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BT Chapter3

Bài tập Toán kinh tế chapter 3

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18 views3 pages

BT Chapter3

Bài tập Toán kinh tế chapter 3

Uploaded by

lenguyenquynhthu85
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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EXERCISES AT THE END OF CHAPTER 3

3.1. A company produces and exclusively consumes a product with demand


function Q (measured by the quantity of the product) and average cost AC
(measured in USD) given by Q = 2000 – 10P, AC = 0,15 Q + 50, where the
price P is calculated in USD.
a) Determine the price elasticity of demand and analyze the state at the point
corresponding to P = 100.
b) Determine the marginal revenue, marginal cost, and price elasticity of revenue
with respect to the quantity demanded Q . Apply specifically at Q = 300 and
explain the significance of the obtained values.
c) Determine the marginal profit and the price elasticity of profit with respect to
Q . Apply specifically at Q = 300, explain the meanings of the obtained values,
and analyze the state of the corresponding point.
3.2. A company produces and exclusively consumes a product with demand
function Q (measured by the quantity of the product) and average cost AC
(measured in USD) given by Q = 6000 – 30P, AC = 0,45 Q + 50, where the
price P is calculated in USD.
a) Determine the price elasticity of demand and analyze the state at the point
corresponding to P = 100.
b) Determine the marginal revenue, marginal cost, and price elasticity of
revenue with respect to the quantity demanded Q . Apply specifically at Q =
900 and explain the significance of the obtained values.
c) Determine the marginal profit and the price elasticity of profit with respect
to Q . Apply specifically at Q = 900, explain the meanings of the obtained
values, and analyze the state of the corresponding point.
60
3.3. Given the demand function Q = + ln(65 – P3) with price P (unit: USD).
P
a) Determine revenue, marginal revenue, and price elasticity of demand when
P = 4. Explain the meaning of the calculated values.
b) If P = 4 decreases by 2%, how much does the revenue change?
3.4. Assume a company produces and exclusively consumes a product with the
demand function P = 2800 – 15Q (measured in USD) where Q = Qd is the
quantity demanded (measured in units of the product). The average cost is given
by
AC = 2Q2 – 12Q + 280 + 1500Q–1; Q > 0.
a) Determine the revenue and profit.
b) Find the optimal quantity to maximize profit and determine the corresponding
price.

3.5. Suppose the revenue of a product is given by the formula R = 240Q + 57Q2
– Q3, where Q is the quantity of goods sold. Find the quantity Q to optimize
revenue and calculate the revenue at that point

3.6. Suppose the demand function of a product is P = – 5Q + 30, where P is the


selling price of the product and Q is the quantity demanded of the product. Find
the price P to optimize revenue and calculate the revenue at that point.
3.7. Suppose a product has a demand function P = 42 – 4 Q and an average cost
function AC = 2 + 80Q–1 where P is the selling price and Q is the quantity
demanded of the product. Find the price P to optimize profit and determine the
profit at that point.
3.8. Suppose the average cost of a product is given by
AC = 2Q2 – 36Q + 210 – 200Q–1, where Q is the quantity.
a) Calculate the marginal cost and the elasticity of cost with respect to
quantity Q .
b) Find the quantity Q  [4, 20] to optimize cost and calculate the cost
at that point.
3.9. The demand and average cost functions of an exclusive product are given
by P = 600 – 2Q, AC = 0,2Q + 28 + 200Q–1 (Q is the quantity demanded, P is
the selling price of the product).
a) Find the quantity Q to optimize profit (pre-tax). Find the price P and the
profit at that point.
b) Suppose the tax on this product is 22 (USD) per unit. Find the quantity to
optimize profit after tax and determine the price and profit (after tax) at that
point.

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