Find an expression for the profit function given the demand function 2Q + P = 25 and

Question:

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 of 432 units;
(c) maximises profit.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Mathematics for Economics and Business

ISBN: 978-1292191669

9th edition

Authors: Ian Jacques

See More Books

Question Posted: Apr 18, 2019 08:52 AM

See More Questions

A monopolist has a marginal cost function, 6Q 2 + 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...
Suppose a company's revenue R (in dollars) from the sale of x units of its product is given by R = 215x Suppose further that the total costs C (in dollars) of producing those x units is given by C =...
Find an expression for the function whose graph is the given curve. 41. The line segment joining the points (-2. 1) and (4. -6) 42. The line segment joining the points (-3. -2) and (6., 3) 43. The...
In Rev. Rul. 81-301, which of the following is not a factor considered by the IRS in determining whether a partner receives payments in her capacity as a partner, or is instead acting as a third...
On January 2, Carson Car Rentals decided to set up a petty cash fund. The treasurer established the fund by writing and cashing a $300 check and placing the coin and currency in a locked petty cash...
Because placing an order does not create an asset or a liability, accounting standards do not require a company to increase Inventory or Accounts Payable when entering into a purchase contract...
Three theoretical perspectives on strategic HR management can be identified: universalist/best practice; contingency/fit; and the resource-based/human capital view. Each has advantages and...
Given the following information, prepare in good form an income statement for Jonas Brothers Cough Drops. Selling and administrative expense $ 328,000 Depreciation expense 195,000 Sales 1,660,000...
A company (the seller) provides software to customers for 8 years. In addition to the software, the company also provides the customer consulting services over the 8-year period. The total...
Crystal Cleaners dry cleans industrial clothing. The following excerpt from its PPE Subledger shows the component details regarding the dry cleaning equipment: Calculate depreciation on the dry...
The total cost of producing 500 items a day in a factory is $40 000, which includes a fixed cost of $2000. (a) Work out the variable cost per item. (b) Work out the total cost of producing 600 items...
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 following dataset is a random sample from a normal distribution: 103.23, 111.00, 86.45, 105.17, 101.91 92.15, 97.40, 102.06, 121.47, 116.62 Find a 95% confidence interval for variance.
Case # 4 Joseph Joseph, a 19-year-old African American college freshman. Yesterday he spent the afternoon drinking beer and taking shots of vodka with his fraternity brothers. After 6 glasses of beer...
1. Kaldor facts [50 points] Kaldor (1961) documented a set of stylized facts on the growth process of industrialized countries. We discussed these facts in lecture 2. Explain if and how the...
County has the Investment Activities recorded in its general fund: Tesla Stock: Cost $100, Fair Value on Jan 1x1: $200; Fair Value on Dec 31x2: $300 DJT Stock: Cost: $100; Fair Value on Jan 1x1:...
Pets World is a retailer of a popular blend of organic dog food produced by Natural Pets Company. On average, Pets World sells 600 cans per week. The wholesale price that Natural Pets Company charges...
Out Supply-Chaining the King of Supply Chainers, How easy (or hard) would it be for rivals like Walmart or Carrefour to adopt Tesco's data management techniques? (Please provide reference...
What are the steps to follow when graphing polar equations?
Don Griffin worked as an accountant at a local accounting firm for five years after graduating from university. Recently, he opened his own accounting practice, which he operates as a corporation....
Graph each inequality in Problem 6x 4y
In Problem, (A) Graph the set of points that satisfy the inequality. (B) Graph the set of points that do not satisfy the inequality. 3x - 5y 30
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. 0...
business law A partner may actively compete with the partnership True False
A company provided the following data: Selling price per unit $80 Variable cost per unit $45 Total fixed costs $490,000 How many units must be sold to earn a profit of $122,500?
Suppose a 10-year, 10%, semiannual coupon bond with a par value of $1,000 is currently selling for $1,365.20, producing a nominal yield to maturity of 7.5%. However, it can be called after 4 years...

Find an expression for the profit function given the demand function 2Q + P = 25 and

Question:

Step by Step Answer:

The demand equation 20 P25 rearranges as P2520 giving TR P...View the full answer

Mathematics for Economics and Business

Students also viewed these Mathematics questions