At what level of output are total profit maximized., Ask an Expert

Economics

Q. The Zinger Company fabricates as well as sells a line of sewing machines. Demand per period (Q) for a scrupulous model is given by the following relationship:
Q = 400 - .5P where P stands for price. Total costs (including a "normal" return to the owners) of producing Q units per period are:
TC = 20,000 + 50Q + 3Q R3
a) Express total profits (π) in terms of Q.

b) At what level of output are total profit maximized? Illustrate what price will be charged? At this output level what are total profits?

a) What model of market pricing has been assumed in this problem? Validate your answer.

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M9157467

Have any Question?Write your Review or question?

Related Questions in Business Economics

The researchers stated that there were no significant

The researchers stated that there were no significant differences in the baseline characteristics of the intervention and control groups. Are these groups heterogeneous or homogeneous at the beginning of the study? Why i ...

You are given the sample mean and the population standard

You are given the sample mean and the population standard deviation. Use this information to construct the 90% and 95% confidence intervals for the population mean. A random sample of 44 gas grills has a mean price of ...

You are a division manager at bmw you estimate the

You are a division manager at BMW. You estimate the semiannual demand for model X3 is: Q=150,000-1.5P What price should you charge in order to maximize the revenues from sales of model X3? Explain.

What is equi-marginal principle why does it have to be true

What is Equi-marginal principle? Why does it have to be true at interior optimum?

How can local the local government help prepare employees

How can local the local government help prepare employees for higher level positions in the organization.

What is the factors that determine wages which are largely

What is the factors that determine wages which are largely responsible for determining how the economy's total income is distributed among the various members of society?

When we look at the ease to enter the different market

When we look at the ease to enter the different market structure, there is no doubt that 'monopoly' is the hardest. Why? -- There is only ONE firm that has established 'economies of scale' with the production of their go ...

What type of exchange rate is associated with a higher

What type of exchange rate is associated with a higher probability of experiencing a crisis? Why?

Explain a situation using the supply and demand for skilled

Explain a situation using the supply and demand for skilled labor in which the increased number of college graduates leads to depressed wages. Given the rising cost of going to college, explain why a college education wi ...

Model this situation using a game tablehawk and dovenbsptwo

Model this situation using a game table. Hawk and Dove: Two animals are fighting over some prey. Each can be passive or aggressive. Each prefers to be aggressive if the other is passive, and passive if the other is agg ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert