Question: Find an expression for the profit function given the demand function 2Q + P = 25 and the average cost function AC = 32/Q +

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.

Step by Step Solution

★★★★★

3.56 Rating (163 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

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

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Economics Business Questions!

Q:

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...

Q:

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 =...

Q:

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...

Q:

. Find an expression for the profit function given the demand function 2Q + P = 50 and the average cost function of AC = (1+ 3 + %. Find the values on for which the firm breaks even

Q:

Problem 2.4- Find an expression for the prot function given the demand function -2Q + P =-25 and the average cost function AC = g 12. Find the values of Q for which the rm: a) Breaks even b) Makes a...

Q:

Find an expression for the prot function given the demand function 20 + P= 18 24 and the average cost function AC -= E + 2 a) Find the "values of Q for which the rm breaks even. b) Find the value of...

Q:

Q2 Given the demand function, 20 + p = 25; and the average cost function, AC = (32/Q) + 5 where Q is the quantity and p is the price. Find (a) the price function, p(Q) in terms of Q. (1 mark) (b) the...

Q:

Let A=[ -4] b= [74] what values of h, if any, will make AB=BA? A firm's production function is given by q = k2l/k+41 where k and Ldenote capital and labour, respectively. a. (5 points) Show that the...

Q:

RV I 1. A monopolist has a marginal cost function, 602 + 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...

Q:

Question 1 0/6 pts ) 4 99 0 Details For the given cost function C(a) = 40000 + 600x + x find: a) The cost at the production level 1550 b) The average cost at the production level 1550 c) The marginal...

Q:

Describe some of the legal challenges faced in protecting Intellectual property and promoting innovation with emerging technology.

Q:

A thin copper wire of 1 length increases in length by 1% when heated from 0C to 100C, if a then coop plate of area 21x1 is heated from 0C to 100C, the percentage increase in its area will be.

Q:

If fixed costs are $ 3 3 2 , 0 0 0 , the unit selling price is $ 7 0 , and the unit variable costs are $ 5 1 , the old and new break - even sales ( units ) , respectively, if the unit selling price...

Q:

=+guanxi, such as blat in Russia, guan he in Vietnam, and old boys network in the English-speaking world.

Q:

Graph each inequality in Problem 6x 4y

Q:

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

Q:

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...

Q:

What type of software controls the internal operations of the computer's hardware?

Q:

At age fifty-five (55), Hannibal buys a 7-year temporary life annuity of twenty thousand (20000$) per annum to be paid at the end of each year for his retirement. Find a net single premium for...

Q:

i need help with this problem thanks!! Present value concept Answer each of the following questions a. How much money would you have to invest today to accumulate $5,000 after 7 years of the rate of...