Calendar X VA Final Exam Review - 1320 - M X Course Hero x + C webassign.net/web/Student/Assignment-Responses/submit?dep=25947248&tags=autosave#question4916124_21 A :: Apps M SIMnet - Keep IT... Legal Environme Cavas Meeting | Micros... Login MindTap - Cenga... CengageNOWv2... My Home M SIMnet - Assign... Course Hero 1. [-/1 Points] DETAILS HARMATHAP12 9.9.003. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Total revenue is in dollars and x is the number of units. Suppose that the total revenue function for a commodity is R = 49x - 0.02x2. (a) Find R(100). $1 Tell what it represents. O 101 units produce this amount of revenue. The revenue increases by about this amount when the number of units is increased from 100 to 101. 100 units produce this amount of revenue. The revenue decreases by about this amount when the number of units is increased from 100 to 101. The actual revenue of the 100th unit is this amount. (b) Find the marginal revenue function. MR = (c) Find the marginal revenue (in dollars per unit) at x = 100. $ per unit Tell what it predicts about the sale of the next unit and the next 3 units. The sale of the next unit will |---Select-- | the revenue by about $ . The sale of the next 3 units will ---Select--- | the revenue by about $ (d) Find R(101) - R(100). $ Explain what this value represents. O actual revenue from the 101st unit O actual revenue from 100 units O marginal revenue at x = 100 actual revenue from the 100th unitCalendar X A Final Exam Review - 1320 - M X Course Hero X + C webassign.net/web/Student/Assignment-Responses/submit?dep=25947248&tags=autosave#question4916124_21 A :: Apps M SIMnet - Keep IT... Legal Environme Cavas Meeting | Micros... Login MindTap - Cenga... CengageNOWv2... My Home M SIMnet - Assign... Course Hero 2. [-/0.999999999999999 Points] DETAILS HARMATHAP12 9.9.005. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Suppose that demand for local cable TV service is given by p = 118 - 0.4x where p is the monthly price per subscriber in dollars and x is the number of subscribers (in hundreds). (a) Find the total revenue R (in hundreds of dollars) as a function of the number of subscribers (in hundreds). R(X) = (b) Find the number of subscribers (in hundreds) when the company charges $80 per month for cable service. hundred subscribers Find the total revenue (in hundreds of dollars) for p = $80. hundred dollars (c) How could the company attract more subscribers? More subscribers are attracted by |---Select--- v| prices. (d) Find the marginal revenue (in hundreds of dollars per hundred subscribers) when the price is $80 per month. hundred dollars per hundred subscribers Interpret this value. For the number of subscribers associated with a price of $80 per month, as the number of subscribers (in hundreds) increases by 1, the revenue ---Select--- v| by (100) = $ What does the marginal revenue suggest about the monthly charge to subscribers? O The revenue can be increased by raising the monthly charges O The revenue can be increased by lowering the monthly charges. Need Help? Read ItCalendar X VA Final Exam Review - 1320 - M X Course Hero x + C webassign.net/web/Student/Assignment-Responses/submit?dep=25947248&tags=autosave#question4916124_21 A : : Apps M SIMnet - Keep IT... <_> Legal Environme Cavas Meeting | Micros... Login MindTap - Cenga... CengageNOWv2... My Home M SIMnet - Assign... Course Hero The revenue can be increased by lowering the monthly charges. Need Help? Read It 3. [-/1 Points] DETAILS HARMATHAP12 10.3.029. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER A manufacturer estimates that its product can be produced at a total cost of C(x) = 35,000 + 100x + x dollars. If the manufacturer's total revenue from the sale of x units is R(x) = 5200x dollars, determine the level of production x that will maximize the profit. (Round your answer to the nearest whole number.) units Find the maximum profit. (Round your answer to the nearest dollar.) $ Need Help? Read It 4. [-/1 Points] DETAILS HARMATHAP12 10.3.043.MI. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Coastal Soda Sales has been granted exclusive market rights to the upcoming Beaufort Seafood Festival. This means that during the festival Coastal will have a monopoly, and it is anxious to take advantage of this position in its pricing strategy. The daily demand function is p = 2 - 0.0004x and the daily total cost function is C(x) = 600 + 0.2x + 0.0001x2 where x is the number of units. (a) Determine Coastal's total revenue, R(x), and profit functions, P(x), in dollars. R (X ) = P(x )Calendar X A Final Exam Review - 1320 - M x Course Hero X + C webassign.net/web/Student/Assignment-Responses/submit?dep=25947248&tags=autosave#question4916124_21 A : Apps M SIMnet - Keep IT... Legal Environme Cavas Meeting | Micros... Login MindTap - Cenga... CengageNOWv2... My Home M SIMnet - Assign... Course Hero 4. [-/1 Points] DETAILS HARMATHAP12 10.3.043.MI. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Coastal Soda Sales has been granted exclusive market rights to the upcoming Beaufort Seafood Festival. This means that during the festival Coastal will have a monopoly, and it is anxious to take advantage of this position in its pricing strategy. The daily demand function is p = 2 - 0.0004x and the daily total cost function is C(x) = 600 + 0.2x + 0.0001x2 where x is the number of units. (a) Determine Coastal's total revenue, R(x), and profit functions, P(x), in dollars. R(X) = P (x ) = (b) What profit-maximizing price per soda should Coastal charge? $ per soda How many sodas per day would it expect to sell at this price? sodas per day What would be the daily profits? $ per day (c) If the festival organizers wanted to set an economically efficient price of $1.25 per soda, how would this change the results from part (b)? (Round your answer for daily profits to the nearest cent.) sodas per day it would expect to sell sodas per day daily profits $ per day Would Coastal be willing to provide sodas for the festival at this regulated price? Why or why not? O Yes, Coastal would still provide sodas, because the profits would be significantly greater. Yes, Coastal would still provide sodas, because the profits would be almost the same. O No, Coastal would no longer provide sodas, because the profits would be significantly less.Calendar X A Final Exam Review - 1320 - M X Course Hero x + C webassign.net/web/Student/Assignment-Responses/submit?dep=25947248&tags=autosave#question4916124_21 A :: Apps M SIMnet - Keep IT... Legal Environme Cavas Meeting | Micros... Login MindTap - Cenga... CengageNOWv2... My Home M SIMnet - Assign... Course Hero 7. [-/1 Points] DETAILS HARMATHAP12 11.2.047. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Suppose that the total cost in dollars of producing x units of a product is given by C(x) = 15,000 + 25xe*/800 Find the marginal cost when 800 units are produced. (Round your answer to the nearest cent.) $ Need Help? Read It Watch It 8. [-/1 Points] DETAILS HARMATHAP12 10.2.017. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Consider the following. 1x3 - 3x2 + 8x + 1 Find the relative maxima, relative minima, and points of inflection. (If an answer does not exist, enter DNE.) relative maxima (x, y ) = ( relative minima ( x , y ) = points of inflection ( x, y ) = ( Sketch the graph of the function. y 10/ 10 10Calendar X A Final Exam Review - 1320 - M X Course Hero X + C webassign.net/web/Student/Assignment-Responses/submit?dep=25947248&tags=autosave#question4916124_21 A : : Apps M SIMnet - Keep IT... Legal Environme Cavas Meeting | Micros... Login MindTap - Cenga... CengageNOWv2... My Home M SIMnet - Assign... Course Hero 9. [-/1 Points] DETAILS HARMATHAP12 10.2.037. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Suppose that the total number of units produced by a worker in t hours of an 8-hour shift can be modeled by the production function P(t). P(t) = 9t + 3+2 - +3 (a) Find the number of hours before production is maximized. t = hr (b) Find the number of hours before the rate of production is maximized. That is, find the point of diminishing returns. t = hr Need Help? Read It Watch It 10. [-/1 Points] DETAILS HARMATHAP12 12.2.047.MI. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Suppose that the marginal revenue for a product is given by -46 MR + 46 (2x + 1)2 where x is the number of units and revenue is in dollars. Find the total revenue, R(x). R(X ) = Need Help? Read It Master It 11. [-/1 Points] DETAILS HARMATHAP12 12.4.003.MI. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHERCalendar X A Final Exam Review - 1320 - M X Course Hero X + C webassign.net/web/Student/Assignment-Responses/submit?dep=25947248&tags=autosave#question4916124_21 A :: Apps M SIMnet - Keep IT... Legal Environme Cavas Meeting | Micros... Login MindTap - Cenga... CengageNOWv2... My Home M SIMnet - Assign... Course Hero 13. [-/1 Points] DETAILS HARMATHAP12 12.4.007. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Cost, revenue, and profit are in dollars and x is the number of units. A firm knows that its marginal cost for a product is MC = 2x + 25, that its marginal revenue is MR = 55 - 4x, and that the cost of production of 100 units is $12,680. (a) Find the optimal level of production. units (b) Find the profit function. P (X ) = (c) Find the profit or loss at the optimal level. There is a ---Select--- v | of $ Need Help? Read It 14. [-/1 Points] DETAILS HARMATHAP12 13.4.023. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER In this problem, p is in dollars and x is the number of units. If the demand function for a product is p = 12/(x + 1) and the supply function is p = 1 + 0.2x, find the consumer's surplus under pure competition. (Round your answer to the nearest cent.) $ Need Help? Read It 15. [-/1 Points] DETAILS HARMATHAP12 13.4.021. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHERCalendar X A Final Exam Review - 1320 - M X Course Hero x + C webassign.net/web/Student/Assignment-Responses/submit?dep=25947248&tags=autosave#question4916124_21 A : Apps M SIMnet - Keep IT... (_> Legal Environme Cavas Meeting | Micros... Login MindTap - Cenga... CengageNOWv2... My Home M SIMnet - Assign... Course Hero 15. [-/1 Points] DETAILS HARMATHAP12 13.4.021. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER In this problem, p is in dollars and x is the number of units. The demand function for a certain product is p = 121 - x2 and the supply function is p = x2 + 2x + 81. Find the equilibrium point. (x, P) = ( Find the consumer's surplus there. (Round your answer to the nearest cent.) $ Need Help? Read It Watch It 16. [-/1 Points] DETAILS HARMATHAP12 13.4.031. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER In this problem, p is in dollars and x is the number of units. Find the producer's surplus at market equilibrium for a product if its demand function is p = 196 - x2 and its supply function is p = x2 + 12x + 182. (Round your answer to the nearest cent.) $ Need Help? Read It 17. [-/1 Points] DETAILS HARMATHAP12 14.1.036. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER The Kirk Kelly Kandy Company makes two kinds of candy, Kisses and Kreams. The profit, in dollars, for the company is given by P(x, y) = 10x + 6.4y - 0.001x2 - 0.025y2 where x is the number of pounds of Kisses sold per week and y is the number of pounds of Kreams. What is the company's profit if it sells the following amounts? (Round your answers to the nearest cent.) (a) 80 pounds of Kisses and 14 pounds of KreamsCalendar X A Final Exam Review - 1320 - M X Course Hero X + C webassign.net/web/Student/Assignment-Responses/submit?dep=25947248&tags=autosave#question4916124_21 A : Apps M SIMnet - Keep IT... Legal Environme Cavas Meeting | Micros... Login MindTap - Cenga... CengageNOWv2... My Home M SIMnet - Assign... Course Hero 17. [-/1 Points] DETAILS HARMATHAP12 14.1.036. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER The Kirk Kelly Kandy Company makes two kinds of candy, Kisses and Kreams. The profit, in dollars, for the company is given by P(x, y) = 10x + 6.4y - 0.001x2 - 0.025y2 where x is the number of pounds of Kisses sold per week and y is the number of pounds of Kreams. What is the company's profit if it sells the following amounts? (Round your answers to the nearest cent.) (a) 80 pounds of Kisses and 14 pounds of Kreams $ (b) 150 pounds of Kisses and 17 pounds of Kreams $ (c) 0 pounds of Kisses and 256 pounds of Kreams $ Need Help? Read It Watch It 18. [-/2 Points] DETAILS HARMATHAP12 14.2.050. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER Suppose that the profit (in dollars) from the sale of Kisses and Kreams is given by P(x, y) = 30x + 6.3y - 0.001x - 0.045y2 where x is the number of pounds of Kisses and y is the number of pounds of Kreams. Find ap/dy, and give the approximate rate of change of profit with respect to the number of pounds of Kreams that are sold if 100 pounds of Kisses and 17 pounds of Kreams are currently being sold. (Give an exact answer. Do not round.) $ What does this mean? If the number of pounds of Kisses is held constant and the number of pounds of Kreams is increased from 17 to 18, the profit will increase by approximately $ Need Help? Read It Watch ItCalendar X A Final Exam Review - 1320 - M X Course Hero X + C webassign.net/web/Student/Assignment-Responses/submit?dep=25947248&tags=autosave#question4916124_21 A :: Apps M SIMnet - Keep IT... Legal Environme Cavas Meeting | Micros... Login MindTap - Cenga... CengageNOWv2... My Home M SIMnet - Assign... Course Hero 19. [-/1 Points] DETAILS HARMATHAP12 14.3.007. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER The joint cost (in dollars) for two products is given by C(x, y) = 48 + x2+ 3y + 2xy where x represents the quantity of product X produced and y represents the quantity of product Y produced. (a) Find the marginal cost with respect to x if 8 units of product X and 12 units of product Y are produced. Interpret your answer. If y remains at 12, the expected change in cost for a 9th unit of x is this amount. If x remains at 8, the expected change in cost for a 13th unit of y is this amount. If x remains at 12, the expected change in cost for a 9th unit of y is this amount. If y remains at 8, the expected change in cost for a 13th unit of x is this amount. (b) Find the marginal cost with respect to y if 8 units of product X and 12 units of product Y are produced. $1 Interpret your answer. If y remains at 12, the expected change in cost for a 9th unit of x is this amount. O If y remains at 8, the expected change in cost for a 13th unit of x is this amount. If x remains at 12, the expected change in cost for a 9th unit of y is this amount. If x remains at 8, the expected change in cost for a 13th unit of y is this amount. Need Help? Read It 20. [1/1 Points] DETAILS PREVIOUS ANSWERS HARMATHAP12 9.5.005. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER