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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
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)
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