Question: Optimization: Marginal Analysis-Quantity Determination, Profit Maximization Given the following information, please state your suggestions: Price Quantity Total Revenue Total Cost 76 1 212 73 2

Optimization: Marginal Analysis-Quantity Determination, Profit Maximization Given the following information, please state your suggestions:

Price Quantity Total Revenue Total Cost

76 1 212

73 2 191

68 3 171

64 4 155

62 5 144

59 6 139

56 7 143

53 8 165

51 9 189

49 10 220

47 11 261

45 12 307

43 13 362

a. What will be the quantity that you will suggest to produce for reaching the optimization point (in resource allocation)? Please specify your decision rule and present thenumber to support your decision (Must show your calculation steps and explain)

b. Please draw a figures/graphs to show your TC, TR, MR, MC and explain how you determine your optimal quantity to produce the output based on your graph).

c. What will be the profit amount when the resource allocation decision is optimized (at what quantity or quantities)?

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 Economics Questions!

Optimization: Marginal Analysis-Quantity Determination, Profit Maximization Given the following information, please state your suggestions: Price 76 73 68 64 62 59 56 53 51 49 47 45 43 Quantity 1 2 3...

A) 7.86% B) 9.43% C) 8.17% D) 4.67% E) 5.90% 133) What is the expected return on a portfolio that is equally weighted between Stocks M and N given the following information? State of Economy...

The statement of cash flows for Baldwin Company shows what happens in the Cash account during the year. It can be seen as a summary of the sources and uses of cash (sources of cash are added, uses of...

Please provide me answers to the questions on Final round based on the information on round 4 results. 1. Which of the following statements would BEST characterize an individual who is culturally...

1. Calculate the cost of each capital component, after-tax cost of debt, cost of preferred, and cost of equity with the DCF method and CAPM method. 2. What do you estimate the company?s WACC? Please...

Please do these questions: -What sources of value most plausibly account for the differences between buyer and seller? -Structure and execute a discounted cash flow valuation of all of the MW...

Please answer this question.. Very easy. -What sources of value most plausibly account for the differences between buyer and seller? -Structure and execute a discounted cash flow valuation of all of...

Scenario/Summary Hopefully you will find this week's iLab activity fun and useful. We'll be exploring the world of statistics from a business perspective this week, allowing you to practice your...

1 2 3 4 7 8 9 12 13 14 15 16 17 18 19 20 21 22 23 24 28 29 30 31 38 40 41 44 47 48 49 50 51 62 63 64 66 67 68 69 70 71 73 74 76 77 78 79 80 81 82 85 86 87 88 89 90 91 92 93 94 95 99 100 101 104 105...

Dear Friends, I need the solution by today 11.00 PM. Its really important. I dont have lot of funds. I can only pay $10. Max Harvard Business School 9-292-140 June 12, 1992 Arundel Partners: The...

Derive the following relationship: n=40/dinl/dV using Shockley's equation for a double crystal?

Find the expected return of the project Your firm is considering a new project to facilitate automated POS systems. The initial upfront costs will be $395,000. The project is expected to yield...

CA17.2 (LO 2) (Satisfying Performance Obligations) Judy Schaeffer is trying to understand the revenue recognition principle as it relates to the five-step revenue recognition process. Instructions a....

DOW Chemicals plant claims they now go beyond the Federal and Provincial requirements, and that they have gone a long way when it comes to sustainability in Sarnia. the company wants to open another...

1. To provide an understanding that social facts are mentally constructed and do not exist as an objective reality.

7. Give examples of the following when you formulate a social problem or phenomenon: a) When you generalize from reality. b) When you choose something from social reality and do not choose some-thing...

5. Give examples of binary thinking.