-
+1 - 312-224-1615
Get in touch with us
-
support@helpwithassignment.com
Send us an e-mail
Solution Library
Calculate the Optimal Level of Output and Maximum Profit
Question
Precision Engineering department has collected data on its average costs of production for the past 12 months. The monthly fixed cost is $4000 per month. The AVC and associated output data are presented below:
| Month | Q | AVC $ |
| Jan | 70 | 375 |
| Feb | 58 | 540 |
| Mar | 160 | 450 |
| Apr | 120 | 255 |
| May | 130 | 138 |
| Jun | 120 | 150 |
| Jul | 10 | 450 |
| Aug | 35 | 350 |
| Sep | 80 | 60 |
| Oct | 110 | 70 |
| Nov | 100 | 90 |
| Dec | 190 | 153 |
Show what is the optimal level of monthly production for Precision Engineering department if the market price of each component is $400 per piece? What is the maximum profit or minimum loss Precision Engineering department can expect to earn?
Summary
The question belongs to Statistics and it is about calculating the maximum profit and the minimum loss for Precision Engineering department can earn if the market price of each of its components is $400.
Download Full Solution
WHAT OUR STUDENTS SAY
I am pursuing my masters in finance management from the Singapore Management University. Even though I have a clear idea of most of the concepts of finance from my undergraduate days, I was still looking for some guidance and help with my finance assignment. I had benefited greatly during my undergraduate days from the online finance tutor at TheReliableTutor so I decided to contact them again and since then have not looked back.
Oliver Tan Student
I am pursuing my masters in finance management from one of the leading buisness schools in London. Even though I have a clear idea of most of the concepts of finance from my undergraduate days, I was still looking for some guidance and help with my finance homework. I had benefitted greatly during my undergraduate days from the online finance tutor at TheReliableTutor so I decided to contact them again and since then have not looked back. I have been getting finance assignment help and they have helped me a lot
Oliver Brettner Student
Framing the research question is the most important thing for a research paper. It provides the necessary backbone and determines the kind of research it would be. The expert here in HwA, after a deep discussion with me via email, sorted out a simple yet original research question which my professor appreciated very much.
Rob Fox Student
I used to always avoid metallurgy and concentrated in other sections of chemical engineering. However, a miracle happened 2 years ago. As I was stuck with my mechanical properties assignment, I came across HwA. Now, thanks to them, in my last semester I am thinking of doing my master degree in metallurgy. The material science experts of HwA did not only help me get good grades in the material science assignments but at the same time made me fall in love.
Lynn Macdonald Student
Marketing was always my area of preference. So I was confident when I got through the MBA program at Duke. But writing all the assignments over the existing work load was proving to be too much for me. The online marketing assignment expert at TheReliableTutor saved my time and effort by conducting all the research and guiding me through the material.
Shane Duncan Student
Comments
this is a very good website
I have 50 questions for the same test your page is showing only 28
hi can you please help or guide me to answer my assignments. thanks
hi can anyone help or guide me to my assignments. thanks
This solution is perfect ...thanks
Hello Allison,I love the 2nd image that you did! I also, had never heard of SumoPaint, is something that I will have to exolpre a bit! I understand completely the 52 (or so) youtube videos that you probably watched. Sometimes they have what you want, sometimes they don't! However, it is always satisfying when you are able to produce something that you have taught yourself. Great job!Debra 0 likes
Perfect bank of solution.
great !
thanks for the quick response. the solution looks good. :)
thnx for the answer. it was perfect. just the way i wanted it.
works fine.