If the demand and supply functions for a product are P = 2100 - 10q - 0.5q2

Question:

If the demand and supply functions for a product are P = 2100 - 10q - 0.5q2 and p = 300 + 5q + 0.5q2, respectively, find the tax per unit t that will maximize the tax revenue T.
p is the price per unit in dollars and q is the number of units.

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

Step by Step Answer:

Related Book For book-img-for-question

Mathematical Applications for the Management Life and Social Sciences

ISBN: 978-1305108042

11th edition

Authors: Ronald J. Harshbarger, James J. Reynolds

See More Books

Question Posted: Feb 09, 2018 07:09 AM

See More Questions

If the demand and supply functions for a product are p = 800 - 2q and p = 100 + 0.5q, respectively, find the tax per unit t that will maximize the tax revenue T. p is the price per unit in dollars...
Suppose the demand and supply functions for a product are respectively, where p is in dollars and q is the number of units. Find the tax per unit t that will maximize the tax revenue T, and find the...
The domestic demand and supply functions for a particular type of latex paint are Q d = 14 0.5p and Q s = 4 + p, respectively. The price is measured in dollars per gallon and the quantities are...
In an attempt to prepare propylbenzene, a chemist alkylated benzene with 1-chloropropane and aluminum chloride. However, two isomeric hydrocarbons were obtained in a ratio of 2:1, the desired...
Two thermally insulated vessels are interconnected by a tube equipped with a valve. One vessel of volume V1 = 10 1 contains v = 2.5 moles of carbon dioxide. The other vessel of volume V2 = 100 1 is...
Show that any (nonvertical) straight line through the origin of the xy-plane interects all solution curves of y' = g(y/x) at the same angle.
A thin wire, lying along the x axis, is strained such that each point on the wire is displaced x = kx 2 along the x axis. If k is constant, what is the normal strain at any point P along the wire? x...
Brigman Industries is evaluating its financing requirements for the coming year. The firm has been in business for 1 year, and the CFO expects that the relationship between firm sales and its...
Primare Corporation has provided the following data concerning last month's manufacturing operations. Purchases of raw materials Indirect materials used in production Direct labor $ 30,000 $ 4,790 $...
Using the Journal Entry form, prepare the journal entries for each of the source documents provided below 1. To: YOUR NAME Corporation Date: October 1, 2018 Various people paid YOUR NAME Corporation...
If the daily demand for a product is given by the function p + q = 1000 and the daily supply before taxation is p = q2/30 + 2.5q + 920, find the tax per item that maximizes tax revenue. Find the tax...
If the demand and supply functions for a product are p = 5000 - 20q - 0.7q2 and p = 500 + 10q + 0.3q2, respectively, find the tax per unit t that will maximize the tax revenue T.
You are engaged to audit the Ferrick Corporation for the year ended December 31, 2013. Only merchandise shipped by the Ferrick Corporation to customers up to and including December 30, 2013, has been...
In which of the following phases of a use case driven process do you think use cases have a role? (i) Requirements capture (ii) Analysis (iii) Design (iv) Implementation (a) i, ii, and iii (b) i, ii,...
Define and discuss the important provisions of the typical oil and gas lease.
The behavior of a use case can be described by (a) a specification that is some kind of Behavior such as interactions, activities, and state machines (b) pre-conditions and post-conditions along with...
What is fracking?
Explain the role of a landman in oil and gas operations.
How can organizations reduce bias in performance evaluation?
Experiment: Tossing four coins Event: Getting three heads Identify the sample space of the probability experiment and determine the number of outcomes in the event. Draw a tree diagram when...
Find the dimensions of the rectangle of largest area that can be inscribed in an equilateral triangle of side L if one side of the rectangle lies on the base of the triangle.
Find the dimensions of the rectangle of largest area that has its base on the -axis and its other two vertices above the axis and lying on the parabola y = 8 x2.
Find the dimensions of the isosceles triangle of largest area that can be inscribed in a circle of radius r.
York's outstanding stock consists of 80,000 shares of cumulative 7.5% preferred stock with a $5 par value and also 200,000 shares of common stock with a $1 par value. During its first four years of...
Hudson Community College enrolls students in two departments, Liberal Arts and Sciences. The college also has two service departments, the Library and the Computing Services Department. The usage of...
Robert is designing a new Active Directory Domain Services infrastructure for a company called Litware, Inc., which has its headquarters in New York and two additional offices in London and Tokyo....

If the demand and supply functions for a product are P = 2100 - 10q - 0.5q2

Question:

Step by Step Answer:

After taxation the supply function is p 300 5q 05q 2 t The...View the full answer

Mathematical Applications for the Management Life and Social Sciences

Students also viewed these Calculus questions