Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can you provide guidance Problem Set C 1. Digicel's profit function for the sale of S21 is as follows: m(q) = 2q% + 350g 150

Can you provide guidance

image text in transcribed
Problem Set C 1. Digicel's profit function for the sale of S21 is as follows: m(q) = 2q% + 350g 150 The selling price per S21 is given by the function: p = 600 2q Where q represents the number of S21 (in thousands), cost and revenue are in thousand of dollars. Using the information provided above, determine the following: a. Total Cost function. |4 marks] b. Marginal Cost (MC) when 4000 S21 are produced. |2 marks] . Give an interpretation of your answer from Part b. above. [1 mark] d. The number of S21 that must be sold for Digicel to make a Marginal Revenue (MR) of $300,000.00. |4 marks] e. At what level of quantity will the firm maximize its profit. |4 marks] 2. Differentiate the following: 1 a. q(p) =3e2p7s [2 marks] b. y=In(5p~% - %) [4 marks] c. f'(1) = (3*~2p73)In (5p2 /) lionsries] 3. Given Flow's Total Cost function: TC(x) = 2x* 66x% + 576x + 1000 Use the first and second derivative principles to determine the level of output (in thousand) at which the firm's cost is minimized. |8 marks]|

Step by Step Solution

There are 3 Steps involved in it

Step: 1

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

blur-text-image

Step: 3

blur-text-image

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

Interconnection Networks

Authors: J C Bermond

1st Edition

1483295273, 9781483295275

More Books

Students also viewed these Mathematics questions

Question

4-1 scent marketing reaches consumers emotions

Answered: 1 week ago

Question

8. What are the costs of collecting the information?

Answered: 1 week ago