EBK INTERMEDIATE MICROECONOMICS AND ITS
12th Edition
ISBN: 9781305176386
Author: Snyder
Publisher: YUZU
expand_more
expand_more
format_list_bulleted
Question
Chapter 1A.3, Problem 1MQ
A
To determine
To find: the value of X when Z is reduced from 9 to 3 and Y is equal to 3.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
The marginal cost of producing the xth box of light bulbs is 4 +
x2
dollars per box. Determine how much is added to the total cost by a change in production from x = 20 to x = 80 boxes.
1,000
The demand function for a tablet is given by the model P= 200-16x2 where p is measured in dollars per tablet and x is measured in millions of tablets. If it costs $50 to produce each tablet and a profit of $125 million was derive when 2.5 million tablets were produced. Derive the number of tablets that the company could sell to make the same amount of profit?
A company produces and sells a consumer product and is able to control the demand for the product by
varying the selling price. The approximate relationship between price and demand is p= 200-0.05D
where p is the price per unit in dollars and D is the demand per month. The company is seeking to
maximize its profit. The fixed cost is $15000 per month and the variable cost is $50 per unit.
a. What is the number of units that should be produced and sold each month to maximize profit?
b. What is the domain of profitable demand during a month?
Show your spreadsheet.
Chapter 1A Solutions
EBK INTERMEDIATE MICROECONOMICS AND ITS
Knowledge Booster
Similar questions
- Answer in 30 minutes...arrow_forwardA used car dealership rents 210 cars for $9 a day. They want to increase the price to maximize their profits. They notice that if they increase the price by $1.25 that they have fewer rentals. Create an equation for profit for the car dealership rental sales. Determine the price of the rental that maximizes profitarrow_forwardFind the total revenue generated if price is $30 and output sold is 66 unitsarrow_forward
- To produce the next popular toy, a company has to pay a factory $250, 000 to set up the production line. They also have to pay $25 per item for the raw materials and labor. Write function for the average cost to produce x items. Then describe what happens to the average cost as the factory produces a large number of toys.arrow_forwardIs it possible to also get the graph for this problem?arrow_forwardGiven the input-output matrix below, find the output matrix if final demand changes to 600 for water, 180 for electric power, and 700 for agriculture. Industry Electric Power Water 120 Agriculture Final Demand 240 320 160 Water 480 270 Electric Power Agriculture Other Industry: 60 120 170 400 180 240 240 360 80 The output matrix is X=. (Round to two decimal places as needed.)arrow_forward
- As a producer and seller of some commodity, you have learned that, if you produce and sell x itmes in a particular month, the following functions can be used to find the cost and revenue: Revenue: R(x)=150x-x^2 and Cost: C(x)=3000+20x. (a) Write a simplified formula for your profit in a particular month, P(x)=R(x)- C(x) (b) Find the "break-even" point(s) (c) How many items should you produce and sell in a month in order to achieve a maximum profit? (d) What is the maximum possible monthly profit? This is the problem and I cannot solve the c and d, could you please help me?arrow_forwardThe profit of a company, in dollars, is the difference between the company's revenue and cost. The cost, C(x), and revenue, R(x), are functions for a particular company. The x represents the number of items produced and sold to distributors. C(x)=-2300+40x R(x)=840x-x² a) Determine and simplify the profit function. Write your answer in descending order. P(X)-arrow_forwardBen's swim coach estimates that his time, t, in the 100-yard butterfly at a big upcoming meet as a function of the number of yards he swims per week, y, is t = 50+8e-0.00005y Based on this production function, his coach also estimates that if Ben swims 20,000 yards per week, his time will be 52.94 seconds, and he will finish tenth place. If he swims 40,000 yards per week, his time will be 51.08 seconds, and he will come in third. If he swims 60,000 yards per week, his time will be 50.40 seconds, and he will win the meet. Use calculus to determine Ben's marginal productivity of time given the number of yards he practices. Is there diminishing marginal productivity of practice yards? Ben's marginal productivity of swim time given y practice yards (MP) is (Properly format your expression using the tools in the palette. Hover over tools to see keyboard shortcuts. E.g., a superscript can be created with the ^ MPy character.)arrow_forward
- Given the two machines' dataarrow_forwardUse the equations for the total cost C and total revenue R to find the number x of units a company must sell to break even. (Round to the nearest whole unit.) C = 8950x + 220,000, R = 9857xarrow_forwardProfit The profit for a product is given by P(x) =19x - 5060, where x is the number of units producedand sold. Find the marginal profit for the product.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you