Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Question 3 General poultry is a local poultry business and has hired MaxiAgri to analyze their production process and provide feedback to be presented to

image text in transcribed

Question 3 General poultry is a local poultry business and has hired MaxiAgri to analyze their production process and provide feedback to be presented to the board at the AGM. The following information was prepared. The supply function of chickens is represented by P=32Q +20 and the demand function of chickens by the equation P=180-8Q. The total revenue function and total costs function of the company are given below. Total Costs = -2000? +92004 - 29003-475 Total Revenue 4000 + 90004 Given the above information answer the following questions: i. Sketch the demand and supply functions and determine their equilibrium point. [3] Calculate the marginal revenue and marginal costs. [2] ii. iii. Calculate the profit function and derive the marginal profit. [3] iv. Calculate the breakeven point [2] V. Determine total costs and total revenue when the quantity produced is 100 units [2] vi. Assuming that the monthly marginal cost for chickens in May 2021 was MC = x + 90 and that fixed costs were BWP 250. What was the total cost function for May 2021? [2] Define the limit, range and domain of a function. [6] i)

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_2

Step: 3

blur-text-image_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

IT Auditing Using Controls To Protect Information Assets

Authors: Chris Davis, Mike Schiller, Kevin Wheeler

3rd Edition

1260453227, 978-1260453225

More Books

Students also viewed these Accounting questions