A firm has found from past experience that its profit in terms of number of units x produced, is given byTP = - +729 3 . Find the value that maximizes the profit. A B 37 27 17
Q: D O private costs will be greater than social costs. O social costs will be greater than private…
A: Externalities are side effects of economic activities which are faced by the third parties who are…
Q: The following Table shows the relationship between fertilizers applica rate in kg per dunum and…
A: Fertilizer = Input = Variable factor Barley = Output = Total Physical Product (TPP) The price of…
Q: Suppose we are considering a Solow Model without technology progress. Population growth rate=0.03…
A: Solow Model: The Solow-Swan model, sometimes known as the exogenous growth model, is a long-run…
Q: 4. In the 1960's the U.S economy faced inflationary pressures. Assume that in 1968 there was an AD…
A: The values being given in the question are as follows:- Excess Aggregate demand is given to be as =…
Q: If the government determines that a natural monopoly must set a price equal to its average cost plus…
A: A natural monopoly is a sort of monopoly that develops as a result of a particular industry's high…
Q: Suppose Dexter is willing to pay $5 for a chocolate bar, Draco is willing to pay $z, and willing to…
A: Consumer surplus is the benefit that is achieved by the consumers whole purchasing goods and…
Q: 1) Discuss some of the complex problems brought by the modern food industry upon agricultural…
A: "Seed: The Untold story" is the beautiful documentary which gives us a beautiful massage about a…
Q: What is the likely outcome if the Fed seeks to maintain a federal funds rate of 0% even when the…
A: The Fed or the central bank of the nation use various monetary tools for the proper functioning of…
Q: If the income elasticity of potatoes is -0.7, then the income effect caused by a price decrease of…
A: In financial matters, the pay elasticity of interest is the responsivenesses of the amount requested…
Q: 1. We have a population of 3, they have the following benefit curves (TB): TB¹ = 3q - 2q² TB² = 2q -…
A: Total Benefit refers to the benefit that a certain public or private good gives or offers to its…
Q: Which of the following will decrease physical capital per worker? O increase in saving in the…
A: Physical capital per specialist is the supply of gear and designs that are utilized to deliver labor…
Q: If you could afford to pay $850 per month for a house mortgage, and you plan on financing it at…
A: Compound interest is usually known to be as the interest which is exactly calculated by multiplying…
Q: In your own words, briefly explain the concept of deadweight loss as it relates to the tax policy
A: Deadweight Loss:- The concept "deadweight loss" is used to explain the discrepancy between a…
Q: Fill in the blanks using the number that corresponds to the correct word or phrase below Labor…
A: Disclaimer- “Since you have asked multiple question, we will solve the first three question for you…
Q: Explain what supplier-induced demand is.
A: Demand is the quantity of an item or service that consumers buy at various prices during a specific…
Q: 1. Suppose that the money market can be depicted in the graph below Interest rate (M/P)2 (M/P)⁰…
A: The federal reserve Conducts the country's financial strategy by affecting cash and credit…
Q: $2.50 $1.50 M 400 500 D Pounds of Chicken (thousands) Between points L and M, the price elasticity…
A: An elastic demand is one in which the change in quantity demanded due to a change in price is large.…
Q: Several policy options have been proposed to encourage more people to be vaccinated against the flu.…
A: This is an example of role of government. Now in this case, we have to identify the marginal social…
Q: List the five factors which can affect the money supply. Consider the changes in each of these five…
A: The money supply alludes to how much money or currency coursing in an economy.
Q: 2. Classify each of the following items as a public good, a private good, a natural monopoly good,…
A: The commodity that is in turn made available for consumption to all the members of the economy are…
Q: Eng. Economic Q1. Would a dollar tomorrow be worth more to you today when interested is 20% or 10
A: Given information: Interest rate = 20% Second interest rate = 10%
Q: Assume that Lucky Bank is required to hold a 10% deposits as reserves, and there is a $3000 increase…
A: The cash multiplier is significant in macroeconomics since it decides the cash supply, which…
Q: 2. Unstable export markets Sometimes the exports of developing nations are concentrated in only one…
A: Market equilibrium is what is happening of the market where the demand for goods and services rises…
Q: 6. A-One bakery in Brampton sells 350 fruit cakes slices each month for $3.25 each. They are looking…
A: Given information: A-one bakery sells 350 fruit cake slices each month for $3.25 each. Each $0.10…
Q: 7. Data for Windsurfing Sail Firm Q = Quantity; FC = Fixed Cost; VC =Variable Cost; TC =Total Cost;…
A: We have given the data for fixed cost and variable cost for the output level from 0 to 7 Q FC VC…
Q: Which of the following is not a source of economic growth? A. appropriate incentive system B.…
A: Financial development or economic growth- estimated as an increment of individuals' genuine pay -…
Q: True or false? The GDP deflator measures prices of a group of products called the "market basket"…
A: The Consumer Price Index measures the overall change in consumer prices over time based on a…
Q: Price P₂ P B Supply+tax K O₂ Q Consumer surplus before the tax Based on the figure above,…
A: The figure shows that a tax is imposed on producers. The supply curve will shift to the left. This…
Q: All countries in the world badly affected by the Covid-19 pandemics not only on health but also in…
A: Various Economies during the pandemic experienced a downfall in all sectors. Economists tried to…
Q: Question 7: Logan has preferences over olives (x₁) and ice creams (x₂). He prefers to eat them…
A: Note:- Since we can only answer up to three subparts, we'll answer the first three. Please repost…
Q: assume your price is equal to marginal cost and marginal cost slopes upwards. in the short
A: Perfect competition is a market in which there are a large number of buyers and sellers, all of whom…
Q: 5. The Role of Government: Quota vs. Tax A. Briefly discuss the advantage of quota vs. tax to limit…
A: Quotas limits the quantity of a goods which are imported from another country or nation. But if we…
Q: Tom spends all his weekly income on two goods, apples and bananas. His utility function is given by…
A: Given Information: U = A0.5 B0.5 Where U is utility A is the quantity of apples. B is the quantity…
Q: An economy produces two goods: tomatoes and ketchup. It is assumed that half of the tomatoes are…
A: Given information: Price of tomatoes in 2014 = $2 Price of Ketchup in 2014 = $7 Price of tomatoes in…
Q: For each of three potential buyers of oranges, the table displays the willingness to pay for the…
A: Introduction The concept of consumer surplus has formulated by Dupuit in 1844. Consumer surplus is…
Q: Based on the following sensitivity report, how much should the firm be willing to pay for 111 more…
A:
Q: Avg. ann. Growth rate 6.3 Cell B Cell C 1.9 years for wealth to double Cell A 29.17 23.33 Cell D 57.…
A: According to Rule of 70: The number of years to double = (70 / Average annual growth rate)
Q: Determine the amount needed now to purchase a machine for P200,000, provide an annualfund of P15,000…
A: Given that, The initial Cost of the Machine = P200,000 Annual Cost of the Machine = P 15,000…
Q: A producer has the possibility of discriminating between the domestic and foreign market for a…
A:
Q: When the price of Good 1 changed from $7 per unit to $10 per unit, demand for Good 2 changed from…
A: Cross price elasticity of demand refers to the responsiveness in Quantity demanded of good X due…
Q: 6. A-One bakery in Brampton sells 350 fruit cakes slices each month for $3.25 each. They are looking…
A: Given information: At the price of $3.25, A-one bakery sells 350 fruit cake slices When the price…
Q: Consider a general utility function U(x₁, x₂). Let's now solve for the optimal bundle generally…
A: A mathematical function that is known as a utility function is one that assigns a number to each of…
Q: 1000 750 ÏILLE 500 1250 250
A: Each sum is communicated in the worth of the cash at that specific time, alluded to as future…
Q: Suppose a firm has a production function with two inputs, capital (K) and labor (L). The production…
A: DISCLAIMER “Since you have asked multiple question, we will solve the first 3 subparts for you. If…
Q: A monopolist options: always earns profits in the long run. may earn profits in the long…
A: A monopolist is the market where there are many buyers but only one seller. In this market product…
Q: lidst 58 refer to the figure above. the measure on the vertical axis can be best described as a) a…
A: The market for loanable funds has a demand curve for loanable funds and a supply curve for loanable…
Q: Usual Less than 20 hours Between 20 and 40 worked Greater than 40 Not a college graduate Total…
A: Answer to the question is as follows
Q: 6) You have a balance of $7500 on your credit card and you make no further charges. If your APR is…
A:
Q: Predict the demand for December using 4-period moving average.
A: To compute 4 month average for December Use the four months before it. Average Aug, Sep, Oct and Nov…
Q: 3
A: In economics, when the choices are known, then there is an element of certainty attached to it. But…
Step by step
Solved in 2 steps
- Profit The profit for a product is given by P(x) =19x - 5060, where x is the number of units producedand sold. Find the marginal profit for the product.Electrical Components Profit A company’s dailyprofit from the production and sale of electrical components can be described by the equation P(x) =6.45x - 2000 dollars, where x is the number of unitsproduced and sold. What level of production andsales will give a daily profit of more than $10,900?function for the lightweight compasses is given by p = 40- 4q²where q is the number of lightweight compasses produced in millions. It costs the company $15 to make a lightweight compass. (i) Write an equation giving profit as a function of the number of lightweight compasses produced. (ii) At the moment the company produces 2 million lightweight compasses and makes a profit of $18,000,000, but you would like to reduce production. What smaller number of lightweight compasses could the company produce to yield the same profit? Type your answer here:
- Crawford Computing finds that its weekly profit, in dollars, from its production and sale of x laptop computers is P(x)=-.002x^3-.15x^2+400x-800 Currently, Crawford builds and sells 9 laptops weekly. (a) what is the current weekly profit? (b) how much profit would be lost if production and sales dropped to 8 laptops weekly? (c) what is the marginal profit with x=9? (d) use answers from parts (a) and (c) to estimate the profit resulting from the production and sale of 10 laptops weekly.920 it bait of 289301 Sindspis ON SEU pilkupeni A30S AO +32 monulo2 An economist for a sporting goods company estimates the revenue and Cost functions for the production of a new snowboard. These Functions are R(x) = -x ² +10x and ((x) = 4x+5, respectively, where x is the number of Snowboard's produced in thousands. The average profit is defined by the function AP(x) = P(x), where pox) is the profit function & Determine the production levels that make AP(x) > 0 P-xdMarginal Revenue for an Apartment Complex Lynbrook West, an apartment complex, has 100 two-bedroom units. The monthly profit (in dollars) realized from renting x apartments is represented by the following function. P(x) = -6x² + 1620x - 36000 (a) What is the actual profit realized from renting the 61st unit, assuming that 60 units have already been rented? $ 40,434 X (b) Compute the marginal profit when x = 60 and compare your results with that obtained in part (a). $ 900
- The Night Owl Restaurant generates sales of $1,000,000 a month with variable costs of 35%. The Kobe beef burger is one of the restaurants’ best selling menu items with a price of $13 and a food cost of 30%. The menu has 20 item and total sales average 20,000 menu items a month, of which 10% are Kobe beef burgers. What is the profit factor for the Kobe beef burger 1.20 0.56 0.49 1.50Q2)Tony Keonte owns a factory that manufactures Eye-Games. His weekly profit (in thousands of dollars) is given by the following function: P(x) = -4x2 + 80x- 300. Where x is the number of Eye-Games sold. a) What is the largest number of Eye-Games that the company can sell and still make profit? (25 points) b) How many Eye-Games will the firm have to produce and sell in order to maximize profit? (25 points)A company produces and sells a consumer product and is able to control the demand for the product by varying the selling price. The approximate relationship between price and demand is p= 200-0.05D where p is the price per unit in dollars and D is the demand per month. The company is seeking to maximize its profit. The fixed cost is $15000 per month and the variable cost is $50 per unit. a. What is the number of units that should be produced and sold each month to maximize profit? b. What is the domain of profitable demand during a month? Show your spreadsheet.
- (a) A retail company has a marginal profit curve given by: MP =-2Q 2+ 160Q + 2145. Determine the level of production, or range of production at which the company will have: (i) Increasing returns (ii) Decreasing returns (iii) Negative returns (iv) Its maximum profit (b) A production process varies only with raw materials, as all other inputs are fixed. The cost of a shipment of 8kg of raw materials is fixed at $85. It takes 5kg of raw materials to create one item of output, Q. The marginal revenue for this production process is expressed by: MR = =Q 2 + 520 – 576. 2+52Q Determine the optimal amount of raw materials to be used in this production process. (c) A production process varies with both labour, L and raw materials, M. The production function is given: Q = 1.25L 0.38 +0.9M0.68 Current production level is Q= 800 items and marginal profit is given as a fixed $16.50. Determine what profit can be expected if: (i) Labour is increased by 25%. (ii) Both labour and raw materials are…An entrepreneur named Khadijah has total revenue shown by the equation TR = 150Q - 5Q² and total costs shown by the equation TC = 20 - 10Q. Determine the amount of output that must be produced by Khadijah to get the maximum profit and what is the maximum profit from that amount of output. Prove that the value obtained is the maximum!2AAWO AC I4 17.1 REVENUE, COST, AND PROFIT APPLICATIONSITSO RSYHAHD 797 20 A firm sells each unit of a product for $50. The total cost of producing x (thousand) units is described by the function C(x) = 10 – 2.5x² + x³ where C(x) is measured in thousands of dollars. (a) Use the marginal approach to determine the profit-maximizing level of output. (6) What is total revenue at this level of output? Total cost? Total profit? 1 The profit function for a firm is -000