Find Related Questions by Tags, levels, etc.
A manufacturer determines that the firm’s Marginal Cost (MC) and Marginal Revenue (MR) functions are:
MC=C′(x) = 100 − 0.1x
MR = R′(x)=100 + 0.1x
You are required to find the:
a. Change in revenue that results when the sales level increases from 20 to 30 units. (5 Marks)
b. Revenue resulting from the sale of 30 units. (5 Marks)
c. Cost of producing 30 units if the fixed cost (at x=0x = 0) is N400. (5 Marks)
d. Total profit when 30 units of the product are sold. (5 Marks)
Find Related Questions by Tags, levels, etc.
a) The marginal revenue function of a manufacturing company is given by:
The marginal cost function is given by:
Let x be the number of items either produced or sold.
Required:
i) Calculate the revenue generated when 50 items are sold. (2 marks)
ii) Calculate the number of items that will yield maximum revenue. (4 marks)
iii) Calculate the total revenue if 100 items are produced. (4 marks)
iv) Calculate the total profit for the 100 items. (4 marks)
v) If a tax of 20% is imposed on each item produced, find the cost of 100 items. (6 marks)
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
A manufacturer determines that the firm’s Marginal Cost (MC) and Marginal Revenue (MR) functions are:
MC=C′(x) = 100 − 0.1x
MR = R′(x)=100 + 0.1x
You are required to find the:
a. Change in revenue that results when the sales level increases from 20 to 30 units. (5 Marks)
b. Revenue resulting from the sale of 30 units. (5 Marks)
c. Cost of producing 30 units if the fixed cost (at x=0x = 0) is N400. (5 Marks)
d. Total profit when 30 units of the product are sold. (5 Marks)
Find Related Questions by Tags, levels, etc.
a) The marginal revenue function of a manufacturing company is given by:
The marginal cost function is given by:
Let x be the number of items either produced or sold.
Required:
i) Calculate the revenue generated when 50 items are sold. (2 marks)
ii) Calculate the number of items that will yield maximum revenue. (4 marks)
iii) Calculate the total revenue if 100 items are produced. (4 marks)
iv) Calculate the total profit for the 100 items. (4 marks)
v) If a tax of 20% is imposed on each item produced, find the cost of 100 items. (6 marks)
Find Related Questions by Tags, levels, etc.
Elevate your professional expertise across key business domains with our comprehensive training programs
Follow us on our social media and get daily updates.
This feature is only available in selected plans.
Click on the login button below to login if you’re already subscribed to a plan or click on the upgrade button below to upgrade your current plan.
If you’re not subscribed to a plan, click on the button below to choose a plan
a
Determine the level of output at which profit is maximized. (6 Marks)