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The Zinger Company manufactures and sells a line of sewing machines.

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9. (10 points) The Zinger Company manufactures and sells a line of sewing machines. Demand per period (Q) for a particular model is given by the following relationship;Q = 200 ?.5P;where P is price. Total costs (including a "normal" return to the owners) of producing Q units per period are;TC = 20,000 + 50Q + 3Q2;(a) Express total profits (?) in terms of Q. This should be an equation. (3 Points);(b) At what level of output are total profits maximized? (2 Points) What price will be charged? (2 Points) What are total profits at this output level? (3 Points)

 

Paper#22929 | Written in 18-Jul-2015

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