$72 Marginal Cost $60 $48 $36 $24 $12 Marginal Demand Revenue 100 200 300 400 500 600 Quantity Based on the graph above, find the profit maximizing price and quantity for this monopoly firm. $36 and 200 units $36 and 300 units $48 and 200 units $60 and 100 units
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- Andrea’s Day Spa began to offer a relaxingaromatherapy treatment. The firm asks you how muchto charge to maximize profits. The first two columnsin Table 10.5 provide the price and quantity for thedemand curve for treatments. The third column showsits total costs. For each level of output, calculate totalrevenue, marginal revenue, average cost, and marginalcost. What is the profit-maximizing level of output forthe treatments and how much will the firm earn inprofits?On average, the price of a patented pharmaceutical drops between 30 and 50 percent after the patent expires. Explain why this occurs. (Do not use AI).Shakti Inc. has been granted a patent for its arnica toothache balm. The table to the right shows the demand and the total cost schedule for the firm. What is Shakti's profit minus maximizingoutput? A. 4 units B. 6 units C. 7 units D. 5 units Price per dose (Dollars) Quantity Demanded (Dose) Total Cost of Production (Dollars) $80 0 $80 72 1 82 64 2 88 56 3 100 48 4 124 40 5 164 32 6 208 24 7 268 16 8 340
- A publisher faces the following demand schedule for the next novel from one of itspopular authors:Price Quantity Demanded$ 100 0 novels90 100,00080 200,00070 300,00060 400,00050 500,00040 600,00030 700,00020 800,00010 900,0000 1,000,000The author is paid $2 million to write the book, and the marginal cost of publishingthe book is a constant $10 per book.a. Compute total revenue, total cost, and profit at each quantity. What quantity woulda profit-maximizing publisher choose? What price would it charge?b. Compute marginal revenue. (Recall that MR = ΔTR/ΔQ.) How does marginal revenuecompare to the price? Explain.C. Graph the marginal-revenue, marginal-cost, and demand curves. At what quantitydo the marginal-revenue and marginal-cost curves cross? What does this signify?d. In your graph, shade in the deadweight loss. Explain in words what this means e. If the author were paid $3 million instead of $2 million to write the book, how wouldthis affect the publisher’s decision regarding what…MIcro: The company “Mike Broonie” operates in the market of monopolistic competition. Just now, the company weekly produces and sells 100 units of pillows for £12 each. The average total cost to produce the pillows doesn’t depend on the output, being £10 per unit. Having evaluated the price elasticity of demand for its product, the company concluded that demand is inelastic at the moment. a. What indicator characterizes the price elasticity of demand? What formula (or formulas) one can use to calculate this indicator? Choose any number for this indicator that, under the conditions specified in the case, could characterize the price elasticity of demand for the company “Mike Broonie”. b. Imagine that the owner of the company wants to increase the price of the company’s product. How will it affect sales, revenue, and profit (will each of these indicators increase, decrease, or remain the same)? Give here theoretically substantiated forecast. To increase the number of points…As you review the Facebook site, you note that packagingfor your company’s bread uses the words “heart-healthy.”Would you bring this to the attention of the marketing groupresponsible for product packaging? Or would you look fora way to obscure the package design online? Defend youranswer.
- Exercise 5.8 The makers of Panadol pain reliever do a lot of advertising and have very loyal customers. In contrast, the makers of generic paracetamol do no advertising, and their customers shop only for the lowest price. Assume that the marginal costs of Panadol and generic paracetamol are the same and constant. a. Draw a diagram showing Panadol’s demand, marginal revenue and marginal cost curves. Label Panadol’s price and mark-up over marginal cost. b. Repeat part (a) for a producer of generic paracetamol. How do the diagrams differ? c. Which company has the bigger mark-up? Explain. d. Which company has the bigger incentive for careful quality control? Why? e. How might barriers to entry influence the behaviour of the makers of Panadol ? f. What factors would affect the extent to which the makers of Panadol could engage in predatory or destroyer pricing to force out competitors in this market?f) Redo the already filled out table (part a-c table) but if the FC is $30.What would the new profit maximizing output level be at what quantity? Put it in the table that says part f. g) Redo the already filled out table (part a-c) but if the output price is $42. Fill the new info in table (part g). Look at the graphs because it has what you need.Pick two stages in the household life cycle. Describehow your marketing strategy for the following woulddiffer depending on which group was your primarytarget market.a. Minivanb. Razorsc. Broadway showd. Casino
- onsider total cost and total revenue, given in the following table: In the final column, enter profit for each quantity. (Note: If the firm suffers a loss, enter a negative number in the appropriate cell.) Quantity Total Cost Marginal Cost Total Revenue Marginal Revenue Profit (Dollars) (Dollars) (Dollars) (Dollars) (Dollars) 0 5 0 1 6 6 2 8 12 3 11 18 4 15 24 5 20 30 6 26 36 7 35 42 can you plaes help me with thisYou've decided to sell sweatshirts for the upcoming game. You project that at a price of $33.24 per sweatshirt, you will be able to sell 120 shirts. In order to sell 260 sweatshirts, you would need to lower the price to $23.02 per sweatshirt. In order to produce the sweatshirts, it costs you $2.62 per sweatshirt on top of fixed costs of $340. What price gives a marginal profit of $0 per item. Assume linear demand.Select the correct one : Do both state and federal law protect aganist trademark dilution? A) Only some states have trademark dilution laws, but there is no federal law. B) There is a federal law, but no state law. C) Both federal law and some states have trademark dilution laws. D) Every state has a law against trademark dilution, but there is no federal law. E) Every state has a law against trademark dilution and there is a federal law .
