question archive "Kappa Cricket” is a local company that manufactures customized cricket bats and offers a comprehensive repair and refurbishment service bringing old bats to life
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"Kappa Cricket” is a local company that manufactures customized cricket bats and offers a comprehensive repair and refurbishment service bringing old bats to life. The estimated total cost of production for their cricket bats is a parabola with equation TC=3600+100Q+2Q?. The recent Cricket World Cup victory of the English cricket team has increased the popularity of cricket in the UK. Kappa Cricket company forecasted that the market demand for cricket bat will increase and the estimated demand function will be QD=500-20.
a. If the company only produces what it can sell, and no more, determine the breakeven point(s) for the firm.
b. Determine the output at which profit is maximum.
c. Draw Profit functions. Show breakeven points and maximum profit in the graph
d. Draw Total Revenue and Total Cost function.
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