[Select all that apply] Let the cost of producing a books be 100+ x and a price - demand equation be + p (a.) P(x)= 100 + z (b.) P(x) = (800 - x) - (100+ x) (c.) P(x)= x (800z) (100+ x) (d.) P(x) Oc Ob U 0 d a - (800x) (100+ x) - (100+)
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- 2. The relationship between price and demand per month for a consumer product is p = 3500 -1.1D5 where p is the price per unit in dollars and D is the demand in units. The fixed cost is $300 per month and the variable cost is $4.00 per unit. What is the optimal number of units that should be produced and sold per month? a. b. What is the maximum profit per month?(a) At what output is the firm’s profit maximised and How much profit is made at this output? (b) Draw the total profit TΠ curve over the range of output where positive profit is made. (d) How much is total fixed cost, At what output is the price elasticity of demand equal to -1 and At what outputs does the firm break even?The following graph illustrates the weekly demand curve for motorized scooters in Roanoke. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per scooter) 260 240 220 200 180 160 140 120 100 80 60 40 20 0 0 9 18 27 A X B Demand 36 45 54 63 72 81 QUANTITY (Scooters) 90 99 108 117 Total Revenue ?
- 1. The cost function for a commodity is given by C(x) - 200+12x+0.1x² (S) and the demand funct is p-300-0.02x ($/unit) where x- quantity (demanded and produced). (a) What is the profit function for this commodity? (b) Find the marginal profit function. (c) What is the marginal profit when x-10?! (d) What does this marginal profit tell you? (e) Find the level of demand at which profit is a maximum. Show how you do this using calculus. (1) What is the maximum profit, and what is the selling price that realizes this profit? Ans: R(x)-300x-0.02x², P(x)=-0.12x² +288x-200, P'(10) - 285.6 (S), approximate increase in profit from selling one more unit when sales are at 10 units, solving P'(x)-0 gives max at unit. x-1200 units, max profit - $172,600, price = 300-0.02(1200)-$276 perA company has established that the relationship between the sales price for one of its products and the quantity sold per month is approximately p=75-0.1D (D is the demand or quantity sold per month and p is the price in dollars). The fixed cost is $1,700 per month and the variable cost is $20 per unit produced. a. What is the maximum profit per month for this product? b. What is the range of profitable demand during a month?A company has established that the relationship between the sales price for one of its products and the quantity sold per month is approximately p=75-0.1D (D is the demand or quantity sold per month and p is the price in dollars). The fixed cost is $1,000 per month and the variable cost is $30 per unit produced. a. What is the maximum profit per month for this product? b. What is the range of profitable demand during a month? a. The maximum profit per month for this product is S (Round to the nearest dollar.) b. The range of profitable demand during a month from units to units. (Round up the lower limit and down the upper limit to the nearest whole number.)
- A company has established that the relationship between the sales price for one of its products and the quantity sold per month is approximately p=60-0.1D (D is the demand or quantity sold per month and p is the price in dollars). The fixed cost is $2,000 per month and the variable cost is $20 per unit produced. a. What is the maximum profit per month for this product? b. What is the range of profitable demand during a month? COLL a. The maximum profit per month for this product is $. (Round to the nearest dollar.) BOX AISituation: Lettuces and strawberries have almost doubled in price, and the produce rep says this will likely be the case for a few months until the market can recover. What are you likely to see over the next one to two months as far as food cost?Lukanga Water has been providing water services in the Central Province for more than 20 years. Business analysts estimated the demand for water is P 40- 5Q, where Q is the number of clients served (in thousands) and P is the price charged (in millions of Kwacha). Lukanga Water total costs are determined as TC = 10 - 0.75Q. (a) How much is the profit maximizing level of output? (b) How much is Price at profit maximizing level of output? (c) Calculate the Profit level.
- The following graph illustrates the weekly demand curve for motorized scooters in Madison. Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve. Note: You will not be graded on any changes made to this graph. PRICE (Dollars per scooter) 325 300 275 250 225 200 175 150 125 100 75 50 25 0 0 10 A + 20 30 X B Demand 40 50 60 70 80 QUANTITY (Scooters) 90 100 110 120 130 Total Revenue ?(a) How many vacuums are supposed to be sold to achieve break even? (b) If Primark wants to earn a profit of $36,000, how many vacuum must be sold?PRICE (Dollars per room) 500 450 400 350 300 250 200 150 100 50 0 0 Demand + 50 100 150 200 250 300 350 400 450 500 QUANTITY (Hotel rooms) Graph Input Tool Market for Oceans's Hotel Rooms Price (Dollars per room) Quantity Demanded (Hotel rooms per night) Demand Factors Average Income (Thousands of dollars) Airfare from DSM to ACY (Dollars per roundtrip) Room Rate at Meadows (Dollars per night) 300 200 40 200 rooms per night to ,hotel rooms at the Oceans and hotel rooms at the Meadows are 200 For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Oceans is charging $300 per room per night. If average household income increases by 50%, from $40,000 to $60,000 per year, the quantity of rooms demanded at the Oceans rooms per night to rooms per night. Therefore, the income elasticity of demand is Oceans are ? from meaning that hotel rooms at the If the price of a room at the Meadows were to decrease by 20%, from $200 to $160,…