Question: Given cost and price ( demand ) functions Upper C left parenthesis q right parenthesis equals 1 2 0 q plus 4 5 comma 0

Given cost and price(demand) functions
Upper C left parenthesis q right parenthesis equals 120 q plus 45 comma 000C(q)=120q+45,000
and
p left parenthesis q right parenthesis equals negative 1.8 q plus 880p(q)=1.8q+880,
what is the maximum profit that can be earned?
The maximum profit is
$enter your response here

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!

Q:

Given cost and price (demand) functions Upper C left parenthesis q right parenthesis equals 120 q plus 45 comma 000 and p left parenthesis q right parenthesis equals negative 1.9 q plus 900, what is...

Q:

The cost of manufacturing clocks is given by Upper C left parenthesis x right parenthesis equals 56 plus 21 x minus x squared . Also, it is known that in t hours the number of clocks that can be...

Q:

In 2 0 1 2 , 3 4 . 1 % of all glass containers were recycled. A beverage company used 1 5 0 comma 0 0 0 1 5 0 , 0 0 0 lb of glass containers per year. After recycling, the amount of glass, in pounds,...

Q:

Question content area top Part 1 Suppose the weekly cost for the production of x units of a product is given by Upper C left parenthesis x right parenthesis equals 3459 plus 60 ln left parenthesis x...

Q:

Suppose you are asked to analyze a competitive market with identical firms for the government. You estimate the following: Inverse market demand is: p equals 1 0 0 minus 0 . 0 1 Upper Q commap = 1 0...

Q:

The total cost to produce x units of perfume is Upper C left parenthesis x right parenthesis equals left parenthesis 8 x plus 8 right parenthesis left parenthesis 8 x plus 3 right parenthesis . C ( x...

Q:

A firm is in a perfectly competitive industry where the market price for its product is $37 The firm's cost function is: T C left parenthesis Q right parenthesis equals 5 comma 400 plus 10 Q plus...

Q:

A firm is in a perfectly competitive industry where the market price for its product is $37 The firm's cost function is: T C left parenthesis Q right parenthesis equals 5 comma 400 plus 10 Q plus...

Q:

The total cost(in dollars) of producing x college textbooks is Upper C left parenthesis x right parenthesis equals 41 x plus 93 comma 000 C(x)=41x+93,000. (a) What are the fixedcosts? (b) What is the...

Q:

The total cost (in dollars) of producing x college textbooks is Upper C left parenthesis x right parenthesis equals 49 x plus 28 comma 000C(x)=49x+28,000. (a) What are the fixed costs? (b) What is...

Q:

In each case show that 7 is either reflection in a line or rotation through an angle, and find the line or angle. (a)

Q:

If your company (H&R block) opted to pursue a strategy of related diversification, what industries or product categories could it diversify into that would allow it to capitalize on using its...

Q:

Unreturned positive confirmations for accounts receivable warrant which of the following actions? a . Sending second requests and possibly performing subsequent procedures. b . Replacing the sample...

Q:

A large shipment of produce contains Valencia and navel oranges. To determine whether there is a difference in the proportions of non-marketable fruit between the two varieties, random samples of 850...