Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jun 27, 2023

22. The price of Ada's juice per unit is given by: P = 50q q - 800 - While the total cost of producing

22. The price of Ada's juice per unit is given by: P = 50q q - 800 - While the total cost of producing the juice is: C = 800 + 700q - 3q + q Determine the quantity which maximizes the profit. How many units of the juice needs to be produced in order to maximize profit if the selling price remains at N700.

Step by Step Solution

★★★★★

3.45 Rating (142 Votes )

There are 3 Steps involved in it

Step: 1

a To determine the quantity which maximizes the profit we need to find the value of q that correspon... blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics

Authors: Mark Hirschey

12th edition

9780324584844, 324588860, 324584849, 978-0324588866

More Books

Students also viewed these Mathematics questions

Question

★★★★★

Guochang Li was hired as chief executive officer (CEO) in late November by the board of directors of ContactGlobal, a company that produces an advanced global positioning system (GPS) device. The...

Answered: 1 week ago

Question

★★★★★

If the demand function for q units of a product at $p per unit is given by p(q + 1)2 = 200,000 find the rate of change of quantity with respect to price when p = $80. Interpret this result.

Answered: 1 week ago

Question

★★★★★

If the demand function for q units of a commodity at $p per unit is given by p2 (2q + 1) = 100,000 find the rate of change of quantity with respect to price when p = $50. Interpret this result.

Answered: 1 week ago

Question

★★★★★

3. (15 pts.) The random variables X and Y have joint density function fxx(x, y) x-?y?, x > 1, y > 1. Compute the cdf and pdf of the random variable U = XY.

Answered: 1 week ago

Question

★★★★★

1. Who should win? 2. One of the reasons the common law of most states has not forced a bystander to render aid has been the fear that a bystander would do an imperfect job and subject himself to...

Answered: 1 week ago

Question

★★★★★

How Can an ACO Improve the Health of Its Population? case: What do you think are Vandalia Cares performance goals in this case? Which performance metrics would be useful for Vandalia? Suggest...

Answered: 1 week ago

Question

★★★★★

=+b) What action would have the highest expected value if they think the probability of rising consumer confidence is only 0.40?

Answered: 1 week ago

Question

★★★★★

The center of gravity G of a 3.5-lb unbalanced tracking wheel is located at a distance r = 0.9 in. from its geometric center B. The radius of the wheel is R = 3 in. and its centroidal radius of...

Answered: 1 week ago

Question

★★★★★

Deemer Corporation has an activity-based costing system with three activity cost pools-Processing, Supervising, and Other. In the first stage allocations costs in the two overhead accounts, equipment...

Answered: 1 week ago

Question

★★★★★

Thompson Distributors packages and distributes industrial supplies. A standard shipment can be packaged in a class A container, a class K container, or a class T container. A single class A container...

Answered: 1 week ago

Question

★★★★★

Developers are required to sell within certain timelines, and ABSD could affect them significantly. With reference to the report, comment on what had happened?...

Answered: 1 week ago

Question

★★★★★

Morgan's Selling Price 135 Process 1 Process 2 Fixed Cost 110,000 45,000 Variable Cost. 40 100 Labor Hours / unit 4 10 Suppose that Morgan is going to produce at 1300 units and would choose Process...

Answered: 1 week ago

Question

★★★★★

From the movie Everest, Guide Rob Hall attempts to help his client, Beck Weathers, get across a chasm. Based on "Leading in Times of Uncertainty, analyze the extent to which this scene reflects...

Answered: 1 week ago

Question

★★★★★

3. The book uses 4 synonyms for the average of the outcome if you played a game over and over. The four synonyms are? 1. Variance 2. Semivariance 3. Systematic distributions 4. Asystematic...

Answered: 1 week ago

Question

★★★★★

An athlete runs a marathon, after which his muscles feel fatigued and unable to contract. The athlete asks the nurse why this happened. The nurse's response is based on the knowledge that the problem...

Answered: 1 week ago

Question

★★★★★

The Self - Appraisal Problem Leroy Washington, human resource director at Engel Products was faced with a problem that he had not experienced before and was uncertain how to proceed. The problem was...

Answered: 1 week ago

Question

★★★★★

FIFO and LIFO Costs Under Perpetual Inventory System The following units of an item were available for sale during the year: The firm uses the perpetual inventory system, and there are 15 units of...

Answered: 1 week ago

Question

★★★★★

What impact has the Internet had on the globalization of small firms? How do you think small companies will use the Internet for business in the future?

Answered: 1 week ago

Question

★★★★★

Discuss some of the microeconomic and macroeconomic factors a firm must consider in its own sales and profit forecasting.

Answered: 1 week ago

Question

★★★★★

The definition of point output elasticity is Q = Q/Q X/X ( X represents all inputs), whereas the definition of point cost elasticity is C = C/C Q/Q. Explain why Q > 1 indicates increasing...

Answered: 1 week ago

Question

★★★★★

Identify each of the following statements as true or false and explain why. A. The effect of a $1 change in price is constant, but the elasticity of demand will vary along a linear demand curve. B....

Answered: 1 week ago

Question

★★★★★

Refer to Example 5. Use tire heuristic used in Example 5 to determine shifts for a. Counter staff b. Assembly Board staff Example 5

Answered: 1 week ago

Question

★★★★★

Determine the minimum number of workers needed and a schedule for the following staffing requirements, giving workers two consecutive days off per week.

Answered: 1 week ago

Question

★★★★★

During each four-hour period, a small town police force requires the following number of on- duty police officers: eight from midnight to 4 a.m.; seven from 4 a.m. to 8 a.m.; six from 8 a.m. to noon;...

Answered: 1 week ago

Previous Question Next Question