A monopolist has a marginal cost function, 6Q 2 + 5Q, and the fixed costs are 25.
Question:
A monopolist has a marginal cost function, 6Q2 + 5Q, and the fixed costs are 25. The demand function is 2P + Q = 510.
(a) Find an expression for the profit function in terms of Q.
(b) Hence find the production level that maximises profit and explain why this is a maximum.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 90% (11 reviews)
a TC 60 50dQ 30 50 c The fixed costs are 25 so TC 3Q ...View the full answer
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Mathematics questions
-
Find an expression for a cubic function f if f(1) = 6 and f(-1) = f(0) f(2) = 0.
-
A manufacturer has fixed costs of $200 each week, and the variable costs per unit can be expressed by the function, VC = 2Q 36. (a) Find an expression for the total cost function and deduce that the...
-
Find an expression for the profit function given the demand function 2Q + P = 25 and the average cost function AC = 32/Q + 5 Find the values of Q for which the firm (a) breaks even; (b) makes a loss...
-
Consider constant marginal abatement cost for two firms: (a) Determine the optimal allocation for both firms when the damage function is convex, and when it is linear. (b) Is it possible to achieve...
-
Air enters the regenerative Brayton cycle of Fig. 9.47 cycle at 14 psia and 20°F. The pressure ratio is 4 and the maximum temperature is 1800ºF. Assuming an ideal cycle with constant...
-
Critically discuss the length of time audit firms can reasonably be expected to audit the accounts of a company before becoming too cosy and familiar with their client and therefore less likely to...
-
Give two examples of a business-oriented discrete random variable. Do the same for a continuous random variable.
-
Lets assume that over the years, a paper and pencil test of anxiety yields a mean score of 35 for all incoming college freshmen. We wish to deter-mine whether the scores of a random sample of 20 new...
-
A stock price is currently $50. It is known that at the end of two months it will be either $53 or $48. The risk free interest rate is 10% per annum with continuous compounding. What is the value of...
-
You are the owner of a small business that manages the program, food, and merchandise sales at the Excel Center, where the local professional basketball team plays. In addition to basketball games,...
-
A company begins its extraction of oil from a newly discovered oil field at t = 0. The rate of extraction, measured in thousands of barrels per year, is given by Calculate the number of barrels...
-
(a) Find the area under the curve y = x 2 + 2x + 3 between x = 1 and x = 2. (b) Integrate each of the following functions with respect to x: (c) * 3 (ii) e += () 5 2? + 9 (it) + - 9VI Show...
-
Consider the following data: 1. Prepare a similar tabular presentation, filling in all blanks. 2. Which division is the best performer? Explain. 3. Suppose each division is assessed an imputed...
-
Exercise 11-5 Profit allocation in a partnership LO3Dallas and Weiss formed a partnership to manage rental properties, by investing $161,000 and $189,000, respectively. During its first year, the...
-
operation research an introduction by Taha, Hamdy A . 2 0 2 2 . Operations Research - An Introduction. 1 1 th ed . Prentice Hall..kindly explain this
-
which 2 statements are correct regarding budgets in quickbooks online? a . budgets can be created to track capital expenditures. b . budgets can be set up bsed on the last fiscal year's financial...
-
Dr. Yong has requested that Senture Houston, an office manager at Pain Free Dental Associates, prepare a single journal entry for December 31, 2022. The bank statement for that day shows $9,500....
-
This program will not require any IF statements, loops, or custom classes. Instead, it will check inputted data for two kinds of mistakes: Wrong data type (entering text instead of numbers), and math...
-
Find a shortest path and its length by Moore?s BFS algorithm, assuming that all the edges have length 1. S t
-
When the concentration of a strong acid is not substantially higher than 1.0 10-7 M, the ionization of water must be taken into account in the calculation of the solution's pH. (a) Derive an...
-
In Problem write the coefficient matrix and the augmented matrix of the given system of linear equations. -8x 1 + 3x 2 = 10 6x 1 + 5x 2 = 13
-
Solve the following system using elimination by addition: 4x1 + 3x2 = 3 3x1 + 2x2 = 5
-
In Problem find the matrix product. Note that each product can be found mentally, without the use of a calculator or pencil-and-paper calculations. [1 2][5 0] [3 4 0 5
-
Pottery Ranch Inc. has been manufacturing its own finials for its curtain rods. The company is currently operating at 100% of capacity, and variable manufacturing overhead is charged to production at...
-
3. How much life insurance do you need? Calculating resources - Part 2 Aa Aa E Paolo and Maria Rossi have completed Step 1 of their needs analysis worksheet and determined that they need $2,323,000...
-
On March 1, LGE asks to extend its past-due $1,200 account payable to Tyson, Tyson agrees to accept $200 cash and a 180-day, 8%, $1,000 note payable to replace the account payable. (Use 360 days a...
Study smarter with the SolutionInn App