Q4- A firm producing lamps has fixed costs of €1000 per week.1) f a kamp costs €15 to produce.(a) Write down the equation for total cost.(b) Graph the total cost function for Q = O to 100(c) Calculate the cost of producing 25 lamps.(d) How many lamps are produced when total costs are C7000?2) If the lamps are sold for €35 each.(a) Write down the equation for total revenue.(b) Graph the total revenue function for Q = 0w 100.(c) How many lamps are sokl when total revenue is €1750?(d) Does the firm's revenue exced costs when 80 lamps are sold? Calculate the rofit/losswhen 80 lamps are sold.

Note: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question…

24- A firm producing lamps has fixed costs of €1000 per week. 1) If a kamp costs E15 to produce. (a) Write down the equation for total cost. (b) Graph the total cost function for Q = 0 to 100 (c) Calculate the cost of producing 25 lamps.

24- A firm producing lamps has fixed costs of €1000 per week. 1) If a kamp costs E15 to produce. (a) Write down the equation for total cost. (b) Graph the total cost function for Q = 0 to 100 (c) Calculate the cost of producing 25 lamps.

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter4: Extent (how Much) Decisions

Section: Chapter Questions

Problem 3MC

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Question

Q4- A firm producing lamps has fixed costs of €1000 per week.
1) f a kamp costs €15 to produce.
(a) Write down the equation for total cost.
(b) Graph the total cost function for Q = O to 100
(c) Calculate the cost of producing 25 lamps.
(d) How many lamps are produced when total costs are C7000?
2) If the lamps are sold for €35 each.
(a) Write down the equation for total revenue.
(b) Graph the total revenue function for Q = 0w 100.
(c) How many lamps are sokl when total revenue is €1750?
(d) Does the firm's revenue exced costs when 80 lamps are sold? Calculate the rofit/loss
when 80 lamps are sold.

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