Sketch, on the same diagram, graphs of the total revenue and total cost functions, TR = 2Q
Question:
Sketch, on the same diagram, graphs of the total revenue and total cost functions,
TR = −2Q2 + 14Q
TC = 2Q + 10
(1) Use your graphs to estimate the values of Q for which the firm
(a) Breaks even;
(b) Maximises profit.
(2) Confirm your answers to part (1) using algebra.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 85% (7 reviews)
The graphs of TR and TC are sketched in Figure 219 a TRTC 20 1402010 20 1...View the full answer
Answered By
PALASH JHANWAR
I am a Chartered Accountant with AIR 45 in CA - IPCC. I am a Merit Holder ( B.Com ). The following is my educational details.
PLEASE ACCESS MY RESUME FROM THE FOLLOWING LINK: https://drive.google.com/file/d/1hYR1uch-ff6MRC_cDB07K6VqY9kQ3SFL/view?usp=sharing
3.80+
3+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Mathematics questions
-
(a) Sketch a graph of the supply curve P = 4 + Q 2 on the interval 0 Q 3. (b) On the same diagram, sketch the line, P = 13. (c) Work out the exact area bounded between the curve P = 4 + Q 2 , the...
-
The supply and demand functions of a good are given by where P, Q S and Q D denote the price, quantity supplied and quantity demanded, respectively. (a) Draw sketch graphs of these functions on the...
-
Sketch the following lines on the same diagram: 2x 3y = 6, 4x 6y = 18, x -3/2y = 3 Hence comment on the nature of the solutions of the following systems of equations: () 2r - 6 3 6 (b) 4 18 ...
-
Dale and Roy formed a partnership early this year. Dale contributed $150,000 cash in exchange for a 50% interest in the partnership. Roy contributed land with a tax basis of $90,000, and a fair...
-
Carpetland City reported net income of $78,500 for the year ended December 31, 2016. The following items were included on Carpetland's balance sheet at December 31, 2016 and 2015: Carpctland uses the...
-
Hexavalent chromium has been identified as an inhalation carcinogen and an air toxin of concern in a number of different locales. The article "Airborne Hexavalent Chromium in Southwestern Ontario"...
-
Tom Slater opened an accounting firm on March 1,2010. During the month of March, the business completed the following transactions: Requirements 1. Open, or set up, the following T-accounts: Cash,...
-
FA Manufacturers must make several investment decisions related to its business operations. Interest is compounded annually. Analyze the following independent situations to help FA make a profitable...
-
13 14 15 16 17 18 26 26 Having sold the equipment, OPC pays off the note payable in full on 1/17. The amount paid is $23,613, which includes interest accrued in December and an additional $95...
-
What conditions, externally and internally, would be desired/necessary for a firm to diversify?
-
A taxi firm charges a fixed cost of $10 together with a variable cost of $3 per mile. (a) Work out the average cost per mile for a journey of 4 miles. (b) Work out the minimum distance travelled if...
-
The demand function for a firms product is given by P = 60 Q. Fixed costs are 100, and the variable costs per good are Q + 6. (a) Write down an expression for total revenue, TR, in terms of Q and...
-
See the T accounts below. The equipment was sold for a gain of $5,000. Using this infor- mation, indicate the items to be reported on the statement of cash flows using the direct method. Accumulated...
-
Examine Fowlers account pattern on following characteristics: a. Simplicity b. Generality c. Completeness d. Stability e. Visual and graphical model f. Testability
-
Examine resource rental pattern on following characteristics: a. Simplicity b. Generality c. Reusability d. Completeness e. Stability f. Visual and graphical model g. Testability
-
What do you mean by the term temptation? Can the term temptation be used in any other context other than what has already been?
-
April and Andy were married on May 16, 1998. They had two children. Noah Andrew was born on July 19, 1999. Emma Katherine was born on July 30, 2000 . . . In the spring of 2003, April and Andy...
-
The record supports the following facts. The petitioner filed for divorce from the respondent on grounds of irreconcilable differences. He subsequently moved to amend the petition to assert the fault...
-
The beam has a rectangular cross section with b = 4 in. Determine the largest maximum intensity w 0 of the triangular distributed load that can be supported if the allowable bending stress is Ï...
-
As long as we can't lose any money, we have a risk-free investment." Discuss this comment. Q2: Both investing and gambling can be defined as "undertaking risk in order to earn a profit." Explain how...
-
In Exercise, state the linear inequality whose graph is given in the figure. Write the boundary-line equation in the form Ax + By = C, where A, B, and C are integers, before stating the inequality.
-
In Problem, graph each inequality subject to the non negative restrictions. 24x + 30y > 7,200, x 0, y 0
-
In Problem, graph each inequality subject to the non negative restrictions. - 14x + 22y < 1,540, x 0, y 0
-
In backflush costing, if the conversion cost in the Raw and In Process was P500 on July 1 and P1,000 on July 31, the account to be credited at the end of July for the P500 increase would.
-
When joint costs are allocated according to each item's relative proportion of weight at split-off point, what method is used?
-
A manufacturing company runs two productions centers C1 and C2 and two services centers S1 and S2. The total allocations and apportioned overheads for each is as follows. C1. C2. S1. S2. $. $. $. $...
Study smarter with the SolutionInn App