Develop the nonlinear profit function

Assignment Help Business Management
Reference no: EM132944421

The ABC Furniture Company makes chairs. The fixed cost per month of making chairs is $6,500, and the variable cost per chair is $40. Price is related to demand, according to the following linear equation:

v = 200 - 1.2p

Develop the nonlinear profit function for this company and determine the price that will maximize profit, the optimal volume, and the maximum profit per month. Graphically illustrate the profit curve developed in Problem 1. Indicate the optimal price and the maximum profit per month.

Reference no: EM132944421

Questions Cloud

Why do managers plan for organization : Instruction: D.o a re.sear.ch on each of the 4topics. Answer the following questions based on what yo.u have read
Identify inappropriate treatment and the principle violated : Identify the inappropriate treatment and the principle(s) violated. Mawani's balance sheet showed accounts receivable of $95,000.
Prepare and present the custard : List the equipment required to prepare and present the custard. Include size or dimensions if appropriate.
Discuss most appropriate accounting standards to use: ifrs : Discuss the most appropriate accounting standards to use: IFRS, U.S GAAP, Canadian ASPE, or DBA. Also indicate the most appropriate presentation currency
Develop the nonlinear profit function : The ABC Furniture Company makes chairs. The fixed cost per month of making chairs is $6,500, and the variable cost per chair is $40. Price is related to demand,
Calculate availability period of the automobile to farida : Calculate the availability period of the automobile to Farida. Farida was provided with a company-owned automobile on May 15 and had full access.
What the percentage change in the direct quote is : The inflation rate in US is 5% and the inflation rate in Kenya is 10%. The percentage change in the direct quote and the new exchange rate are
Determine the best organizational structure : Determine the best organizational structure, would you recommend a mechanistic or an organic structure for Freight Services and why
Components of a pestel analysis : The Components of a Company's Macro-Environment and taking into account the six components of a PESTEL analysis, describe and defend which factors might influen

Reviews

Write a Review

Business Management Questions & Answers

  Write a paper on problems of climate change in north america

Write a 1500 word Geography paper on The problems of climate change in North America.

  Implement retrenchment strategyimagine that you are a ceo

implement retrenchment strategyimagine that you are a ceo for a large business. your strategic planning team has just

  Mobile healthcare related applications

Search the web or professional magazines or bulletins about four mobile healthcare related applications that may help individuals get better healthcare

  Responding officer to any crime scene

How important is it that this officer is an effective note taker? What other responsibilities besides gathering information does the first responding officer.

  Ford mustang is driving the creative advertisement

Do you trust that Ford Mustang is driving the creative advertisement commercials right during as well as after the fox shows, the OC, House

  Native corporation system

The Alaska Native Regional Corporations (ANCSA) and the Native corporation system have been good for Alaska Natives.

  Describe the issues which an operational manager

Describe the issues which an operational manager must address in order to build agreement for budgets and financial plans

  What effect will changes in the american family

What effect will changes in the American family have on your place of employment

  How will planning for equipment capacity needs been done

How will planning for equipment capacity needs been done if you use a forecast-based system versus a demand management (JIT) -based system?

  Impact of these trends in hr management

Summarize the impact of these trends in HR Management. Cite outside sources according to APA formatting guidelines

  Differing approaches to political theory

What are the advantages and disadvantages of the differing approaches to political theory?

  Create a competitive advantage as a result

The Panama Canal is undergoing a major widening. As a port owner/administrator what would you do to create a competitive advantage as a result of the widening and the post-Panamax hulls?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd