A food manufacturer is trying to maximize profit by selling wheat-based cereal (C) and wheat bread(B) with raw wheat (W). The production functions are: Cereal: C = 30WC – 1.5WC2 Bread: B = 63WB – 2WB2 Constraint: WC + WB = 9,820 Profit is $1.00 per box of cereal and $0.50 per pack of wheat bread. There are 9,820 units of raw wheat available. How much wheat should go to the cereal (WC)? Enter as a value. ROUND TO THE NEAREST WHOLE NUMBER.

A food manufacturer is trying to maximize profit by selling wheat-based cereal (C) and wheat bread(B) with raw wheat (W). The production functions are: Cereal: C = 30WC – 1.5WC2 Bread: B = 63WB – 2WB2 Constraint: WC + WB = 9,820 Profit is $1.00 per box of cereal and $0.50 per pack of wheat bread. There are 9,820 units of raw wheat available. How much wheat should go to the cereal (WC)? Enter as a value. ROUND TO THE NEAREST WHOLE NUMBER.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

ChapterB: Differential Calculus Techniques In Management

Section: Chapter Questions

Problem 5E

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A food manufacturer is trying to maximize profit by selling wheat-based cereal (C) and wheat bread(B) with raw wheat (W). The production functions are: Cereal: C = 28WC – 1.5WC2 Bread: B = 66WB – 2WB2 Constraint: WC + WB = 7,058 Profit is $1.00 per box of cereal and $0.50 per pack of wheat bread. There are 7,058 units of raw wheat available. How much wheat should go to the cereal (WC)? Enter as a value. ROUND TO THE NEAREST WHOLE NUMBER.
1 A smartphone repair firm in Boston has a production function for producing phone repairs, q, defined as, — 4 -L1/2K 1/2, where L is labor measured in hours worked, and K is the number of useful tools used in the repair process. The market wage for a phone repairperson, w, is $25 per hour. The tools could be sold at a secondhand market for $4 (r). Find the (variable) cost function:. Submit your answers as a single PDF. Please try and keep solutions tidy.
Q2)Tony Keonte owns a factory that manufactures Eye-Games. His weekly profit (in thousands of dollars) is given by the following function: P(x) = -4x2 + 80x- 300. Where x is the number of Eye-Games sold. a) What is the largest number of Eye-Games that the company can sell and still make profit? (25 points) b) How many Eye-Games will the firm have to produce and sell in order to maximize profit? (25 points)
The manager of Don Teeta Company Limited hires labour (L) and rents capital equipment (K) in a very competitive market. Currently, the wage rate of labour is GH¢2 per hour and capital is rented at GH¢5 per hour, the unit price of the product is GH¢0.75 and total cost of production is GH¢1,000. Suppose the firm’s production function (Q) is as follows: Q = 14K0.5L0.5 + 10 Determine the optimal input usage and the maximum profit.
Road Runner Co is a Pakistani manufacturer making Bicycles. It exports to two markets,Bangladesh and Sri Lanka. Demand for Bicycles in thesetwo markets is given by the following Functions: Bangladesh Q1 = 12 – P1 Sri Lanka Q2 = 8 – P2 Where Q1 and Q2 are respective quantities sold (in thousands) andP1 and P2 are the respective prices (in Pak. Rupees per unit) in the two markets. Total cost function is C = 5 + 2 (Q1+ Q2) b. consider two cases: (i) Company is effectively able to price discriminate in thetwo markets. What will be the total profits? (ii) Suppose the company does not engage in price discrimination. By charging thesameprice in the two markets what are the profit maximizing levels of price,output, and the total profits? c. Analyze, with graphs, the two alternative pricing strategies available to the company.
Road Runner Co is a Pakistani manufacturer making Bicycles. It exports to two markets,Bangladesh and Sri Lanka. Demand for Bicycles in thesetwo markets is given by the following Functions: Bangladesh Q1 = 12 – P1 Sri Lanka Q2 = 8 – P2 Where Q1 and Q2 are respective quantities sold (in thousands) andP1 and P2 are the respective prices (in Pak. Rupees per unit) in the two markets. Total cost function is C = 5 + 2 (Q1+ Q2) A.Determine the company’s total profit function. Also, (i) What are the profit maximizing levels of price and output for the two markets? (ii) Calculate the marginal revenues in each market. B.Now consider two cases: (i) Company is effectively able to price discriminate in thetwo markets. What will be the total profits? (ii) Suppose the company does not engage in price discrimination. By charging thesameprice in the two markets what are the profit maximizing levels of price,output, and the total profits?…
Road Runner Co is a Pakistani manufacturer making Bicycles. It exports to two markets,Bangladesh and Sri Lanka. Demand for Bicycles in thesetwo markets is given by the following Functions: Bangladesh                 Q1 = 12 – P1 Sri Lanka                    Q2 =   8 – P2 Where Q1 and Q2 are respective quantities sold (in thousands) andP1 and P2 are the respective prices (in Pak. Rupees per unit) in the two markets. Total cost function is C = 5 + 2 (Q1+ Q2) (i) Company is effectively able to price discriminate in the two markets. What will be the total profits? (ii) Suppose the company does not engage in price discrimination. By charging the same price in the two markets what are the profit maximizing levels of price, output, and the total profits? (iii) Analyze, with graphs, the two alternative pricing strategies available to the company.
Road Runner Co is a Pakistani manufacturer making Bicycles. It exports to two markets,Bangladesh and Sri Lanka. Demand for Bicycles in thesetwo markets is given by the following Functions: Bangladesh Q1 = 12 – P1 Sri Lanka Q2 =  8 – P2 Where Q1 and Q2 are respective quantities sold (in thousands) andP1 and P2 are the respective prices (in Pak. Rupees per unit) in the two markets. Total cost function is C = 5 + 2 (Q1+ Q2)       a. Determine the company’s total profit function. Also, (i) What are the profit maximizing levels of price and output for the two markets? (ii) Calculate the marginal revenues in each market.
Road Runner Co is a Pakistani manufacturer making Bicycles. It exports to two markets,Bangladesh and Sri Lanka. Demand for Bicycles in thesetwo markets is given by the following Functions: Bangladesh                 Q1 = 12 – P1 Sri Lanka                     Q2 =   8 – P2 Where Q1 and Q2 are respective quantities sold (in thousands) andP1 and P2 are the respective prices (in Pak. Rupees per unit) in the two markets. Total cost function is C = 5 + 2 (Q1+ Q2) Determine the company’s total profit function. Also, (i) What are the profit maximizing levels of price and output for the two markets? (ii) Calculate the marginal revenues in each market. Now consider two cases: (i) Company is effectively able to price discriminate in thetwo markets. What will              be the total profits? (ii) Suppose the company does not engage in price discrimination. By charging thesameprice in the two markets what are the profit maximizing levels of price,output, and the total profits?…
2) The owner of a restaurant that you are thinking of purchasing, tells you for x customers per week the weekly cost and revenue in dollars is C(x) = 15000+2x and R(x) = 500x-3x² a) Find the profit function P(x) b) Find the break-even quantities rounding properly to a whole number. (Hint: Use the Quadratic formula) c) Why is the minimum break-even quantity important?
Road Runner Co is a Pakistani manufacturer making Bicycles. It exports to two markets,Bangladesh and Sri Lanka. Demand for Bicycles in thesetwo markets is given by the following Functions: Bangladesh Q1 = 12 – P1Sri Lanka Q2 = 8 – P2 Where Q1 and Q2 are respective quantities sold (in thousands) andP1 and P2 are the respective prices (in Pak. Rupees per unit) in the two markets. Total cost function is C = 5 + 2 (Q1+ Q2) Required. Determine the company’s total profit function. Also, (i) What are the profit maximizing levels of price and output for the two markets? (ii) Calculate the marginal revenues in each market.? 2. Now consider two cases: (i) Company is effectively able to price discriminate in the two markets. What will be the total profits? (ii) Suppose the company does not engage in price discrimination. By charging thesameprice in the two markets what are the profit…
11.2 The cost of producing x teddy bears per day at the Cuddly Companion Co. is calculated by their marketing staff to be given by the formula C(x) = 100 + 36x − 0.01x2. (a) Find the marginal cost function C'(x). C'(x) = Use it to determine how fast the cost is going up (in $) at a production level of 100 teddy bears. $ per teddy bear Compare this with the exact cost of producing the 101st teddy bear (in $). The cost is increasing at a rate of $ per teddy bear. The exact cost of producing the 101st teddy bear is $ . Thus, there is a difference of $ . (b) Find the average cost function C, and evaluate C(100) (in $). C(x) = C(100) = $ per teddy bear What does the answer tell you? The average cost of producing the first hundred teddy bears is $ per teddy bear.