Asked by Morgan Ballard on May 27, 2024
Verified
if the demand for pigeon pies is given by p(y) 110 y/3, then the level of output that will maximize Peter's profit is
A) 169.
B) 33.
C) 330.
D) 495.
E) None of the above.
Output
The cumulative quantity of products or services generated by a business, sector, or economic system over a given timeframe.
Profit
The financial gain achieved when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain it.
- Estimate the optimal profitability across a spectrum of production conditions and cost arrangements.
Verified Answer
BS
Bhawardeep SinghMay 30, 2024
Final Answer :
E
Explanation :
The given demand function is not clearly stated due to the presence of formatting or encoding errors, making it impossible to accurately determine the level of output that will maximize profit without the correct functional form of the demand equation.
Learning Objectives
- Estimate the optimal profitability across a spectrum of production conditions and cost arrangements.