Problems on Math Concepts

Econ340: Practice Questions on Review of Math concepts 1. Given the break demand portion: Q = 50 0.5P a) examine the direct of produce Q* and price level, P*, that maximizes center revenue. b) Show that Q* determined in (a) above maximizes, rather than minimizes revenues 2. The Bowden Corporations come variable follow (AVC) persona is given by the following equation (where Q is the number of units produced and sold): AVC = 25,000 virtuoso hundred eightyQ + 0.5Q2 a) Determine the payoff level (Q*) that minimizes AVC. b) How could you know that Q* in part (a) minimizes rather than maximizes AVC? 3. The Bounds Inc. has the following total address (TC) survive (where Q is the number of units produced and sold): TC = 50 + 100Q 6Q2 + 0.5Q3 a) Determine the fruit channelise level (Q*) that minimizes borderline cost (MC). b) How could you know that the value of Q* in part (a) minimizes rather than maximizes MC? 4. A firms demand break is given as follows: Q = 180 2P and its total cost (TC) melt down as: TC = 50 + 100Q 6Q2 + 0.5Q3 a) Determine the level of output Q* that maximizes profits. b) Determine the level of output Q* that minimizes profits. 5. Hameed Electronics Company operates in the highly competitive electronics industry. Prices for its control switches atomic number 18 unchangeable at $100 each.

Engineering estimates indicate that pertinent total and marginal cost dealings for its switch mannikin argon: TC = $500,000 - $25Q + $0.0025Q2 MC = ?TC/?Q = -$25 + $0.005Q (a) direct the output level that will minimize TC. (b) Calculate the output level that will max! imize the companys profit. What is this maximum profit? 6. east aluminium is a manufacturer of aluminum kitchens. Its revenue and cost relations are: TR = $3,000Q - $0.5Q2 and TC = $100,000 + $1,500Q + $0.1Q2 Calculate output, marginal cost, average cost, marginal revenue and price, at the profit-maximizing activity level. 7....If you loss to bunk a full essay, order it on our website: OrderEssay.net

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