Determining the level of production
Problem: It costs Dan's company C(x) = x^2 - 3x + 64 dollars to produce x items. The selling price (p) when x hundred units are produced is p(x) = (44 - x)/4. Determine the level of production (# of items produced) that maximizes profit.
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There are certain big questions that philosophers have been puzzling over for centuries. Amazingly, many people ask these same questions in daily life. Reflect on these questions as related to each of the 6 branches of philosophy below.
Supose this firm is operating in a perfectly competitive market as price taker. If the market price is $90, in the short run, this firm should:
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Task: Suppose three firms face the same total market demand for their products. The demand is: Suppose further that all three firms are selling their product for $60 and each has about one-third of the total market.
It costs Dan's company C(x) = x^2 - 3x + 64 dollars to produce x items. The selling price (p) when x hundred units are produced is p(x) = (44 - x)/4. Determine the level of production (# of items produced) that maximizes profit.
Consumer buying decisions are determined by different factors among these factors are Socio-cultural factors. Social-cultural factors refer to matters pertaining family and their social class, group preferences, etc.
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The Demand Function for a product can be as Q=400-2P. We would have a fixed cost for this product as 200 and our variable costs are 0.5 per unit. Please let me know the equation for the profit.
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