0.2x The price-demand equation for the production of x ski jackets is given by: p = 200 1. Write the revenue function. 2. Find the total revenue when 80 ski jackets are produced and sold. F. Find the marginal revenue function.
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- Blue INK is the only cabel service provider in Gazipur. The diagram below depicts the price, output and costs incurred by Blue INK. Use the graph to answer the following questions: What is the Total revenue generated by Blue INK at the profit maximizing level of output?[ Answer in Numerical value only.i;e. 1,2,3,4,5] If the Cable Service Market turns into a Perfectly Competitive Market, what will be the total ammount of the service provided? [ Answer in Numerical value only] If the market turns into a Monopoly market again, what will be the total deadweight loss created? [ Answer in Numerical value only]Answer the questions based on the table below - Complete the table below. - In which market does this firm operate? Explain your reasons. - Determine the equilibrium output. Calculate whether the firm will it be earning a profit or suffering a loss at equilibrium. Quantity(unit) Total Revenue($) Average Revenue($) MarginalRevenue($) TotalCost($) MarginalCost($) 1 10 5 2 18 11 3 24 16 4 28 20 5 30 23 6 30 251- Suppose that the total cost function of a firm is given as follows;TC = 500 + 2Q2And the price of the firm’s product is determined by the market equilibrium at $100.a- Set the profit maximizing condition . Find the profit maximizing output level for this firm .b- What is the total revenue ?c- What is the total cost ?d- What is the profit earned by the firm ?e- Illustrate your answer by using a well-labeled graph .f- Denote the break even price level with Pb on the same graph .g- Denote the shut down price level with Ps on the same graph.h- Show the firm’s supply curve on the same graph .i- Does the firm function in short-run or long-run ? Why ?
- Suppose demand is Q = 10000 - 1000P and marginal cost is constant at MC=6. From the given demand curve, one can compute the following marginal revenue curve: MR = 10 - Q/500 a. Graph the demand, marginal cost, and marginal revenue curves show full and complete calculations for each.The table below shows the average cost (AC) for a purely competitive market. The average revenue (AR) is constant at RM5 per unit and the firm’s total fixed cost (TFC) is RM4. If the average revenue falls to RM3 per unit, calculate the firm’s new profit or loss at the equilibrium. Based on your answer, should the firm continue or stop the production? Justify. Output (Units) Total Revenue (RM) Average Cost (RM) Total Cost (RM) Marginal Cost (RM) Marginal Revenue (RM) 1 8.0 2 5.5 3 4.0 4 3.5 5 3.8 6 4.5 7 6.0You sell items. Your marginal revenue and marginal cost are given by the formulas: MR (q)= 9.344-0.8q and MC (q)= 0.1q2-1.2q+5.9 where q is measured in hundreds of items and marginal revenue and marginal cost are in dollars per item. Compute the change in total cost that occurs if quantity increases from 225 to 226 items.
- Suppose that the total revenue function of a firm is defined as TR= (P)(Q) where TR= f(Q). The usual notation applies. 1. . Find the total revenue function TR(Q) if the inverse demand function is given by P(Q) = 80-0.2Q2. What is the shape of the total revenue function if graphed? State your basis.A perfectly competitive firm has the following fixed and variable costs in the short run. The market price for the firm’s product is $150. Output FC VC TC TR Profit/Loss 0 $100 $ 0 ___ ___ ___ 1 100 100 ___ ___ ___ 2 100 180 ___ ___ ___ 3 100 300 ___ ___ ___ 4 100 440 ___ ___ ___ 5 100 600 ___ ___ ___ 6 100…If the inverse demand function is p=800-4Q what is the marginal revenue function? Draw the demand and marginal revenue curves. At what quantities do the demand and marginal revenue curves hit the quantity axis? (Hint: See Q&A 9.1)
- Suppose that the total cost function of a firm is given as follows; TC = 500 + 2Q2 And the price of the firms product is determined by the market equilibrium at $100. a) set the profit maximizing condition. Find the profit maximizing output level for the firm. b) what is the total revenue c) what is the total cost? d) what is the profit earned by the firm e) illustrate your answer by using a well labeled graph.Faye is an entrepreneur considering whether to enter the market for providing websites to universities offering online learning. The market is currently perfectly competitive, and the market-clearing price is $10,000 per client. Her marginal cost is given by the equation MC = 200Q. a. In this market, what is Faye’s marginal revenue function? b. If Faye enters the market, how many website clients will she have, and what will her profit be? You can assume no fixed cost. Now imagine Faye asks you for advice. She knows you have just taken this course, and you learned about market power. c. Explain two ways Faye can achieve greater market power in this market. Faye takes your advice, and she is now the monopolist in a new market, where the demand curve is given by Q = 300,000 – 1,000P d. What is Faye’s new marginal revenue curve? e. In this new market, how clients will she have, and at what price will she sell her services? Now imagine you see all the profits Faye is making and you decide…Given P = 300 + 200Qs (demand equation), P = 6300 − 50Qd (supply equation), and TC = 500 + 10Q + 0.8Q2 (cost function) in a perfectly competitive market, a profit-maximizing firm will produce an output equal to ________. Round your final answer to the nearest 2 decimal places