The demand equation for a quantity q of a product at price p, in dollars, is p

Question:

The demand equation for a quantity q of a product at price p, in dollars, is p = −5q + 4000. Companies producing the product report the cost, C, in dollars, to produce a quantity q is C = 6q + 5 dollars.
(a) Express a company’s profit, in dollars, as a function of q.
(b) What production level earns the company the largest profit?
(c) What is the largest profit possible?

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

Step by Step Answer:

Related Book For book-img-for-question

Applied Calculus

ISBN: 9781119275565

6th Edition

Authors: Deborah Hughes Hallett, Patti Frazer Lock, Andrew M. Gleason, Daniel E. Flath, Sheldon P. Gordon, David O. Lomen, David Lovelock, William G. McCallum, Brad G. Osgood, Andrew Pasquale

See More Books

Question Posted: Apr 11, 2023 03:35 AM

See More Questions

The demand equation for a hair dryer is p = 42 (0.001x + 2, where x is the number of units demanded per day and p is the price per unit. Find the demand when the price is set at $29.95?
Consider the following information which relate to a three-product firm Product Alpha Beta Gamm Sales 6000 5000 4000 Unit Selling price 5 6 15 Unit Variable Cost 3 2 8 Fixed Expenses 30,000 Required;...
8 D D D D P P P P P P P P P P P 10 Functions What is defusion. What is osnosis What is Tornicity The power house of the cell functions of the plasma? What is facilitated defusion? do they need ATP?...
Refer to the Allegra Data Set. Calculate the DVR projects payback period. If the DVR project had a residual value of $100,000, would the payback period change? Explain and recalculate if necessary....
Suppose that you have a fair coin and you label the head side as 1 and the tail side as 0. a. Now, you are asked to flip the coin 2 times and write down the numerical value that results from each...
Gender in the Rock and Roll Hall of Fame From its founding through 2015, the Rock and Roll Hall of Fame has inducted 303 groups or individuals. Forty-seven of the inductees have been female or have...
Wasik Company had the following inventory balances at the beginning and end of August 2010: All raw material is direct to the production process. The following information is also available about...
What role do mentors play in engendering a culture of continuous learning and self-reflection among mentees, thereby instilling a growth mindset that propels individuals towards the forefront of...
Find all critical points and then use the first-derivative test to determine local maxima and minima. Check your answer by graphing. f(x) = (x 3 8) 4
Cell membranes contain ion channels. The fraction, f, of channels that are open is a function of the membrane potential V (the voltage inside the cell minus voltage outside), in millivolts (mV),...
Which of the following conditions most likely would pose the greatest risk in accepting a new audit engagement? a. Staff will need to be rescheduled to cover this new client. b. There will be a...
What guidelines should be followed when planning and incorporating visuals into a presentation?
Write an email to your instructor summarizing your progress on your report. In the introductory paragraph, summarize your progress in terms of your schedule and your goals. Under the heading Work...
What are three guidelines for delivering in-person presentations and three guidelines for delivering virtual presentations?
What are some things a person can do to mitigate fear when preparing and delivering an oral presentation?
What is the role of networking and internships when you are looking for a job?
Let y 1 , y 2 , . . . , y n be a random sample from the continuous pdf f Y (y; 1 , 2 ). Let 2 = 1/n Show that the solutions of the equations E(Y) = y and Var(Y)= 2 for 1 and 2 give the same...
Do public and private companies follow the same set of accounting rules? Explain.
Provide a 95% CI for the estimate in Problem 7.81? Infectious Disease Concurrent sexual partnerships are widely believed to be one of the main drivers of the HIV epidemic in sub-Saharan Africa. F....
Give an estimate for the incidence of HIV per 100 person-years among women who reside in neighborhoods with above-median numbers of sexual partners among men, and an estimate for the 5-year...
Answer Problem 7.79 for mean BMD at the femoral shaft? Table 7.10 Itching scores reported by participants a Itching score left eye itching score right eye. Eye Difforence Subject L. -1 3 4 3 -2 4 3...
Erin and Steve contributed cash in the amount of $700 to their church in 2021. They do not have enough deductions to itemize on Schedule A, so they will take the Standard Deduction. How much can Erin...
Amy Chua discusses a generational decline. Explore this cause/effect relationship. Do you think she's right?
Dan and Leo agree to buy and sell "groceries and sundries" from Public Growers, Inc. in their stores. The five-year contract does not define groceries and sundries, but the parties agree the number...

The demand equation for a quantity q of a product at price p, in dollars, is p

Question:

Step by Step Answer:

a In dollars the revenue earned is R pq 5q 400...View the full answer

Applied Calculus

Students also viewed these Mathematics questions