A restaurant sells x hamburger per week. Assume that the weekly cost and demand equations C(x) =

Fantastic news! We've Found the answer you've been seeking!

Question:

A restaurant sells x hamburger per week. Assume that the weekly cost and demand equations

C(x) = 1.1x + 300

p(x) = 5 - 0.03x 0 ? x ? 1,000

Find the number of hamburgers that the restaurant should sell and the price that the restaurant should charge for each hamburger to maximize the profit.

Related Book For answer-question

Microeconomics An Intuitive Approach with Calculus

ISBN: 978-0538453257

1st edition

Authors: Thomas Nechyba

See More Books

Posted Date: Feb 16, 2024 01:00 AM

See More Questions

KYC's stock price can go up by 15 percent every year, or down by 10 percent. Both outcomes are equally likely. The risk free rate is 5 percent, and the current stock price of KYC is 100. (a) Price a...
Economic Rent and Profiting from Entrepreneural Skill: Suppose, as in exercise 14.4, that you are operating a hamburger restaurant that is part of a competitive industry. Now you are also the owner,...
Brand Names and Franchise Fees: Suppose you are currently operating a hamburger restaurant that is part of a competitive industry in your city. A: Your restaurant is identical to others in its...
Manual programming for the following picture : 3.000 2.250 1.500 .750 PART#:00002 ZEE & SLOTS (MANUAL PROGRAMMING) 5.0 REF. .500 5 1.375 3.000 2.250 TITLE: PART#: 00002 (ZEE & SLOTS) DRAWN BY:...
When U.S. energy use per dollar of GDP is indexed to 1980, that energy use for any year is viewed as a percent of the use per dollar of GDP in 1980. By using U.S. Department of Energy data for...
Suppose that Country X subsidizes its exports and Country Y imposes a countervailing tariff that offsets the subsidys effect, so that in the end, relative prices in Country Y are unchanged. What...
Which costing system is most likely to produce the least cost distortion? a. Traditional costing system b. Plantwide overhead rate c. Departmental overhead allocation rates d. Activity-based costing
Some people believe that the audit industry has fallen out of touch with the realities of business. They believe that accounting standards were developed for a manufacturing environment and are not...
At a fundamental level, all input ( as well as output ) is done on a character - by - character basis. A . True B . False
Of all the price analysis methodologies that exist, which are the foundational methods. Longing & Shorting. Trading & Investing. Volume & sentiment. On-chain & Macroeconomic. Mean reversion &...
If P(c) = 0 then x + c is a factor of the polynomial P(x) %3D O True O False
Given the following specifications, determine using the monostatic radar equation based entity required. Appropriate graphical data-sheets are supplied and assume ko 1.3806488 x 1023 m kg s K as for...
A test tube contains 2.49x10-4 m of liquid carbon tetrachloride (3= 1240x106 (C)-) at a temperature of 72.0C. The test tube and the carbon tetrachloride are cooled to a temperature of -19.0C, which...
1. Tony stark is trying to talk pepper Potts into attending an event with him. Pepper does not want to attend because she feels that she and will be much older than most of the younger crowd...
Fickle Sickles collects 15,000 checks per 365-day year with average amount $170 and total delay 5 days. A lockbox system would reduce that delay to 3 days, and it would also reduce FISI's check...
- Fine office company produces two products P100 and P200. - Sales price per P100 is 660. - sales price per P200 is 759. There are 800 units from P100 in finished goods inventory at the end of 2020...
On 1 September 2015, David borrowed RM7500 from a financial institution, with interest 5.6% compounded quarterly. He paid RM1200 on 1 March 2016, and RM2000 on 1 December 2016. What equal payments on...
Why is it necessary to study the diffusion of molecules in biological systems?
As we have suggested in the chapter, it is often important to know whether workers will work more or less as their wage increases. A. In each of the following cases, can you tell whether a worker...
When we discussed optimal behavior for consumers in Chapter 6, we illustrated that there may be two optimal solutions for consumers whenever there are non-convexities in either tastes or choice sets....
Table 14.1 was constructed under the assumption that all firms in the industry are identical. A: Suppose that all firms in an industry have U-shaped long run average cost curves. (a) Leaving aside...
A wind turbine works by slowing the air that passes its blades and converting much of the extracted kinetic energy to electric energy. A large wind turbine has 45-m-radius blades. In typical...
You are pulling a child in a wagon. The rope handle is inclined upward at a 60 angle. The tension in the handle is 20 N. How much work do you do if you pull the wagon 100 m at a constant speed?
A typical muscle fiber is 2.0 cm long and has a cross-section area of 3.1 10-9 m 2 . When the muscle fiber is stimulated, it pulls with a force of 1.2 mN. What is the work done by the muscle fiber...

A restaurant sells x hamburger per week. Assume that the weekly cost and demand equations C(x) =

Question:

Expert Answer:

Finding Optimal Hamburgers and Price for Maximum Profit To find the optimal number of hamburgers x a... View the full answer

Microeconomics An Intuitive Approach with Calculus

Students also viewed these economics questions