Estimate the production level that maximizes profit

Assignment Help Mathematics
Reference no: EM131045163

Question 1:

(a) Estimate the marginal cost and marginal revenue when 1400 units are produced. At this level, should production be increased?

Yes, production should be increased.

No, production should not be increased.

(b) Estimate the production level that maximizes profit for the company.

Question 2:

A car-detailing service estimates that its daily cost of waxing q cars is

C(q) = 0.09q2 + 39q + 380.

If the service collects $55 for each car waxing, find the number of cars the service should wax daily in order to maximize profit.

Write an equation for a cost function where the fixed costs are $1800 and the variable costs are $5 per unit.

Reference no: EM131045163

Questions Cloud

What is the difference between the command df and command du : What is the difference between the command df and the command du? Provide a scenario where a system administrator would use each.
Develop most of your cost estimates : The contract on which you are bidding is the largest in your company's history and will involve about 20 sensors. Below are your historical records on installing these types of sensors.
Director and officer of deep hole oil company : Tanaka, a director and officer of Deep Hole Oil Company, telephoned Romani for the purpose of buying two hundred shares of Deep Hole Company stock owned by Romani. During the period of negotiations, Tanaka concealed his identity and did not disclo..
Both the registration statement and the prospectus : Nova, Inc., sought to sell a new issue of common stock. It registered the issue with the Securities and Exchange Commission but included false information in both the registration statement and the prospectus. The issue was underwritten by Omega &..
Estimate the production level that maximizes profit : Write an equation for a cost function where the fixed costs are $1800 and the variable costs are $5 per unit - Estimate the production level that maximizes profit for the company.
What percentages of actively managed mutual funds : In a typical year, what percentages of actively managed mutual funds are able to outperform their benchmarks? Why do many portfolio managers still utilize fundamental analysis in selecting stocks when the Efficient Market Hypothesis says that it's no..
Coefficient of determination adjusted for degrees of freedom : MAE 256 Analytical Methods in Economics and Finance. What is the coefficient of determination adjusted for degrees of freedom (R-2)? What do this statistics tell you about the regression equation
Annual ordering cost of the post card inventory : Post Card Depot, an large retailer of post cards, orders 6,852,820 post cards per year from its manufacturer. Post Card Depot plans on ordering post card 15 times over the next year. Post Card Depot receives the same number of post cards each time it..
Discuss any follow-up to determine effectiveness of decision : Describe the alternative solutions to the problem. Discuss which alternative you selected and why. Discuss any follow-up to determine effectiveness of decision.

Reviews

Write a Review

Mathematics Questions & Answers

  List the coefficient coding for the given contrasts

List the coefficient coding for the given contrasts

  Determine the best shape for containers

You have been asked to determine the best "shape" for containers - in other words, can you determine which containers (regular prisms or cylinder) hold 20 ounces but can be produced at the best price.

  Straight-line-double-declining balance

Cutter Enterprises purchased equipment for $72,000 on January 1, 2006. The equipment is expected to have a five-year life, with a residual value of $6,000 at the end of five years.

  Compute the surface integral for the cylinder

Imagine yourself as the manufacturer of Quaker Oats. Quaker Oats are packaged in cylinders. Compute the surface integral for the cylinder

  What is the probability of selecting a freshman

Adams High School has 151 freshman, 198 sophomores, 221 juniors, and 242 seniors. If two students are selected at random without replacement, what is the probability of selecting a freshman on the first selection and a senior on the second selecti..

  Differential equations for the functions

Determine the equation for 9(t) thus obtaining differential equations for the functions x(t) and y(t). What initial conditions do these functions satisfy at t = 0?

  What was the amount of each loan

Cole's student loans totaled $31,000. One of his loans was at 2.8% simple interest and the other at 4.5%. After one year, Cole owed $1024.40 in interest. What was the amount of each loan.

  Explain how the values of the slope affect the overall

Then explain how the values of the slope affect the overall meaning of the equation.

  What percentage of meals had less than 10 grams of fat

In a study of 400 meals served at 75 campus cafeterias, 20 had less than 10 grams of fat but not less than 350 calories; 6 had less than 350 calories but not less than 10 grams of fat; 186 had over 350 calories and over 10 grams of fat.

  How far from home is ben

rosa works due north of home. her husband works due east. they leave for work at the same time. by the time rosa is 7 miles from home, the distance between them is one mile more than bens distance from home. how far from home is ben?

  Find and classify all mins and maxs of the function

find and classify all mins and maxs of the function f(x,y) = 6 + x3 - 3xy + y3 on the region given by -3 ≤ x ≤ 3 and -3 ≤ y ≤ 3. Remember to check the boundaries.

  How many boxes the the group sell

Elena sold 87 boxes of girlscout cookies, she was told that this amount represented 5% of the troops sale. how many boxes the the group sell?

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