Question: A commodity has a demand function modeled by p = 106 - 0.5x and a total cost function modeled by C = 40x + 39.75,

A commodity has a demand function modeled by p = 106 - 0.5x and a total cost function modeled by C = 40x + 39.75, where x is the number of units. (a) What unit price (in dollars) yields a maximum profit? $ per unit (b) When the profit is maximized, what is the average cost (in dollars) per unit? (Round your answer to two decimal places.) $ per unit

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!

A commodity has a demand function modeled by p = 124 - 0.5x and a total cost function modeled by C = 40x + 33.75, where x is the num (a) What unit price (in dollars) yields a maximum profit? $ per...

A commodity has a demand function modeled by p = 106 0.5 x and a total cost function modeled by C = 30 x + 31.75, where x is the number of units .(a)What unit price (in dollars) yields a maximum...

No further additions Final Exam Review Lab - MAT 26 X + O webassign.net/web/Student/Assignment-Responses/submit?dep=23683009&tags=autosaver... Q Find the length and width of a rectangle that has the...

No further information 26. -/2 POINTS LARAPCALC10 3.4.003. MY NOTES Find the length and width of a rectangle that has the given area and a minimum perimeter. Area: 81 square feet length feet (smaller...

A commodity has a demand function modeled by p = 118 - 0.5x and a total cost function modeled by C = 40x + 35.75, where x is the number of units. (a) What unit price (in dollars) yields a maximum...

I don't know where to start on this one, please help 2. -12 POINTS LARAPCALC10 3.5.016.MI. A commodity has a demand function modeled by p = 114 - 0.5x and a total cost function modeled by C = 40x +...

A commodity has a demand function modeled by p = 106 0.5 x and a total cost function modeled by C = 30 x + 31.75, where x is the number of units .(a)What unit price (in dollars) yields a maximum...

This question has several parts that must be completed sequentially. If you skip a part of the question, you will not receive any points for the skipped part, and you will not be able to come back to...

A commodity has a demand function modeled by p= 35 -0.5x, and a total cost function modeled by C = 8x + 34. (a) What price yields a maximum profit? $ X per unit (b) When the profit is maximized, what...

Please show all work including algebra. Thank you. 12 Find the value of dy when 2 = 3 and do = ool for fcX ) = 5x- 3 . compare this with the value of by when x = 3 and AM = 0. 01 13 A commodity has a...

Hare Manufacturing Company makes wax for automobiles. As part of overall planning, a cash budget is prepared quarterly each year. You have been asked to assist in preparing the cash budget for the...

What procedures do auditors employ to obtain evidence of the cost of investments? Investment gains and losses? Investment income?

Which of the following was allegedly run by the U . S . National Security Agency ( NSA ) and was designed to leverage secret Internet servers for hacking into the systems of carefully selected...

Task 5: The Saskatoon drive-through facility for COVID-19 vaccination administers Pfizer vaccines on Fridays, Saturdays, and Sundays. Based on the following data of the last three weeks, the facility...

1. There are two purposes in this chapter. The first is to break out of habits that have a limiting effect on ones own ability to change. Secondly, it is to understand how the cleaning affects the...

Values: What is important to me?