Best Orange Juice Company is located in Oman. The cost function for total orange juice production (x) is given by C(q) = 0.25x2. Their orange juice is demanded only in Muscat (Muscat demand is xm= 100-2Pm) and Salalah (Salalah demand is xs= 100-4Ps). Therefore, the total demand is x=xm+ xs. If the company can control the quantities supplied to each market, how many should it sell in each location to maximize total profits? What price would it charge in each location? T|し| TAaBb( AaBbCcD AaBbC AaBb AaBbCcD三。三、I NormalTitleT No Spac...Heading 1SubtitleParagraphStylesPIOVIOE al or youI aISwerS I IS UOcumen- Type your aiswer WHETE I S Onecieubelow.All of your answers have to be in black font.Following all instructions = 2% of your grade.-Best of Luck-%3DQl: Analytical part – 8%Best Orange Juice Company is located in Oman. The cost function for total orange juiceproduction (x) is given by C(q) = 0.25x². Their orange juice is demanded only in Muscat (Muscatdemand is Xm 100-2Pm) and Salalah (Salalah demand is X 100-4P.). Therefore, the totaldemand is x-xXut X If the company can control the quantities supplied to each market, how manyshould it sell in each location to maximize total profits? What price would it charge in eachlocation?Answer:Q2: Practical Part - 20%Jad's Food Company (JFCO) produces high-quality ketchup (K) and hot sauce (H) at its plant inKhasab, Musandam, for sale throughout Oman only, the company has not yet tried exporting itsuns 600 OR of labor wages, 800

From total cost function: MC = dC(q)/dx = 0.5x = 0.5xs + 0.5xm [since x = xs + xm] In Muscat, from…

Best Orange Juice Company is located in Oman. The cost function for total orange juice production (x) is given by C(q) = 0.25x2. Their orange juice is demanded only in Muscat (Muscat demand is xm= 100-2Pm) and Salalah (Salalah demand is xs= 100-4Ps). Therefore, the total demand is x=xm+ xs. If the company can control the quantities supplied to each market, how many should it sell in each location to maximize total profits? What price would it charge in each location?

Best Orange Juice Company is located in Oman. The cost function for total orange juice production (x) is given by C(q) = 0.25x2. Their orange juice is demanded only in Muscat (Muscat demand is xm= 100-2Pm) and Salalah (Salalah demand is xs= 100-4Ps). Therefore, the total demand is x=xm+ xs. If the company can control the quantities supplied to each market, how many should it sell in each location to maximize total profits? What price would it charge in each location?

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

ChapterA: The Use Of Mathematics In Principles Of Economics

Section: Chapter Questions

Problem 3RQ: Exercise A3 What dome slices of a pie chart represent?

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