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Answer only left out and wrong ones 1. [4/6 Points] DETAILS PREVIOUS ANSWERS MY NOTES ASK YOUR TEACHER You sell Things. Your marginal revenue and
Answer only left out and wrong ones
1. [4/6 Points] DETAILS PREVIOUS ANSWERS MY NOTES ASK YOUR TEACHER You sell Things. Your marginal revenue and marginal cost (both In dollars per Thing) for selling @ hundred Things are given by: MR(q)=33-3q and MC(Q)=50+3. a.) Compute MR(2) and MC(2). MR(2)= 27 dollars per Thing MC(2)= 13 dollars per Thing b.) Which of the following are true? Select all that apply. If you sell 2 hundred Things, your profit is $1400. Total revenue increases by $27 if quantity increases from 200 to 201 Things. If you sell 2 hundred Things, your profit Is $14. Total revenue Increases by $2700 If quantity Increases from 2 to 3 Things. Total cost Increases by $13 If quantity Increases from 200 to 201 Things. _ Profit Is maximized at 2 hundred Things. Profit Increases by $14 If quantity Increases from 200 to 201 Things. C.) Find the quantity that maximizes profit. 3.75 hundred Things d.) Compute the change in total revenue if quantity changes from 400 to 401 Things. Include units. 1168.5 dollars x e.) Your average cost, In dollars per Thing, Is given by AC(@)=2.57+3+. Recall that breakeven price is the "y"-coordinate of the point of Intersection of MO(q) and AC(g) and compute the breakeven price. 615.434 x dollars per ThingPREVIOUS ANSWERS ASK YOUR TEACHER Suppose a company has fixed costs of $35,200 and average variable costs given by AVC(X)=X + 333 dollars per unit, where x is the total number of units produced. Suppose further that the selling price of 3. [1/5 Points] Its product Is p=1465 x dollars per unit. (a) Find the breakeven points. (Enter your answers as a comma-separated list.) x = 32,1100 (b) Find the maxlmum total revenue. (Round your answer to the nearest cent.) 35 805932.75 x (c) Form the prot functlon, P(x), from the total cost and total revenue functions. P(x) = Find maximum profit. (Round your answer to the nearest cent.) $ (d) What price per unit will maximize the profit? (Round your answer to the nearest cent.) $Step by Step Solution
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