The profit derived from producing a certain product is p = 30x -X^2-200 where X = number of product units produced per month . What level of production will yield a zero marginal profit
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The profit derived from producing a certain product is
p = 30x -X^2-200 where X = number of product units
produced per month . What level of production will yield
a zero marginal profit ?
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- The profit function for a certain commodity is P(x) - 190x - x - 1000. Find the level of production that yields maximum profit, and find the maximum profit. units P-$ Need Help? Talk to a Tutor Read t Watch itIIT Ball Bearings Inc. faces costs of production as follows: Quantity Total Fixed Cost Total Variable Cost 100 100 100 100 100 100 100 1 50 70 90 140 200 360 3 4 5 (A) Calculate the company's average fixed costs, average variable costs, average total costs, and marginal costs. (B) The price of a case of ball bearings is $50. Seeing that she can't make a profit, the Chief Executive Officer (CEO) decides to shut down Operations. What are the firm's profits/ losses? Was this a wise decision? Explain. (C) Vaguely remembering his introductory economics course, the Chief Financial Officer Tells the CEO it is better to produce 1 case of ball bearings, because marginal revenue equals marginal cost at that quantity. What are the firm's profits/losses at that level of production? Was this the best decision? ExplainExample of law if Diminishing Returns
- Which software should you purchase in order to save money in the long run, X or M? Satisfaction Not Satisfied 55% • $0 $6,000 Software X 45% • $18,000 Software M $12,000 95% • $0 Satisfaction Not Satisfied 5% • $2,000d Profit(x) dx 9) Find the marginal profit function. 10) How many units should they sell in order to maximize their profits? 11) What price should they charge in order to maximize their profits?How should we develop the firm’s capabilities and focus its efforts
- marginal productNo excelOutput from a process contains 0.02 defective unit. Defective units that go undetectedinto i nal assemblies cost $25 each to replace. An inspection process, which would detectand remove all defectives, can be established to test these units. However, the inspector,who can test 20 units per hour, is paid $8 per hour, including fringe benei ts. Should aninspection station be established to test all units?a. What is the cost to inspect each unit?b. What is the benei t (or loss) from the inspection process?