1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
jeka94
3 years ago
10

The table below shows the total cost (TC) and marginal cost (MC) for Choco Lovers, a monopolistic firm producing different quant

ities
of chocolate gift boxes. Fill in the blanks in the table.

Mathematics
1 answer:
goblinko [34]3 years ago
4 0

Answer:

  Spreadsheet values

  • B3 = $15 (shown)
  • C4 = $420 (shown)
  • D6 = $272.5
  • E4 = $6
  • F2 = $16
  • F6 = $5

  Other values

  • profit maximizing Q: 35
  • profit maximizing P: $13
  • maximum profit: $227.5

Step-by-step explanation:

Labeling the columns of the spreadsheet A--F, and the rows 1--7, we want to find the values as follows.

a) The relationship between quantity, price, and revenue is ...

  total revenue = quantity × price

  price = (total revenue)/quantity

Then ...

  • B3 = 375/25 = 15 (as shown)
  • C4 = 30×14 = 420 (as shown)

__

b) The relationship between total cost and marginal cost is ...

  mc2 = (tc2 -tc1)/(q2 -q1)

  tc2 = (mc2)(q2 -q1) +tc1

Then ...

  • D6 = 9(40 -35) +227.5 = 272.5
  • E4 = (192.5 -162.5)/(30 -25) = 6

__

c) Marginal revenue is figured the same way as marginal cost.

  mr2 = (r2 -r1)/(q2 -q1)

Then ...

  • F2 = (320 -0)/(20 -0) = 16
  • F6 = (480 -455)/(40 -35) = 5

__

d) The quantity maximizing profit will be the quantity such that marginal revenue is equal to marginal cost. That is, marginal profit is zero. That quantity  is 35, where both marginal cost and marginal revenue are 7.

__

e) The price at a quantity of 35 is 13. This value is read from the given table.

__

f) The maximum profit is the difference between revenue and cost at the profit-maximizing quantity:

  maximum profit = 455 -227.5 = 227.5

You might be interested in
Which table represents a linear function?
ELEN [110]

Answer:

2=y 5=x

Step-by-step explanation:

its the answer of your question

5 0
2 years ago
What is 30/60 simplified and what do you multiply to get that?
maksim [4K]
1/2
Divide each number by 30
7 0
3 years ago
Write the equation of the line thay passes through the point (2,-1) and has a slope of -3​
disa [49]

Answer:

Y = -3x - 1

Step-by-step explanation:

Y= mx + b

M is the slope

Y is the y intercept

3 0
3 years ago
How do you write 22.5% as a fraction in simplest form?
Darya [45]

Answer: 9/40

Step-by-step explanation: To write a percent as a fraction in lowest terms, remember that a percent is a ratio that compares a number to 100.

So here, 22.5% can be written as the ratio 22.5 to 100 or 22.5/100.

Notice however that 22.5/100 is not in lowest terms so we need to multiply the numerator and the denominator of 22.5 by 10 in order to remove the decimal point. When we do this, we will end up with the fraction 225/1000.

The fraction 225/1000 can be written in lowest terms by dividing both the numerator and the denominator by 25 and we get the fraction 9/40.

Therefore, 22.5% can be written as the fraction 9/40.

4 0
3 years ago
What’s that website I wanna find it
Effectus [21]
What website are you looking for?
6 0
2 years ago
Read 2 more answers
Other questions:
  • The sum of two brothers age is 38. One brother is ten years older than the other. How old is the youngest brother?
    9·2 answers
  • Factor polynomial
    14·1 answer
  • The width of stamp M is 4/3 inches, and the length is 7/5 inches. The dimensions of stamp M are 7/6 time the dimensions of stamp
    12·2 answers
  • Which trigonometric values equal 0? Check all that apply.
    13·2 answers
  • Can someone plz help me?
    7·2 answers
  • Can somebody help me please
    5·1 answer
  • 2. Which is a true statement about the table below?<br> Please answer honestly
    15·1 answer
  • HELPPPP AHHHH<br> I been stuck on this for over 20 mins
    5·1 answer
  • Pls can some one help me??​
    15·1 answer
  • Rewrite the function by completing the square.
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!