The 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) = 2500 + 60x R(x) = 800x - x? a) Determine the maximum profit of the company. The maximum profit of the company is b) Determine the number of items that must be produced and sold to obtain the maximum profit. The number of items that must be produced and sold to obtain the maximum profit is
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- 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.A musical Disc is being produced by a music recording studio, and the company estimates that it will cost $100,000 to record the Disc and $6.75 per unit to duplicate and distribute the Disc. The Disc wholesale cost is $19.95. (a) Find the cost and revenue functions (b) Find the profit function (c) Find the number of Disc’s the company must produce and sell in order to break even (d) Draw a graph with the cost and revenue functions on the same axes, indicating the breakeven point.The 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)-
- Profit 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.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 -0.10 (D is the demand or quantity sold per month and p is the price in doilars). The fbxed 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 is 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=85-0.2D (D is the demand or quantity sold per month and p is the price in dollars). The fixed cost is $1,500 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?
- When x gallons of olive oil are produced, the profit function is given by P(x) = 2x – 1000 (i) Find the value of x that maximizes profit. (ii) Compute maximum profit. 5000Drybar, a hair salon, faces a weekly demand for blowouts equal to qp = 1120 - 20P. The salon has weekly total cost of TC(q)=0.05q² + 20q + 500. (a) The minimum efficient scale (i.e., the quantity that achieves minimum average cost) is__. (b) The weekly marginal revenue for this salon is MR (c) This salon's profit maximizing level of output is__, price is__ (d) When the salon produces at the profit maximizing level, the consumer surplus is__, the producer surplus is__. (e) Suppose the salon can do first-degree price discrimination, consumer surplus is__and producer surplus is_-The profit of a firm during the financial year is $1200 and cost incurred is $600. Find the markup.
- (a) How would one estimate the full cost to an airline if one of its planes is held over for 24 hours in an airport for repair? (b) A company has spent $10 million to develop a product for market. During the product’s first two years, the company’s profit was $6 million. In recent years, the market was flooded by rival products and now the company is reassessing its product. If it abandons the product, it can recover $2 million of its original investment by selling its production facility. If it continues to produce the product, its estimated revenues for successive two-year periods will be $5 million and $3 million and its costs will be $4 million and $2.5 million. (After four years the plant will have zero resale value.) What would be the company’s best course of action? (c) Two decades ago, the global demand and supply curves for copper were: Qd = 15-10P and Qs = -3 + 14P, where Q is measured in millions of metric tons per year. Find the competitive price and quantity. Suppose that…A company produces and sells a consumer product and is able to control the demand by varying the selling price. The approximate relationship between price and demand is 2700 5000 p = 38 + (for D>1) D² The company is seeking to maximize its profit. The fixed cost is $1,000 and the variable cost is $ 40 per unit. What is the number of units and total amount that should be produced and sold each month to maximize profit?Showing your analytical work clearly in a step by step manner is a must. Otherwise points will be deducted. You can use Excel or any other graphing tool. A startup software company has indicated its cost, c(x), and revenue, f(x), as given below, such that x is the number of lines of programing code (units in 1000 lines). c(x) = 80000 - 2(x-200)2 f(x) = (x-10)3 + (x+10)2 Find the marginal cost analytically, and draw its graph Find the marginal revenue analytically, and draw its graph Solve for the x point where marginal cost is equal to marginal revenue analytically. Comment why is this point significant analytically. Write the profit function and draw its graph Is the profit function concave up or concave down? Answer all questions neatly please