Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on Jul 08, 2024

A manufacturer produces gizmos at a cost of $5 each. The manufacturer computes that if each gizmo sells for x dollars, (15 ? x) gizmos

A manufacturer produces gizmos at a cost of $5 each. The manufacturer computes that

if each gizmo sells for x dollars, (15 ? x) gizmos will be sold. What is the profit function

and at what price should he sell the gizmos to maximise profit?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

The End Of Poverty Economic Possibilities For Our Time

Authors: Jeffrey D Sachs, Bono

1st Edition

0143036580, 9780143036586

More Books

Students also viewed these Economics questions

Question

★★★★★

What determines the winners and losers in an unanticipated inflation? Using your answer as a starting point, explain why the major redistributional effect of unanticipated inflation is to transfer...

Answered: 1 week ago

Question

★★★★★

Find the mean x for the set of data given below. Round your answer to one decimal place. 240 257 235 251 237 239 253 250 The mean is 245.3. The mean is 244.9. The mean is 245.7. The mean is 246.3.

Answered: 1 week ago

Question

★★★★★

What insights might the activity theory of aging provide into the likely contributors to Kimuras longevity?

Answered: 1 week ago

Question

★★★★★

From the 1960s, James Johnson served as Bradley Unions personal caretaker and assistant, and was authorized by Union to handle his banking transactions. Louise Johnson, Jamess wife, wrote checks on...

Answered: 1 week ago

Question

★★★★★

X Company produces 61,100 units of its regular product each year and sells each one for $14.00. The following cost information is available: X Company produces 61,100 units of its regular product...

Answered: 1 week ago

Question

★★★★★

If the following methods are declared in a class, which of them fail to compile because of overloading rules? public static int f 2 ( int a , int b ) / / 1 public static double f 2 ( double a , int b...

Answered: 1 week ago

Question

★★★★★

1. [-/10 Points] DETAILS Find the average value gave t of the function g on the given interval. g(t) = [3, 7] 7 + gave =

Answered: 1 week ago

Question

★★★★★

The in-control model for a certain quality characteristic (x bar.jpg ) is given by CL = 10, UCL = 10.15 and LCL = 9.85 with 3-sigma control limits and n = 16. Calculate the Upper Warning Limit (UWL),...

Answered: 1 week ago

Question

★★★★★

An Australian company has an existing 90-day 8.0% promissory note facility with a face value of AUD 1,400,000, which rolls over in 90 days. When it does roll-over (90 days later), the interest rate...

Answered: 1 week ago

Question

★★★★★

What happens to the price elasticity of the demand for coal when the quantity of coal demanded is measured in kilograms instead of tons? The price elasticity will be neither more nor less elastic....

Answered: 1 week ago

Question

★★★★★

1. Review Critical Legal Thinking Case 17 on page 310 of the textbook entitled United States v. Michaels Jewelers, Inc. Using IRAC, identity the issue(s) in this case. Explain the applicable rule....

Answered: 1 week ago

Question

★★★★★

1. Oprah Winfrey is one of Americas most popular talk-show hosts. Consider the behaviors she displays on her show, and then complete the following exercises:

Answered: 1 week ago

Question

★★★★★

2. Print out the most recent e-mails that you have sent or received and bring them to class. Analyze their effectiveness in terms of the e-mail tips in this chapter. Did the messages violate any of...

Answered: 1 week ago

Question

★★★★★

3. Lets assume that you have been hired to study the series of mix-ups that involved personnel employed by Automatic Elevator, Cardinal Health, and Duke Hospitals; propose your recommendation that...

Answered: 1 week ago

Previous Question Next Question