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docker41 [41]
3 years ago
14

An electric power plant uses solid waste for fuel in the production of electricity. the cost Y in dollars per hour to produce el

ectricity is Y=11+0.4X+0.29X2, where X is in megawatts. Revenue in dollars per hour from the sale of electricity is 16X−0.2X2. Find the value of X that gives maximum profit. (Round to two decimal places.)
Business
1 answer:
ELEN [110]3 years ago
5 0

Answer:

The value of X that gives maximum profit is <u>15.92</u>.

Explanation:

Before answering the question, Y and Revenue (R) given in the question are first correctly restated as follows:

Cost = Y = 11 + 0.4X + 0.29X^2 .......................................... (1)

Revenue = R = 16X − 0.2X^2 .............................................. (2)

Differentiating each of equations (1) and (2) with respect to X to obtain marginal cost (MC) and marginal revenue (MR), we have:

dY/dX = MC = 0.4 + 0.58X .................................................. (4)

dR/dX = MR = 16 - 0.4X .......................................................  (5)

In production theory, profit is maximized when MR = MC. Therefore, we equate equations (4) and (5) and solve for X as follows:

0.4 + 0.58X = 16 - 0.4X

0.58X + 0.4X = 16 - 0.4

0.98X = 15.6

X = 15.6 / 0.98

X = 15.92

Therefore, the value of X that gives maximum profit is <u>15.92</u>.

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Based on his investment advisor's guidance, Christopher sold two stocks during 2020. The capital gain on the sale of Magnificent
Mamont248 [21]

Answer:

The question is incomplete since we are not told if the capital gain is a short or long term gain. So I will answer the question in both possible scenarios.

Short term capital gains:

They are taxed as ordinary income, so the net gain = $35,000 - $7,000 = $28,000

Net gain after taxes = $28,000 x (1 - 53.31%) = $13,073.20

Long term capital gains:

They are taxed at a much lower rate that ranges from 0 to 20%. In this case, Christopher is probably taxed at 20%.

Net gain after taxes = $28,000 x (1 - 20%) = $22,400

Explanation:

6 0
3 years ago
An economist studying the market for wild Alaskan salmon determines the price elasticity of supply to be 0.43. a. In this case,
Marina86 [1]

Answer:

A. Inelastic

B. a less than 10% increase in quantity supplied

Explanation:

A supply is inelastic when a percentage change in quantity supplied is less than percentage change in price.

A supply is inelastic if the price elascitiy is less than 1.

4 0
3 years ago
Read 2 more answers
Compensation in the United States is governed by a number of laws that set boundaries for what companies can do. The rules gover
lesya [120]

Answer:

<h3>I don't know otherwise please marks me as brainliests..</h3>
7 0
3 years ago
The price of a large pizza decreased from $18.00 to $14.00. As a result, the quantity demanded of skateboards increased from 330
natta225 [31]

Answer:

a. The percentage change in pizza prices is -25.00%.

b. The percentage change in pizza prices is 5.88%.

c. The cross elasticity of demand for pizza and skateboards is -23.53%.

We follow these steps to arrive at the answer.

<h3>a. Percentage change in price of pizza</h3>

The percentage change in price of pizza using the midpoint formula is:

percentage change in price = ({\frac{P_{2} - P_{1}}{Average price})*100

Average Price = \frac{P_{2} + P_{1}}{2}

In this question, P₁ is $18 and P₂ is $14

Substituting the values in the formula above we get,

Average Price = \frac{14 + 18}{2}

Average Price = \frac{32}{2}

Average Price = 16

percentage change in price = (\frac{14 - 18}{16})* 100

percentage change in price = (\frac{-4}{16}) * 100

percentage change in price = -25%

<h3>b. Percentage change in quantity demanded of skateboards</h3>

The percentage change in quantity of skateboards using the midpoint formula is:

percentage change in quantity = (\frac{Q_{2} - Q_{1}}{Average Quantity})*100

In this question, Q₁ is 330 and Q₂ is 350

Substituting the values in the formula above we get,

Average quantity = \frac{Q_{2} + Q_{1}}{2}

Average quantity = \frac{350 + 330}{2}

Average quantity = 340

percentage change in quantity = (\frac{350 - 330}{340})*100

percentage change in quantity = (\frac{20}{340})*100

percentage change in quantity = 5.8823529%

<h3>c. Cross Elasticity of demand of skateboards and pizza</h3>

We calculate the cross elasticity of demand as follows:

Cross Elasticity Demand = \frac{percentage change in quantity of skateboards}{percentage change in price of pizza}

Cross Elasticity Demand = \frac{0.058823529}{-0.25}

Cross Elasticity Demand = -0.235294118

Cross Elasticity Demand = -23.53%

7 0
3 years ago
Assume that the seller owes $80,000 on a loan for the land. After receiving the $298,000 cash in (a), the seller pays the $80,00
geniusboy [140]

Answer:

1.   - $   80,000

2.  -  $  80,000

3.  -   $     0      -   No effect

Explanation:

1. Assets  

 - <em>80,000</em>  ( pay loan ) -  decrease

2. Liabilities

 - 80,000 ( loan from <em>+</em><em> 80,000 </em> to  <em>0</em> ) - decrease

3. Stockholders Equity: no change, as there was not result ( profit/loss ) nor    shareholder contribution/withdrawal

 

5 0
3 years ago
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