Cost function cq 10 10q q2 where q is the quantity of, Ask an Expert

Economics

Cost function C(q) = 10 + 10q + q^2 where q is the quantity of laundry services provided.

a. If the price of laundry service is 50 units, how much is the optimal quantity of laundry services to maximize profit and what is the maximum profit that Acme Laundry can achieve?

b. The government noticed that laundry services led to increased water pollution in the nearby river and decided to impose a specific tax of 2 units for every quantity of laundry services provided. How much is the optimal quantity of laundry services to maximize profit and what is the maximum profit that Acme Laundry can achieve with the tax?

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M91992463

Have any Question?Write your Review or question?

Related Questions in Business Economics

In a pre-election poll a candidate for district attorney

In a pre-election poll, a candidate for district attorney receives 379 of 750 votes. Assuming that the people polled represent a random sample of the voting population, test the claim that a majority of voters support th ...

A medical researcher is interested in determining whether a

A medical researcher is interested in determining whether a new medication for lung cancer is effective in a group of patients with early-stage disease. Explain what a Type I and Type II error would be in this study. (Be ...

For a population of individuals that has a standard

For a population of individuals that has a standard deviation of 10, what is the standard error of the mean for samples of size (a) 2, (b) 3, (c) 4, (d) 5, (e) 10, (f) 20, (g) 100?

In a survey ofnbsp3153nbspadultsnbsp1407nbspsay they have

In a survey of 3153 adults, 1407 say they have started paying bills online in the last year. Construct a? 99% confidence interval for the population proportion. Interpret the results. A? 99% confidence interval for the p ...

What does the term the ten principles of economics and how

what does the term the Ten Principles of Economics and how it's applied to the consumer buying trends?

Assume student employees at wmu make an average of 12 an

Assume student employees at wmu make an average of $12 an hour with a standard deviation of $3. Assuming these hourly wages are normally distributed. What is the chance a randomly selected student employee makes more tha ...

Use the information on the market for bicycles to answer

Use the information on the market for bicycles to answer the following questions. Demand: P = -125*Q + 540; Supply: P = 150*Q + 210, where P is the price of bicycle and Q is the quantity demanded or supplied of bicycle. ...

A sample of 20 has a mean of 100 and we can use a standard

A sample of 20 has a mean of 100 and we can use a standard deviation of 10. If we test this at an alpha of 0.05? What would be your conclusion and interpretation? How did you arrive at your conclusion?

Four balls are independently projected onto one target the

Four balls are independently projected onto one target, the probability of a hit for each is P1 = 0.1 , P2 = 0.2 , P3 = 0.3 , P4 = 0.4. What are the probabilities P04, P14, P24, P34, P44 that zero, one (1), two (2), thre ...

Suppose that for a given patient the true ef is 63 consider

Suppose that, for a given patient, the true EF is 63. Consider the population of EF values that can be estimated on that patient using option II above. That population follows a normal distribution with μ= 63. Find the p ...

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