to the first question…

Q: A division of Chapman Corporation manufactures a pager. The weekly fixed cost for the division is…

A: The goal of every firm is to maximize its profits. Profits are the excess of revenue receipts over…

Q: Given the average cost function as below, find the MC function. * AC=Q²-40+174 A) 20-4 B) 20-4+174…

A: “Since you have posted multiple questions, we will provide the solution only to the first question…

Q: ABC Company Limited is a new business established to produce tables (in units). The demand function…

A: Profit maximizing quantity is such quantity where marginal revenue is equal to marginal cost.

Q: The average total cost of producing electronic calculators in a factory is $26 at the current output…

A: Average total cost is the total of all production costs divided by the amount of output produced. It…

Q: A call center in India used by U.S. and U.K. credit card holders has a capacity of 1,500,000 calls…

A: Breakeven quantity of call will occur when  Total revenue = Total cost

Q: ng started signment you will be working with models for price, revenue, cost and profit for a small…

A: A cost function is a formula that predicts the cost that will be incurred at a certain level of…

Q: A company manufactures and sells x cellphones per week. The weekly price-demand and cost equations…

A: Demand signifies the amount of a particular commodity or service that individuals are inclined to…

Q: Laramie Company has a variable cost ratio of 0.30. The fixed cost is $176,400 and 21,000 units are…

A: The selling price per unit is the basis when computing the total sales revenue. This amount is…

Q: Find total revenue if price per unit is $300 and the output is 19 units

A: The given information is as follows:- Price per unit = $300  Output sold = 19 Units  Total revenue…

Q: A company estimates that the relationship between unit price and demand per month for a new product…

A: Given, p=$100-$0.10DFixed cost = $15,972 per monthvariable cost = $ 45 per unit

Q: Assume that the operation has the cost function C(O) = 200 - 30 - 80- 40 and the marginal cost…

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: The Cost and revenue funchon of a firm is given as /C=18+7Q+iOQ²+5Q3 and P = 1500Qt 3Q" ⑦Identify…

A: The cost function will include the fixed cost and variable costs. It will be shown as TC = FC + VC…

Q: A study of 86 savings and loan associations in six northwestern states yielded the following cost…

A: A cost function is a functional relationship between cost and output.It can be expressed as, where C…

Q: A call center in Pakistan used by U.S. and U.K. credit card holders has a capacity of 1,500,000…

A: Break even point of any firm is derived at the point where total revenue matches the total cost,…

Q: Acme Distributors has an annual demand for an airport metal detector of 1,575 units. The unit cost…

A: When more goods or materials are purchased, a customer is given an incentive called a quantity…

Q: A firm notices that when it increases output beyond an initial level �1,average total cost…

A: Economies of scale can be described as the cost advantages that a firm can get when the firm…

Q: For the cost function C0) = 75 - 40- 202 the marginal cost of producing 5 units of outout

A: Economics is a branch of social science that describes and analyzes the behaviors and decisions…

Q: The marginal cost function for a company is given by C'(a) = q²-17q+70 dollars/unit, where q is the…

A: 1. Find the Total Cost Function:We are given the marginal cost function:C'(q) = q² - 17q + 70To find…

Q: Find total revenue if the price function is  P=70Q-500

A: Price function is: P=70Q−500 Where, P is the price of a good Q is quantity of a good

Q: For a company that manufactures wooden furniture the fixed costs is $900,000 per month. The variable…

A: A variable cost is a corporate expense that changes in proportion to how much a company produces or…

Q: You start crearing personaize hone cases. Suppose the quantity of cases demanded each month is…

A: (a) The average (AC) costs refer to per unit cost of production. It is obtained by dividing total…

Q: What will be the accounting profit of the firm if the total revenue is $1020 and the explicit cost…

A: The information being given is :- Total revenue of the firm = $1020 Explicit cost = $350  We have to…

Q: Problem One: The fixed cost for a company is 1200 OMR and the variable cost is 2 OMR per 100 unit.…

A: Given  Fixed cost = 1200.  Variable cost = 2 per unit.  Demand function: p = 100/√x.  The company…

Q: MC = 10q, ATC = 10/q+ 5q, AVC = 5 q, AFC = 10/q I would like to know how to plot them(in graph) in…

A: Cost curves are the curves that show the different amount of money incurred in producing different…