7. Suppose that the profit from the production and sale of x units of a product is given by p(x) = 180x 200. 100 In addition, suppose that for a certain month, the number of units produced on day t of the month is x = q(t) = 1000 + 10t. a) Find (p q)(t) to express the profit as a function of the day of the month.
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- Define the following wordsA manufacturer produces bolts of a fabric with a fixed width. The quantityqof this fabric(measured in yards) that is sold is a function of the selling pricep(in dollars per yard), sowe can writeq=f(p). Then the total revenue earned with selling pricepisR(p)=pf(p).13. A company finds that it can sell out a certain product that it produces, at the rate of Tk. 2 per unit. It estimates the cost function of the product to be Tk. 100 오 2 50 for q units produced. (i) Find the expression for the total profit, if q units are produced and sold. (ii) Find the number of units produced that will maximize profit. (iii) What is the amount of this maximum profit? (iv)What would be the profit if 6000 units were produced?
- Define the followingUse a graphing calculator to graph a break-even chart. Choose the correct answer below. OA OB E Crno Q Q G C (All graphs have a viewing window such that q ranges from 0 to 15 with a scale of 1 and y ranges from 0 to 70 with a scale of 7.) The break-even quantity (in thousands) is q -0. (Round to one decimal place as needed. Use a comma to separate answers as needed.). D. SUthe numbers inputed on the graph are correct so far
- Cost curves Egidio Binaccio designed an ancestry app that allows people to connect with long lost Italian relatives. Egidio notices the following relationship between the number of hours he schedules and the number of downloads (sales) he gets. Below is a production function, for Egidios current company set up. NUMBER of LABOUR DOWNLOADS HOURS B) 10 C) 20 30 40 50 60 70 80 90 100 110 120 130 140 6.50 11.00 14.50 17.50 20.50 23.75 27.50 32.00 37.50 44.50 53.50 65.00 79.50 97.50 TVC TC MC AVC Suppose the firm can hire all the labour it would ever want at the going wage of $8 per labour-hour. The firm's total fixed costs are $64 per day. A) ATC Fill in the table showing total variable cost (TVC), total cost (TC), average variable cost (AVC), average total cost (ATC), and marginal cost (MC). [Remember: Marginal cost should be entered midway between rows of output.] On a graph with DOWNLOADS (per day) on the horizontal axis, draw the three "per-unit" cost curves, AVC, ATC, and MC. [Note…What can be concluded from the graph?Complete the table below: Output TotalCost(RM) Totalvariablecost(RM) Totalfixedcost(RM)Averagefixedcost(RM)Averagetotalcost(RM)Marginalcost (RM) 0 505 16010 20020 25036 33058 40072 48088 580106 700130 820150 980