Given the following production function ,where x is an input and Q is output.Output sells for $10.00 per unit and inputs (X) are $20.00 per unit.Dtermine the optimal amount of input (X) to use in order to maximize profit.Q=10-.25X^2

Solution Summary

Determine the optimal amount of input (X) to use in order to maximize profit.

An oligopolist, the Bramwell Corporation has estimated its demand function and total cost functions to be as follows:
Q=25-0.05P
TC=700+200P
Quanitites to be used 1 to 14
What will be the price and quantity if Bramwell wnat to
1) MaximizeProfit
2) Maximize Revenue
3) Determine the maximum revenue and the maximum pr

There are only two firms in the widget industry. The total demand for widgets is Q = 30 - 2P. The two firms have identical cost functions:
TC = 3 + 10Q. The two firms agree to collude and act as though the industry were a monopoly. At what price and quantity will this cartel maximizeprofit?

Q2. A firm's profit function is given by:
Profit = 108 + 2X^2 -4 XY + 3Y^2 - 8X - 12Y
Determine:
(a) the values of X and Y that maximizeprofit.
(b) the maximum value of profit.
I've taken the 1st derivate for X & Y, solves for x and equated these two against each other and and get X = 10. Plug this X value in and I get Y

If a chain store manager has been told by the main office that daily profit, "P", is related to the number of clerks working that day, x, according to the equation
P = -25x^2 + 300x. What number of clerks will maximize the profit and what is the maximum possible profit?

Let q = demand for seats on a 500 seat airplane and p = price charged per ticket. Suppose that q = 600 - 3p and let's assume that the unit cost of flying a passenger is $50.00. To maximizeprofit from the flight, the airline should charge how much per ticket?
a, $100
b, $125
c, $150
d, $175

Question: A monopolist faces a marginal revenue function of MR = 20 - Q. The monopolist's marginal cost is $15 at all levels of output. How many units of output should the firm produce in order to maximizeprofits?

A product can be produced at a total cost C(x) = 800 + 100x^2 + x^3 dollars, where x is the number produced. If the total revenue is given by R(x) = 60,000x - 50x^2 dollars, determine the level of production, x, that will maximize the profit. Find the maximum profit.
A hint was given: P(x) = R(x) - C(x), but I still do not

Consider the following LP problem:
maximizeprofit= 5x+6y
subject to: 2x + y _< 120
2x + 3y _< 240
x,y _< 0
The profit for product x is $5 and for product y is $6. To maximizeprofit in this linear program, the solution was to manufacture 30 product x and 60 product y. What is the total prof

If total cost in $ is given by C(x) = 2x^2 + 4x + 50 and total revenue in $ is given by R(x) = 100x where x is units, find the
a. Profit function:
b. Marginal Profit Function:
c. x that maximizes profit:
d: Maximum Profit:

Woodland Instruments, Inc. operates in the highly competitive electronics industry. Prices for its R2-D2 control switches are stable at $100 each. This means that P = MR = $100 in this market. Engineering estimates indicate that relevant marginal cost relations for the R2-D2 model are: MC= $25 + $0.005Q.
Calculate the output