Suppose that the marginal cost for x units of a product is MC = 4x + 50,
Question:
Suppose that the marginal cost for x units of a product is M̅C̅ = 4x + 50, the marginal revenue is M̅R̅ = 500, and the cost of the production and sale of 10 units is $1000. What is the profit function for this product?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 55% (9 reviews)
MC 4x 50 MR 500 C10 1000 C ...View the full answer
Answered By
Utsab mitra
I have the expertise to deliver these subjects to college and higher-level students. The services would involve only solving assignments, homework help, and others.
I have experience in delivering these subjects for the last 6 years on a freelancing basis in different companies around the globe. I am CMA certified and CGMA UK. I have professional experience of 18 years in the industry involved in the manufacturing company and IT implementation experience of over 12 years.
I have delivered this help to students effortlessly, which is essential to give the students a good grade in their studies.
3.50+
2+ Reviews
10+ Question Solved
Related Book For
Mathematical Applications For The Management, Life And Social Sciences
ISBN: 9781337625340
12th Edition
Authors: Ronald J. Harshbarger, James J. Reynolds
Question Posted:
Students also viewed these Mathematics questions
-
Suppose the weekly marginal revenue function for selling x units of a product is given by the graph in the figure. (a) At each of x =150, x = 250, and x = 350, what is happening to revenue? (b) Over...
-
Suppose that the marginal cost for a certain product is given by MC = 1.02(x + 200)0.02 and marginal revenue is given by MR = (2 / 4x + 1) + 1.75, where x is in thousands of units and revenue and...
-
If the marginal cost for x units of a product is MC=3+60(x+1) ln (x+1) dollars per unit and if the fixed cost is $2000, find the total cost function.
-
(a) A circular diaphragm 60 cm in diameter oscillates at a frequency of 25 kHz as an underwater source of sound used for submarine detection. Far from the source, the sound intensity is distributed...
-
Authentication mechanisms are divided into three categories: Something the user knows, something the user has, and something the user is. Imagine an authentication system that uses a combination of...
-
Brecker Inc., a greeting card company, had the following statements prepared as of December 31, 2020. Additional information: 1. Dividends in the amount of $6,000 were declared and paid during 2020....
-
Proof test recommendations from a device manufacturer are often published in what document?
-
You will receive $6,800 three years from now. The discount rate is 10 percent. a. What is the value of your investment two years from now? Multiply $6,800 .909 (one years discount rate at 10...
-
contains only direct materials. Compute the Cost of Goods Manufactured and Cost of Goods Sold for West Nautical Company for the most recent year using the amounts described next. Assume that Raw...
-
A rapidly growing city is dedicated to neighborhood integrity. However, increasing traffic and speed on a through street are of concern to residents. The city manager has proposed five independent...
-
Evaluate the integrals in Problem. Check your answers by differentiating. (17 + x 3 ) dx
-
Evaluate the integrals in Problem. dz 4z + 1
-
An owl is carrying a mouse to the chicks in its nest. Its position at that time is 4.00 m west and 12.0 m above the center of the 30.0 cm diameter nest. The owl is flying east at 3.50 m/s at an angle...
-
Fill in the blank field in this text: You use the[1]_______________________ tool to load and insert RPC people.
-
Loadable Families are typically preferred over in-place Families. A) True B) False
-
A Revit project can only have two phases: Existing and New Construction. A) True B) False
-
It is possible to specify if a parameter is an instance or type while in the process of creating it. A) True B) False
-
It is not possible to make one parameter to always be one half the size of another. A) True B) False
-
As at December 31, 2017, Bajac Inc. has the following balances: cash in bank, $108,000; investment in preferred shares (retractable, purchased by Bajac within 90 days of maturity date), $120,000;...
-
TRUE OR FALSE: 1. Banks with a significantly large share of fixed-interest rate home loans are less exposed to interest rate risks. 2. Although Australian banks are pretty big, they are not...
-
Given the following statistics from a matched pairs experiment, perform the Wilcoxon signed rank sum test to determine whether we can infer at the 5% significance level that the two population...
-
Use the sign test on the following data to determine whether the location of population 1 is to the right of the location of population 2. (Use α = .05.) Pair: Sample 1 5 3 4 2 3 4 3 5...
-
A matched pairs experiment yielded the following results: Positive differences: 18 Zero differences: 0 Negative differences: 12 Can we infer at the 5% significance level that the location of...
-
12. An amusement park ride swings riders around a 25 meter radius circle at a speed of 16 m/s. What is the centripetal acceleration in meters per second-squared felt by each rider? (Answer with 3...
-
For the image matrix given , use the Sobel horizontal edge detector to 1 2 -2 detect horizontal edges. Sobel matrix for horizontal edges is 0 0 104
-
What role does a resource allocation graph play in identifying potential deadlocks, and how can it be utilized to devise strategies for deadlock prevention ?
Study smarter with the SolutionInn App