2. The profit function from manufacturing and selling
xx BabCo Lounge Chairs is:
P(x)=30x−140−0.2x^2
a. Find the exact additional profit for manufacturing and selling
10 chairs instead of 9 chairs.
b. Find the marginal profit at x=9
= per lounge chair.
3. Acme Office Supplies manufactures file cabinets.
The cost (in dollars) of producing x file cabinets is given
by:
C(x)=1025+60x−x^2
a. Find the exact additional cost of producing 7 file cabinets
instead of 6.
b. Find the marginal cost function. C'(x)=
c. Use the marginal cost function approximate the additional cost of producing 7 file cabinets instead of 6.
4. The cost function for the production of microwaves is given as
C(x)=50,000+40xC(x)=50,000+4
where x is the number of microwaves produced and C(x) is the
total cost (in dollars) of producing x units.
Find the marginal cost as a function of x. C'(x)=
5. The total profit (in dollars) from the production and sales of xx espresso machines is
P(x)=40x−0.02x^2−260
a. How many espresso machines must be produced and sold to have
a marginal profit of 32 dollars per unit:
machines
b. Find the marginal profit at a production/sales level of 350
machines:
dollars per espresso machine
c. Use the profit at 350 machines, which is $11290, and the marginal profit at 350 machines that you computed above to estimate the profit at an output/sales level of 351.
=$
6. The price-demand function for the sale of yo-yos is:
p=6−0.02x
where p is the price of a yo-yo in dollars, and x is the demand
for yo-yos at a price of p dollars.
a. R'(290)=
b. What are the correct units for R'(290)?
7. The price-demand and cost functions for the production of microwaves are given as
p=250−x80
and C(x)=16000+30x
where x is the number of microwaves that can be sold at a price of p dollars per unit and C(x) is the total cost (in dollars) of producing x units
a. Find the profit function in terms of x.
P(x)=
b. Evaluate the marginal profit function at x=1500 microwaves
rounded to the nearest cent.
P'(1500)= per microwave
8. AnselPix is an online company that makes and sells
photographs of National Parks. The profit from selling xx prints of
a scene in Arches National Park is P(x) dollars. AnselPix believes
that the profit from making and selling 150photos will be 22,000
dollars. Assume that the marginal profit is P'(150)=−150. As
AnselPix's financial advisor, would you recommend that they sell
more photos or fewer photos? Why?
Fill in the first blank with either the word "more" or "fewer" and
the second with the word "increase" or "decrease".
I would recommend that AnselPix sell (Select an answer, more/
fewer?) photos because the company will (Select an answer
decrease/increase?) profit by approximately ($?) if they decide to
make and sell the 151st photo instead of 150 photos.
9. The revenue (in dollars) from producing and selling xx navigation systems is
R(x)=x(2100−30x)
a. Find the marginal revenue function.
R'(x)=
In: Math
Use your knowledge of cost functions to calculate the missed cost data in the accompanying table.
Round your answers to two digits after the decimal.
| Quantity | Marginal cost | Fixed cost | Variable cost | Total cost | Average fixed cost | Average variable cost | Average total cost |
|---|---|---|---|---|---|---|---|
| 0 | --- | --- | --- | --- | |||
| 1 | $50.00$50.00 | ||||||
| 2 | $74.00$74.00 | ||||||
| 3 | $105.00$105.00 | ||||||
| 4 | $40.00$40.00 | $400.00$400.00 |
What is the total cost when producing zero units?
total cost: $
What is the marginal cost for the first unit?
marginal cost: $
What is the average total cost when producing three units?
average total cost: $
What is the average variable cost when producing four units?
average variable cost: $
In: Economics
Use your knowledge of cost functions to calculate the missed cost data in the accompanying table.
Round your answers to two digits after the decimal.
| Quantity | Marginal cost | Fixed cost | Variable cost | Total cost | Average fixed cost | Average variable cost | Average total cost |
|---|---|---|---|---|---|---|---|
| 0 | --- | --- | --- | --- | |||
| 1 | $50.00$50.00 | ||||||
| 2 | $72.00$72.00 | ||||||
| 3 | $105.00$105.00 | ||||||
| 4 | $30.00$30.00 | $380.00$380.00 |
What is the total cost when producing zero units?
total cost: $
What is the marginal cost for the first unit?
marginal cost: $
What is the average total cost when producing three units?
average total cost: $
What is the average variable cost when producing four units?
average variable cost: $
In: Economics
Harrison Richmond at my 27 year old male is seen in
the emergency room for a sprain back (coccyx)suffered as a result
of falling off a horse he was riding in the local public
park.
