Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

KUKU Steam Power Plant uses biomass for fuel in the production of electricity.The cost in Php per hour to produce electricity is given by 13.5X

KUKU Steam Power Plant uses biomass for fuel in the production of electricity.The cost in Php per hour to produce electricity is given by 13.5X + 12.15X2?, where X is in megawatts. An associated fixed cost of Php 540 per hour was attributed to the administrative expenses of the company. The price for the electricity is determined by X = 75 -0.1p, where p is the price.

a. How much should the power plant supply for it to have the maximum revenue?

b. What is the total revenue of the company when the profit is at its maximum?

C. What is the range of profitable demand?

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

Dynamic Business Law

Authors: Nancy Kubasek

1st Edition

0073524913, 9780073524917

More Books

Students also viewed these Economics questions