Assume demand is given as P $2500-$25Q. The firm has a fixed cost of $3000 and variable costs of $2000 +$1.50 2A. Write out the firm's total revenue equation. B. Determine the Q value(s) where TR 0. Determine the Q value where TR is maximum. C. Write out the firm's total cost function. D. Determine the firm's breakeven point(s)
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- Suppose the marginal cost and marginal revenue (in ¢000) for a product produced by a company is estimated to beMC=q+35 MR=560+22q−q2Where q is the quantity produced and the firm’s break-even is 5 units per weekYou are Required to1. determine the total cost and the total revenue function in terms of q.2. estimate the output at which profit is maximize3. calculate the maximum profitSuposse a munufacture of widgets has a fixcost of $2500, a variable cost of $30 per widget ans sell 100 widgets for 4,500. Find the cost function C(n) Find the revenue function R(n) Find the profit function P(n)Calculate the Economic profit if revenue is $6000 , explicit cost is $500 and the implicit cost is $2000
- 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? U The profit is $ 1,?9 (Round to the nearest cent.) A company produces a special new type of TV. The company has fixed costs of $499,000, and it costs STT00 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. Assumo a linear demand. What is the marginal profit if 200 TVs are produced It is $ 0 per item. (Round answer to nearest dollar.)At its best possible output level, a firm has total revenue of Rs. 7000 per day and total cost of Rs. 14000 per day. What should this firm do in the short run if: 10 (Hint: See normal and abnormal loss) The firm has total fixed cost of Rs. 6000 per day? The firm has total variable cost of Rs. 6000 per day?= 40q – 12q² and its where q is the firm's output. (b) The total revenue curve of a firm is R(q) 400 average cost A(q) q² – 12.85q + 20 + i. Derive an expression C(q) for the firm's total cost function. ii. Derive an expression II(q) for the firm's profit function. iii. Is the rate of change of profit increasing or decreasing when the ouput level of the firm is 10 units? iv. Determine the level of output for which the firm's profit is maximized. v. What is the firms's maximum profit?
- A company produces very unusual CD's for which the variable cost is $ 15 per CD and the fixed costs are $ 50000. They will sell the CD's for $ 79 each. Let a be the number of CD's produced. Write the total cost C as a function of the number of CD's produced. C =$ Write the total revenue R as a function of the number of CD's produced. R=$ Write the total profit P as a function of the number of CD's produced. P=$ Find the number of CD's which must be produced to break even. The number of CD's which must be produced to break even is Question Help: Video Submit QuestionCentral Grocery in New Orleans is famous for its muffaletta, a large round sandwich filled with deli meats and topped with a tangy olive salad. Suppose the following table represents cost and revenue data for Central Grocery. Muffaletta Sold per Day Price (P) Total Revenue (TR) Marginal Revenue (MR) Total Cost (TC) Marginal Cost (MC) Average Total Cost (ATC) Profit 0 $15 $12 1 14 18 2 13 20 3 12 21 4 11 23 5 10 26 6 9 30 7 8 35 8 7 42 9 6 52 10 5 78 Fill in the table What are the profit-maximizing price and quantity, and what…If fixed costs are 4, variable costs per unit are 1 and the demand function isP= 10 - 20Obtain an expression for I in terms of Q and,(a) For what values of Q does the firm break even?(b) What is the maximum profit?
- For a juice shop the total revenue is $1000 and the explicit cost is $320 Calculate Accounting profitA manager must decide how many machines of a certain type to purchase. Each machine can process 100 customers per day. One machine will result in a fixed cost of $2,200 per day, while two machines will result in a fixed cost of $3,700 per day. Variable costs will be $20 per customer, and revenue will be $45 per customer. a. Determine the break-even point for each range. (Round your answers to the next whole number.) One machine Two machines b. If estimated demand is 90 to 120 customers per day, how many machines should be purchased?The figure shows graphs of the total cost function and the total revenue function for a commodity. (Assume cost and revenue are measured in dollars.) y 500 400 300 200 100 MR 10 (a) Label each function correctly. function A ---Select--- function B ---Select--- (x, y): = 20 (b) Determine the fixed costs. $ 30 (c) Locate the break-even point. -([ = 40 50 Determine the number of units sold to break even. units A B 60 (d) Estimate the marginal cost MC and marginal revenue MR. MC = X