Principal Diagnosis:
What is the correct diagnosis code?
Principal External Cause Code:
What is the correct diagnosis code?
Second External Code:
What is the correct diagnosis code?
In: Nursing
Which of the following are continuous variables, and which are discrete? (a) speed of an airplane continuous discrete (b) age of a college professor chosen at random continuous discrete (c) number of books in the college bookstore continuous discrete (d) weight of a football player chosen at random continuous discrete (e) number of lightning strikes in Rocky Mountain National Park on a given day continuous discrete
In: Statistics and Probability
Belongs to Hospitality Law
Is it fair that we have to go looking for problems? Do you think doing this helps us limit liability? Sometimes we are held responsible when people do some pretty dumb things. Search online for the craziest case that a hotel or restaurant was held responsible for. Post your examples and the case citations here. Funniest one wins!
In: Nursing
Evolving Technology"
Analyze the various technological improvements over the last 100 years and determine which has been the most significant for both guests and hotel owners. Explain your rationale.
Determine how evolving communications technology (i.e., cell phones and Wi-Fi) has changed guest expectations regarding communications, as well as how the lodging industry should respond.
In: Operations Management
In: Operations Management
The Ivanhoe Hotel opened for business on May 1, 2022. Here is
its trial balance before adjustment on May 31.
| IVANHOE
HOTEL Trial Balance May 31, 2022 |
||||||
|---|---|---|---|---|---|---|
|
Debit |
Credit |
|||||
|
Cash |
$ 2,613 | |||||
|
Supplies |
2,600 | |||||
|
Prepaid Insurance |
1,800 | |||||
|
Land |
15,113 | |||||
|
Buildings |
70,000 | |||||
|
Equipment |
16,800 | |||||
|
Accounts Payable |
$ 4,813 | |||||
|
Unearned Rent Revenue |
3,300 | |||||
|
Mortgage Payable |
36,000 | |||||
|
Common Stock |
60,113 | |||||
|
Rent Revenue |
9,000 | |||||
|
Salaries and Wages Expense |
3,000 | |||||
|
Utilities Expense |
800 | |||||
|
Advertising Expense |
500 |
|||||
|
$113,226 |
$113,226 |
|||||
Other data:
| 1. | Insurance expires at the rate of $360 per month. | |
| 2. | A count of supplies shows $1,180 of unused supplies on May 31. | |
| 3. | (a) Annual depreciation is $2,760 on the building. | |
| (b) Annual depreciation is $2,160 on equipment. | ||
| 4. | The mortgage interest rate is 5%. (The mortgage was taken out on May 1.) | |
| 5. | Unearned rent of $2,670 has been earned. | |
| 6. | Salaries of $710 are accrued and unpaid at May 31. |
Prepare a retained earnings statement for the month of May.
In: Accounting
The Ivanhoe Hotel opened for business on May 1, 2022. Here is
its trial balance before adjustment on May 31.
| IVANHOE
HOTEL Trial Balance May 31, 2022 |
||||||
|---|---|---|---|---|---|---|
|
Debit |
Credit |
|||||
|
Cash |
$ 2,613 | |||||
|
Supplies |
2,600 | |||||
|
Prepaid Insurance |
1,800 | |||||
|
Land |
15,113 | |||||
|
Buildings |
70,000 | |||||
|
Equipment |
16,800 | |||||
|
Accounts Payable |
$ 4,813 | |||||
|
Unearned Rent Revenue |
3,300 | |||||
|
Mortgage Payable |
36,000 | |||||
|
Common Stock |
60,113 | |||||
|
Rent Revenue |
9,000 | |||||
|
Salaries and Wages Expense |
3,000 | |||||
|
Utilities Expense |
800 | |||||
|
Advertising Expense |
500 |
|||||
|
$113,226 |
$113,226 |
|||||
Other data:
| 1. | Insurance expires at the rate of $360 per month. | |
| 2. | A count of supplies shows $1,180 of unused supplies on May 31. | |
| 3. | (a) Annual depreciation is $2,760 on the building. | |
| (b) Annual depreciation is $2,160 on equipment. | ||
| 4. | The mortgage interest rate is 5%. (The mortgage was taken out on May 1.) | |
| 5. | Unearned rent of $2,670 has been earned. | |
| 6. | Salaries of $710 are accrued and unpaid at May 31. |
Prepare an adjusted trial balance on May 31.
In: Accounting