Asked by
Blessing Ogbonna
on Dec 01, 2024
Verified
The demand for Professor Bongmore's new book is given by the function Q = 8,000 - 100p.If the cost of having the book edited and typeset is $17,000, if the marginal cost of printing an extra copy is $4, and if he has no other costs, then he would maximize his profits by
A) having it edited and typeset and selling 3,800 copies.
B) having it edited and typeset and selling 4,000 copies.
C) not having it edited and typeset and not selling any copies.
D) having it edited and typeset and selling 7,600 copies.
E) having it typeset and selling 1,900 copies.
Edited and Typeset
The process of preparing and arranging written material for printing or digital publication by correcting, making changes, and setting the final layout.
Marginal Cost
The extra financial burden of producing an additional unit of a product or service.
Profits
The financial gain received by a business after subtracting the total costs from the total revenues generated through its operations.
- Ascertain the maximum profitability across a range of production and cost circumstances.
- Calculate the optimum production quantity to maximize earnings or satisfy particular economic standards.
Verified Answer
MA
Learning Objectives
- Ascertain the maximum profitability across a range of production and cost circumstances.
- Calculate the optimum production quantity to maximize earnings or satisfy particular economic standards.