Suppose that the cost function of a commodity is C = 3x and the demand function is
Question:
Suppose that the cost function of a commodity is C = 3x and the demand function is p = 10 −3x. The government imposes a sales tax of 25% (to be paid by the purchaser, or course). Find the maximum profit for the producer and the price at which the articles will be sold.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 85% (7 reviews)
Now the consumer must pay 125 of what he previously ...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Mathematics questions
-
Suppose that the cost function of a monopolist changes from c1(y) to c2(y) with 0 < c1(y) < c2 (y) for every y > 0 Show that c2(y1) - c2 (y2) > c1(y1) - c1(y2) (15) where y*1 and y*2 are the profit...
-
Suppose that the cost function for a commodity is C(x) = 300 + 6x + 1/20 x2 dollars (a) Find the marginal cost at x8 units and tell what this predicts about the cost of producing 1 additional unit....
-
The cost function of a product is C = 1009+49 The demand function of that product is P= 300-9. Find maximum profit
-
You are the senior auditor in charge of the December 31, 2018, year-end audit for Cleo Patrick Cosmetics Inc. (CPCI). CPCI is a large, privately held Canadian company that was founded in 1999 by one...
-
A binomial distribution has p = 0.60 and n = 40. a. What are the mean and standard deviation for this distribution? b. What is the probability of exactly 27 successes? c. What is the probability of...
-
Melphalan is a chemotherapy drug used in the treatment of multiple myeloma and ovarian cancer. Melphalan is an alkylating agent belonging to the nitrogen mustard family. Draw a likely mechanism for...
-
The efficiency of an ideal machine is _____
-
A Realtor in Mission Viejo, California, believes that the average price of a house is more than $500 thousand. a. State the null and the alternative hypotheses for the test. b. Open the MV_Houses...
-
A car is traveling around a banked curve with a radius of 100 meters and a banking angle of 30 degrees at a speed of 40 m/s. What is the coefficient of friction between the tires and the road that...
-
Prove generally that when the profit is a maximum, the marginal revenue dR / dx equals the marginal cost.
-
Suppose that the (total) cost of producing x units is C(x) = x 3 15x 2 + 76x + 10 and that the demand function is p(x) = 55 3x. Find the number of units for which the profit will be a maximum.
-
What is the name for the mode corresponding to a natural frequency equal to zero?
-
Identify all intercepts for the following equations a. 3x+4y=12 b. 3y = -4x+6 c. 3x-2=4 d. y=4 e. 2x = 3y f. 0.03x+0.07y = 0.21 6. Determine the slope of the line passing through the points a. (4,-7)...
-
Calculate the Accounts Payable balance. Accounts Payable July 2 $5,000 $5,000 $14,100 July 1 July 20 $12,400 $1,400 July 7 $7,200 July 16 $500 July 24 BALANCE
-
What blueprints do you design for sustainable empowerment, envisioning a future where empowerment is not a fleeting moment but a sustained journey, where the fruits of empowerment are harvested not...
-
The Munro Corporation has guaranteed the payment of interest on the 1 0 - year, first mortgage bonds of the Night Owl Company , an affiliate. Outstanding bonds of the Night Owl Company amount to $ 6...
-
If f(x) = 5 arctan (6x), find f'(x). Find f'(1).
-
We concluded in Exercise 15.3 that the model y = β0 + β1xl + β2x2 + β1x22 + ε might appropriately relate y to x1 and x2. To investigate...
-
Give codons for the following amino acids: (a) Th (b) Asp (c) Thr
-
Give three reasons a researcher might choose to use a single-case design.
-
What are the similarities and differences between cross-sectional, longitudinal, and sequential designs?
-
If the psychology professor in exercise 2 had access to only one section of introductory psychology, describe how she might use a single-group design to assess the effectiveness of weekly quizzes....
-
You are planning to buy a car worth $20,000. Which of the two deals described below would you choose, both with a 48-month term? The dealer offers to take 10% off the price, and lends you the balance...
-
Analysts look for changes in three (3) separate areas at the Monitoring Stage of the portfolio Management Process. REQUIRED: List and describe, these three areas of review at the Monitoring Stage of...
-
Use the currency converter. In your answers, record only the numbers in bold text. Do not round up or down. For example, if the answer is 46.79 552, then record only 46.79. 1 U.S. Dollar =...
Study smarter with the SolutionInn App