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Optimization: Marginal Analysis- Quantity Determination, Profit Maximization

Given the following information, please state your suggestions: 12%

Price                 Quantity           Total Revenue                Total Cost

78                          1                                                                 210

76                          2                                                                 180

72                          3                                                                 160

68                          4                                                                 148

66                          5                                                                 140

64                          6                                                                 136

60                          7                                                                 141

58                          8                                                                 156

56                          9                                                                 188

54                         10                                                                224

50                          11                                                                270

48                         12                                                                320

46                         13                                                                375

a. What will be the quantity that you will suggest to produce for reaching the optimization point (in resource allocation)? 3% Please specify your decision rule and present the number to support your decision (Must show your calculation steps and explain in words and with figures/graphs )- 3%.

b. What will be the profit amount when the resource allocation decision is optimized? 2%

c. Please draw a graph to show your profit, TC, TR, MR and MC 4%

Business Management, Management Studies

  • Category:- Business Management
  • Reference No.:- M93129366
  • Price:- $15

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