Asked by Ruthny Bonnet on Jun 01, 2024
Verified
if the demand for pigeon pies is given by p(y) 140 y/4, then the level of output that will maximize Peter's profit is
A) 56.
B) 560.
C) 284.
D) 840.
E) None of the above.
Pigeon Pies
Traditional British pies made with pigeon meat, often served as a game dish.
Output
The aggregate production of merchandise or services by a corporation, sector, or economy.
Profit
The financial gain obtained when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.
- Deduce the apex of profitability in diverse scenarios related to production and costs.
Verified Answer
SD
Saksham DhawanJun 05, 2024
Final Answer :
E
Explanation :
The given demand function is not clearly stated due to formatting issues, making it impossible to accurately determine the level of output that maximizes profit without the correct functional form of the demand.
Learning Objectives
- Deduce the apex of profitability in diverse scenarios related to production and costs.