Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Business Economics Expert

The demand for the product is p = 70-0.7x where x is the quantity for the item sold a $p dollars per piece. Determine the revenue function and the domain of the function. What price should the company charge to obtain the largest revenue? What is the maximum revenue? Find the marginal revenue function. Find the marginal revenue function evaluated at x = 20. Taking into account storage and shipping, it costs p = C(x) = 100 + 11.25x dollars to sell x of the product. Find the average cost function and the marginal average cost function. Explain the difference between the two. Find the cost, average cost, and marginal average cost for 20 items. Explain the difference in meaning of these values. Find the profit function. Explain how you found the profit function. What price should the company charge to get the largest profit? How did you determine this price? What is the maximum possible profit? How do you know for sure the profit is maximized? By comparing the price you obtained for maximum revenue with the price you obtained for maximum profit, please explain any difference between the two and the reason for the difference. You must show all work using calculus techniques.

Business Economics, Economics

  • Category:- Business Economics
  • Reference No.:- M91870480

Have any Question?


Related Questions in Business Economics

If the united were to become more aggressive in trying to

If the United were to become more aggressive in trying to control global thermal warming would this cause extensive economic problems?

Could you please help me to solve the following economics

Could you please help me to solve the following economics question? "Universal Studios has decided to open a new theme park called Universal Studios Indiana. It will feature the usual attractions other Universal Studios ...

The diet doctor claims that the average north american is

The diet doctor claims that the average North American is more than 20 pounds overweight. To test his claim, a random sample 30 Of north Americans was weighted, the difference between their actual weight and their ideal ...

Use the following information to answer the next eight

Use the following information to answer the next eight exercises. Groups of men from three different areas of the country are to be tested for mean weight. The entries in the table are the weights for the different group ...

The demand fornbspbedspreadsisnbsppnbspnbsp150-4qdthe

The demand for bedspreadsis  P ? = 150-4 QD . The supply of bedspreads is  P ? = 125+5 QS . What is the equilibrium price of a bedspread and what is the equilibrium quantity of bedspreads?? The equilibrium price is ?$ () ...

A recent study revealed that 60 of employees use their

A recent study revealed that 60% of employees use their smart phone during work hours for non-work related purposes. Suppose you randomly observe 100 employees and record whether the employee is using their phone for non ...

Research research and sample 5000 household concerning tv

Research research and Sample 5000 household concerning TV shows they watch. Based on the sample 18% reported watching 60 Minutes. What is the 95% confidence interval for the proportion of all Americans that watch 60 minu ...

Briefly explain the meaning of the t-test for regression

Briefly explain the meaning of the t-test for regression analysis. How can the "rule of two" be used to evaluate t-ratios?

You take out earthquake insurance on your homenbspthe

You take out earthquake insurance on your home. The annual premium is $600. In case of an earthquake the company will pay you $400,000. The probability of an earthquake in your area is 0.0002.  What is the expected value ...

There are certain coins that can sometimes have the weight

There are certain coins that can sometimes have the weight that are Normally distributed with a mean of 5.207 g and a standard deviation of 0.053 g. Now, a vending machine is configured to accept those coins with weights ...

  • 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

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As