logo

MAT10706 - Quantitative Methods with Economics

13 Pages837 Words92 Views
   

Added on  2020-02-24

MAT10706 - Quantitative Methods with Economics

   Added on 2020-02-24

ShareRelated Documents
MAT10706QUANTITATIVE METHODSWITH ECONOMICSPROJECT ASSIGNMENTStudent[Pick the date]
MAT10706 - Quantitative Methods with Economics_1
Question 1Impact of changing price upon revenue and profit The information about three type of timber is given below:Fixed production cost =$300(1)In order to determine the total cost, it is essential to determine the total variable cost. Hence, Average variable cost For pine: 15.5+(2∗3)=$21.5For Myrtle: 17.5+(2∗3)=$23.5Sassafras: 24.5+(2∗3)=$30.5Total cost (TC) would be computed as highlighted below:TC=AVC∗Q+FCTC=AVC∗Q+3001
MAT10706 - Quantitative Methods with Economics_2
Total costs For pine: 21.5∗Q+300For Myrtle: 23.5∗Q+300Sassafras: 30.5∗Q+300Total revenues TR=PQ2
MAT10706 - Quantitative Methods with Economics_3
Excel graph for TR and TC 3
MAT10706 - Quantitative Methods with Economics_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
MAT10706 - Quantitative Methods With Economics, Project Assignment
|9
|1100
|333

Quantitative Methods with Economics - Desklib
|11
|1469
|67

Quantitative Methods with Economics
|10
|1239
|97

MAT10706 Quantitative Methods With Economics
|9
|1167
|97

Impact of Changing Price on Revenue and Profit in Motor Cycle Manufacturing Company
|8
|1385
|481

Economics Assignment- Doc
|28
|4338
|142