Which the firm maximizes its total profit

Assignment Help Business Economics
Reference no: EM132006638

Given the following total profit function: π = 144X - 3X^2 - XY -2Y^2 + 120Y -35

1. Determine the level of output of each commodity at which the firm maximizes its total profit

2. Determine the value of the maximum amount of total profit of the firm.

Please explain and show work.

Reference no: EM132006638

Questions Cloud

What is boris unleveraged beta : It has a leveraged beta of 0.6 and is subject to a 0.3 corporate tax rate. What is Boris's unleveraged beta??
Poorer segment of the population : Tax cut is a debatable topic. Does it help or hurt the relatively poorer segment of the population? You can take either side but make sure to substantiate
Explained the business of your choice : Discussion 1 - Draft Contract - In Chapter 20 Business Organizations you picked a Company Name and explained the Business of your choice
Total value of the firm after the repurchase is complete : Given these tax parameters, what should be the total value of the firm after the repurchase is complete?
Which the firm maximizes its total profit : Determine the level of output of each commodity at which the firm maximizes its total profit
Discuss strategy for companies to spend excess cash : Outline one (1) strategy for companies to spend excess cash and maximize the value of that transaction. Provide a rationale for your response.
Level of the costs : Given the following cost function, determine the level of (nonzero) output at which the cost function is minimized, and the level of the costs.
How to manage project risks and opportunities : During this class you will be learning how to manage project risks and opportunities. The risk management process, which is part of the project management.
Sale price assuming simple interest between coupon payments : The bond is sold in 22 months with an annual yield to maturity of 8%. Find the sale price assuming simple interest between coupon payments.

Reviews

Write a Review

Business Economics Questions & Answers

  Qceo of the cola king bottling company is hero nakamura it

q.ceo of the cola king bottling company is hero nakamura it is a small regional producer operating in the pacific

  Average inflation rates tend to be higher in countries

Average inflation rates tend to be higher in countries that have relatively weak judicial systems and property rights (remember chapter 1 and the importance of secure property rights?). Why do you think this is the case? Would you expect these countr..

  Relatively high degree of confidence in the military

The American people express a relatively high degree of confidence in the military as an institution yet express less confidence in Congress than in other major institutions. Could people be holding various institutions to different standards, and if..

  Result of non-negligent defect in instrument supplied

An airplane crashes as the result of a non-negligent defect in an instrument supplied by A. The airplane was manufactured by B from various components, including the instrument from A, and is operated by C, an airline. What economic difference does i..

  Monopoly firm is operating in range of output

When a monopoly firm is operating in a range of output where total revenue is increasing as output increases, then marginal revenue

  Ethical considerations with regard to marketing to children

Describe ethical considerations with regard to marketing to children. When the marketers' pitch includes a cause component, such as a breakfast cereal that promises to provide breakfasts to undernourished school children, explain whether this is e..

  Positive fiscal impact from immigration

Which of the following has a positive fiscal impact from immigration? a) military and veterans spending b) interest paid on the Federal government debt c) the social security program d) K-12 education funded by local property taxes

  The term consumer sovereignty means

How are products to be produced? Who is to decide what and how much to produce? Who is to receive the output of the system? The term "consumer sovereignty" means that: "How is the product to be distributed among people when commodities and services a..

  Suppose the income elasticity of demand for toys

Suppose the income elasticity of demand for toys is +2.0. This means that: If the income elasticity of demand for margarine is -5.00, this means that:

  Jobs consisted of promises of future profit streams

When China reformed state-owned enterprises, it tried a new approach to choosing managers: it put managerial jobs up for auction. The bids for the jobs consisted of promises of future profit streams that the managers would generate and then deliver t..

  Actual price in this market

If the actual price in this market were below the equilibrium price, what would drive the market toward the equilibrium.

  If security is left to the independent decisions of stores

Three stores havea problem with theft, and security is a public good. Let’s use S to stand for the number of person-hours of security patrols per week. The marginal benefit of security patrols to each of the stores is given by the formula MB = 100–2S..

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