Question

In: Math

Business: cost from marginal cost. A gourmet popcorn company determines that the marginal cost, in dollars,...

Business: cost from marginal cost. A gourmet popcorn company determines that the marginal cost, in dollars, of the xth bag of gourmet popcorn is given by C' (x) = -0.0004 x + 2.25 C(0)=$0 Find the total cost of producing 1000 bags of popcorn.

Solutions

Expert Solution

milcah answered 2 years ago
Next > < Previous

Related Solutions

Amalgamated Popcorn, Inc. is a fairly small firm selling bags of flavored gourmet popcorn in a...
Amalgamated Popcorn, Inc. is a fairly small firm selling bags of flavored gourmet popcorn in a popular mall. As shop owner and operator, you have observed that your daily sales tend to follow a pattern that can be stated as: QP = 500 - 100PP + 1.25A - 20PS + 2I where QP = unit sales of popcorn bags, PP = price of bags in dollars, A = advertising expenses, PS = price of soda pop sold at your stand...
Amalgamated Popcorn, Inc. is a fairly small firm selling bags of flavored gourmet popcorn in a...
Amalgamated Popcorn, Inc. is a fairly small firm selling bags of flavored gourmet popcorn in a popular mall. As shop owner and operator, you have observed that your daily sales tend to follow a pattern that can be stated as: QP = 500 - 100PP + 1.25A - 20PS + 2I where QP = unit sales of popcorn bags, PP = price of bags in dollars, A = advertising expenses, PS = price of soda pop sold at your stand...
Pierce Manufacturing determines that the daily​ revenue, in​ dollars, from the sale of x lawn chairs...
Pierce Manufacturing determines that the daily​ revenue, in​ dollars, from the sale of x lawn chairs is ​R(x)equals0.005 x cubed plus 0.05 x squared plus 0.4 x. ​Currently, Pierce sells 80 lawn chairs daily. ​a) What is the current daily​ revenue? ​b) How much would revenue increase if 85 lawn chairs were sold each​ day? ​c) What is the marginal revenue when 80 lawn chairs are sold​ daily? ​d) Use the answer from part​ (c) to estimate ​R(81​), ​R(82​), and...
When marginal product is increasing: Marginal cost is increasing          c. marginal cost is constant Marginal cost is...
When marginal product is increasing: Marginal cost is increasing          c. marginal cost is constant Marginal cost is decreasing         d average product is decreasing
In 2009, the price of Amazon's Kindle 2 was $430 in today's dollars, while iSuppli estimated that its marginal cost was $191 in today's dollars.
In 2009, the price of Amazon's Kindle 2 was $430 in today's dollars, while iSuppli estimated that its marginal cost was $191 in today's dollars.a. What was Amazon's price/marginal cost ratio?b. What was Amazon's Lerner index?c. What price elasticity of demand did it face if it was engaging in short-run profit maximization?
1. A nondiscriminating monopolist earning positive short-run economic profit determines that its current marginal cost is...
1. A nondiscriminating monopolist earning positive short-run economic profit determines that its current marginal cost is $15 and its current marginal revenue is $20. To maximize profit, a firm should raise price and increase output raise price and decrease output maintain a constant price and increase output reduce price and increase output shut down 2. A monopolist maximizes profit at the quantity where the slope of its total revenue curve equals the slope of its total cost curve. True False...
The Super-Pop Popcorn Company requires a new popcorn plant in Asia. Management collects data related to...
The Super-Pop Popcorn Company requires a new popcorn plant in Asia. Management collects data related to each site as follows in the table below. Where the plant should be built? Section 2: The Super-Pop Popcorn Company requires a new popcorn plant in Asia. Management collects data related to each site as follows in the table below. Where the plant should be built? Factor Weight Score India Jordan Oman Labor Attitude 0.3 60 70 65 Corn Quality 0.4 70 40 55...
A company produces at an output level where marginal cost is equal to marginal revenue and...
A company produces at an output level where marginal cost is equal to marginal revenue and has the following revenue and cost levels: Total revenue = $1,450 Total cost = $1,500 Total variable cost = $1,300 What would you suggest? shut down continue to produce because the loss is less than the total fixed cost increase production to lower the marginal cost reduce output to lower the marginal cost raise the price
13. What mistake might a business make if it confuses marginal cost and average cost? 14....
13. What mistake might a business make if it confuses marginal cost and average cost? 14. How does adverse selection explain why it might be difficult to change the Affordable Care Act?
a. If the marginal revenue is less than the marginal cost, what should a profit-maximizing company...
a. If the marginal revenue is less than the marginal cost, what should a profit-maximizing company do? b. In a perfectly competitive graph, how does one calculate the economic profit? c. What is the shutdown point in a perfectly competitive firm? ' d. Briefly, what is the difference between economies of scale and diseconomies of scale? Why is it important to the firm? e. Given the following total cost function TC(q) = 1000 + 13q. Find the fixed cost, variable...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT