Given cost and price (demand) functions C(q) = 100q + 41,000 and p(q) = - 2q + 890, what price maximizes revenue? It would be $ per item. (Round answer to two decimal places.)
Q: uppose that you are the manager of a company that vaccinates human beings for biological diseases. Y...
A: Given: Physician costs= $500 per day (for an annual salary of about $175,000) The daily cost for the...
Q: Use the table Costs for Alina's Apple Pies. If Alina's Apple Pies operates in a perfectly competitiv...
A: Difference between total revenue and total cost gives the economic profit of a firm.
Q: An example of a variable cost is O a lease payment O the cost of labor O administrative overhead O i...
A: Costs refers to the amount of money spent by the production units to produce the goods and services....
Q: (A) What is the importance of market integration in globalization? (B) Is global interstate system i...
A: market integration. is a separate business sectors for a similar item become one single market, fo...
Q: Express the equation of the budget line 4x + 5y - 300 = 0 in the: (i) intercept form and (ii) slope ...
A:
Q: How do propensities and multipliers, and even expectations affect the outcomes in a downturn
A: In an economy, when talking about propensity, expectations and multipliers, these are the ratios of ...
Q: onsider the table below and assume the market price is $35 per unit. Total product Total fixed cost...
A: An economic profit or loss is the distinction between the income got from the offer of a result and ...
Q: Summarize the impact of globalization for social change
A: Globalization's Impact and Social Consequences In the last fifteen years, the term "globalisation" h...
Q: 2. There are three student canteens serving different types of foods located at the campus. Table be...
A: When per unit cost of production is decreasing known as Economies of scale. When it is minimum and ...
Q: Find the compound amount after year if $100 is invested at the rate 6%, payable quarterly. What was ...
A: given that, principle(P) is $100 time(t) is one year rate(r) is 6 percent
Q: what is the 4 factor that affects the level of interest rate? and how does each one work?
A: The cost of lending money is represented by an interest rate. On the other hand, it is a reward for ...
Q: Nicky Joe runs a satellite television subscription service for a rural customer base is considering ...
A: Please find the answer below.
Q: Which of the following adds to US GDP? O A I chop down a tree on my property and build a table. A si...
A: GDP includes market value of all good and services produced within the boundaries of the country...
Q: What is Determinants of supply?
A: Supply: - Supply is the quantity of goods and services that the suppliers are supplying for the cons...
Q: Multiple Choice : O. earning a normal profit . O. earning an economic profit . O. generating a loss ...
A: When calculating profit margins, explicit and hidden costs are considered; one way of looking at thi...
Q: 16. If all quantities produced rise by 5% and all prices fall by 5%, which of the following best des...
A: GDP is the value of final goods and services produced in the economy within a given period of time.
Q: Which of the following statements about the economy's aggregate demand curve is not correct? Questi...
A: Aggregate demand shows the relationship between price level and real GDP. It is downward sloping.
Q: 1. Consider a consumer with utility u(x1,x2) = .5lnx1 + .5lnx2 (b) Now, consider an equivalent repr...
A: Given Utility function U=5lnX1+5lnX2 Equivalent utility function V=X15X25
Q: Suppose that the market for gasoline is a perfectly competitive market. All gas station owners face ...
A: A perfectly competitive firm is a price taker as there are large number of firms selling identical g...
Q: Why do corporations have a corporate responsibility?
A: Key elements of a corporation A corporations is basically characterized regarding legitimate status...
Q: Explain in at least 5 sentences: Give three specific examples of three different views (schools of e...
A: There are many theories of economics, some theories proved to be right according to the situation bu...
Q: What annuity is required over 10 years to equate with a future amount of P20,000? Assume i= 6% annua...
A:
Q: Consider public policy aimed at alcohol consumption. a) Studies indicate that the price elastici...
A: Since we only answer up to 3 sub-parts, we’ll answer the first 3. Please resubmit the question and s...
Q: An entity has fixed costs of p0,000 and variable costs per unit P6. It plans on selling 40,000 units...
A: The total profit is difference between total revenue and total cost of production.
Q: QUESTION 6 Of the 400,000 people (age 16-64) in a particular country, 100,000 people are not employe...
A: Formulas: 1. Employment to population ratio = (Employed population / Total population) * 100 2. Unem...
Q: In a perfectly competitive market you can expect the following changes to occur in long run if firms...
A: The structure of a market where there are a large number of sellers selling homogenous products and ...
Q: given this payoff matrix what should SA and V choose to do? is there a prisoners dilemma? Qon 3m 744...
A: Given Pay off matrix
Q: statement is TRUE, correct and valid. Write "F", if otherwise. If your answer is either "T" or "F" e...
A: DISCLAIMER “Since you have asked multiple question, we will solve the first three question for you ...
Q: The Phillips curve describes the relationship between which two variables? the money supply and inte...
A: The Phillips curve equation is πt - πt-1 = (μ+z) - αut
Q: 12. Which of the following is not included in M1? a. Currency b. Demand deposits c. Savings deposits...
A: "Since you have asked multiple questions, we will solve the first question for you. If you want any ...
Q: What is Determinants of supply?
A: The quantity of a good or service that providers or producers are willing to sell in the market at a...
Q: Consider the Solow Model of a closed economy where the aggregated capital, K, the aggregated labour ...
A: Introduction Aggregate production function has given as Y = K2/3 L2/3 F(K, L) = K2/3 L2/3 F( K/L , 1...
Q: Susan and Thomas are playing a one-shot simultaneous move game an infinite time horizons. The payoff...
A: Given, There are Two Players : Susan and ThomasBoth have two strategies : L and R The pay-off matri...
Q: 1. All potential criminals are alike. Each has a benefit B of committing a crime, where B = $10,000....
A: Benefit of committing crime (B) = $10,000 Cost to criminal being punished:- T = $1000 every year P ...
Q: Which of the following is true for a monopoly? a. p=mr b. p=mc c. a monopoly can sustain positive pr...
A: 3) A monopoly is a market structure where there is one seller and many buyers. The conditions in the...
Q: 1)How do you go from many midpoint indicators to one endpoint indicator in LCIA, for example to DALY...
A: Before reaching the endpoint, a midway technique examines the effects earlier in the cause-effect ch...
Q: 2. A loan of $25,000 was repaid at the end of 9 months with $28,500. What annual rate of interest wa...
A: "Since you have asked multiple questions, we will solve first question for you .. If you want any sp...
Q: if y=10k0.5 and current k is 100, depreciation is 10%, population growth is 2%, then for income per ...
A: Depreciation rate (d) = 10% Population growth rate (n) = 2% Let's assume saving rate is 's' --------...
Q: Part 1 - What kinds of specific actions has the IMF taken in order to address economic or financial ...
A: Since you have asked multiple question, we will solve the first question for you. If you want any sp...
Q: The principle of Check and Balance in a Presidential Form of government seems to be a perfect arrang...
A: Checks and balances in the form of the government perfect arrangement among the 3 branches (executi...
Q: Which of the following is true for a monopoly? a. p=mr b. p=mc c. a monopoly can sustain positive...
A: Each perfect competition and monopoly business model are different market structures in light of the...
Q: MIXED STRATEGY NASH EQUILIBRIUM Consider the following game in strategic form. bị b2 a1 18,2 80,60 a...
A: Mixed strategy Nash Equilibrium is when Player 1 chooses his/her strategy with a particular probabil...
Q: CLASSES OF GAMES Consider the following game in strategic form. bị b2 b3 a1 6,1 2,2 8,3 a2 9,6 5,4 3...
A: Given information Game pay off matrix
Q: What can you say about Tax incidence in your country, who carries the burden more? Give examples and...
A: Taxes are unintended fees placed on individuals or companies and levied by a government agency – reg...
Q: In its 2021 Budget, the Canadian federal government estimated that for the fiscal year 2021-22, its ...
A: In the fiscal year 2021-22 canadian deficit would be less than half of what it was in the fiscal yea...
Q: Graphs of marginal revenue and marginal cost functions based on linear models for the demand and tot...
A: Marginal Cost is the additional cost incurred in the production of one more unit of output. Marginal...
Q: A telephone switchboard 100 pair cable can be made up with either enameled wire or tinned wire. Ther...
A: Number of soldered connection= 400 The cost of soldering a connection on the enameled wire= P16.50 T...
Q: How does savings change with changes in y2? Provide some intuition behind this result.
A: Utility means the level of satisfaction that a consumer gets by consuming the units of a commodity. ...
Q: Suppose there are only two firms that sell smartphones, Flashfone and Pictech. The payoff matrix tha...
A: Given; 1) If Flashfone prices high, Pictech will make more profit if it chooses a low price. Reason...
Q: Consider the following simple model of the Mile End Park Beautification Initiative (from the lecture...
