A Firm Can Produce 100 Units Per Week $C = 500 + 1400 x$

question 27

Multiple Choice

A firm can produce 100 units per week. If its total cost function is $C = 500 + 1400 x$ dollars, and its total revenue function is $R = 1500 x - x ^ { 2 }$ dollars, find the maximum profit.

• A)$3886
• B)$2000
• C)$7007
• D)$5503
• E)$5836

Understand the development of complex thinking abilities and stages in adulthood as proposed by various developmental theories.

Grasp the principles of business organization structures, including corporations and limited liability companies (LLCs).

Recognize the differences between limited liability companies (LLCs) and S corporations in terms of taxation and operational requirements.

Identify defensive strategies used by companies during hostile takeover attempts.

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Definitions:

Diminishing Returns

A principle stating that as investment in a single area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other inputs remain constant.

Marginal Product

The additional output generated by employing one more unit of a particular input, holding all other inputs constant.

Hiring Labor

The process of engaging individuals to perform services or work for compensation.

Stock Prices

The current market price of a share of a company's stock, reflecting investor perceptions of the company's future financial prospects.