A: As per given information
Step by step
Solved in 2 steps with 1 images
- Given Cost and Price (demand) functions C(q) = 110q + 45000 and p(q) = - 2.8q + 800, what profit can be earned if the price is set to be $550 per item? U The profit is $ 1,?9 (Round to the nearest cent.) A company produces a special new type of TV. The company has fixed costs of $499,000, and it costs STT00 to produce each TV. The company projects that if it charges a price of $2300 for the TV, it will be able to sell 850 TVs. If the company wants to sell 900 TVs, however, it must lower the price to $2000. Assumo a linear demand. What is the marginal profit if 200 TVs are produced It is $ 0 per item. (Round answer to nearest dollar.)A local newspaper currently has 84,000 subscribers at a quarterly charge of $30.Market research has suggested that if the owners raise the price to $32, they wouldlose 5,000 subscribers. Assuming that subscriptions are linearly related to theprice, what price should the newspaper charge for a quarterly subscription tomaximize their revenue?a) Find the cost function (Hint: find slope and use point-slope form to find thecost function) b) Find the revenue function c) Find the maximum revenue d) Find the profit functionA manufacturer can produce a gizmo at a cost of $6 apice. He sells this gizmo for $10 ,and at this price 10 gizmos are sold each day. The manufacturer figures that each $3 dollars decrease in price will sell 3 additional goods each day. Write out the Demand and Profit functions. What price xmaximizes profit?
- 603 chairs sold at $91 each. If total revenue is $54,873, then calculate:A local company is planning to manufacture and market a four-slice toaster. For this toaster, the research department’s estimates are aweekly demand of 300 toasters at a price of $25 per toaster and a weekly demand of 400 toasters at a price of $20. The financial department’s estimates are fixed weekly costs of$5,000 and variable costs of $5 per toaster. a) Assume that the relationship between price ? and demand ? is linear. Use the research department’s estimates to express ? as a function of ? and determine the domain of the function. b) Using your knowledge from Finite Math, determine the Revenue function in terms of ?. c) Determine the Marginal Revenue at 2 different production levels for example 250 and 500 units. Interpret these results. (HINT: Consider what a positive or negative first derivative implies) d) Assume that the cost function is linear. Use the financial department’s estimates to express the cost function interms of ?. e) Determinethe Marginal costand interpret the…suppose the Total Revenue function for a product is given by R(x)=V0•1x+0-2x² (R-4,x--u) a) Find the Rate of change in Tota) Revenue or Morginal Revenue . a) b) Find Margina) Revenue nhen x=4 units are sold and slate nhatitpredicts for the sale of the next unit c) Firid the Actual change in To tol Revenue uhen productm Level is ingeased from 4 to 5 units di Esplainany discreponcy hetncen parls (1) and (c)resuHs mathemohie ally / Graphically d)
- The figure shows graphs of the total cost function and the total revenue function for a commodity. (Assume cost and revenue are measured in dollars.) y 500 400 300 200 100 MR 10 (a) Label each function correctly. function A ---Select--- function B ---Select--- (x, y): = 20 (b) Determine the fixed costs. $ 30 (c) Locate the break-even point. -([ = 40 50 Determine the number of units sold to break even. units A B 60 (d) Estimate the marginal cost MC and marginal revenue MR. MC = Xshow calculations A wheat seed dealer has a cost function: C = 100 + 20Q +Q2. Inverse demand is: P = 620 -2Q. Maximum profit is: A. 38,400 B. 36,200 C. 39,200 D. 29,900 Handwritten solution not required correct answer will get instant upvote.Bill runs a business that makes custom-printed towels. It will cost him $8 each to purchase and print on towels, and he will have to pay a rent of $1,700 per month for him workshop. Based on market research, Bill estimates that he can sell custom towels for $25 each. a) Calculate the number of towels he needs to sell per month to break-even. towels b) Calculate the break-even in dollars (round off to the nearest cent).
- 09. Consider the economic order quantity, with demand of 1650 unit per month (30 days), setup cost of $505, holding cost of $43 per unit per year, what is the time between order? 4.20 4.04 3.76 3.64 3.58A used car dealership rents 210 cars for $9 a day. They want to increase the price to maximize their profits. They notice that if they increase the price by $1.25 that they have fewer rentals. Create an equation for profit for the car dealership rental sales. Determine the price of the rental that maximizes profitA company sells a product for $34 each. The variable costs are $16 per unit and fixed costs are $14,562 per month. a) Find the revenue function. TR = b) Find the cost function. TC = c) Calculate the number of units needed to be sold per month to break-even. units d) Calculate the revenue at the break-even (round off to the nearest cent). $