Elixir Spring produces a unique and highly prized miner- al water. The firm's total fixed cost is $5,000 a day, and its marginal cost is zero. The table shows the demand schedule for Elixir water. Quantity (dollars per bottle) (bottles per day) Price 10 8 6 4 2 2,000 4,000 6,000 8,000 10,000

Q: Use the following demand schedule to determine total and marginal revenue for each possible level of…

A: Total revenue= p×q where, p= price of good q= quantity of good Marginal revenue= TRn-TRn-1 where,…

Q: Output TC $10 14 17 ATC AFC AVC MC MR 19 22 26 31 37 44 52 N345O789

A: I decided to create a burger restaurant named BurgerDeals to help pay for college fees. The table…

Q: Johnny Rockabilly has just finished recording his latest CD. His record company’s marketing…

A: The firm would always produce output at a level where the marginal cost is equal to marginal…

Q: A local microbrewery has total costs of production given by the equation TC=500+10q+5q2. This…

A: We have, Total cost = TC = 500+ 10 q + 5 q^2 Marginal cost = MC = 10 +10q Demand equation = QD = 105…

Q: Westhouse can sell 30 generator at a price of at most $5,000 dollars and can sell 31 generators at a…

A: Marginal Revenue is considered as the change in the total revenue generated by the firm when it…

Q: Discuss the importance of price elasticity of demand, income elasticity of demand and cross price…

A: Since you have posted multiple questions we are answering, only the first one, repost the remaining…

Q: Subject:Business economics Q.1): Apublisher faces the following demand schedule for the next novel…

A: Given: The fixed price author is paid is = $2 million The marginal cost of the book is constant at =…

Q: A local microbrewery has total costs of production given by the equation TC=500+10q+5q^2. This…

A: Total cost equation,TC=500+10q+5q2Marginal cost equation, MC=10+10qDemand function, Qd=105-12P

Q: Question 1 In Ontario, the market for pop is controlled by Pepsi and Coke (we assume that consumers…

A: A monopolist maximizes its profits at the selling point where marginal revenue equals marginal cost…

Q: B). The firm produce two products A and B. Demand are independent and marginal costs are zero. The…

A: An effective marketing technique known as bundling makes it easier for customers to buy many items…

Q: You just got a patent for the first commercial self-driving car. The following table show the…

A: Elasticity of demand for a good is an indicator of the sensitivity of the same towards price.…

Q: The daily demand for bungee jumping over a river in South Africa is given by Q=5000-200P. There are…

A: given, demand curve = Q= 5000-200P or, P = 25 -Q/200Total Revenue curve = P.Q = 25Q - 1/200Q^2…

Q: Skinhead Ltd Co. has a competitive market and faces costs of production as follows: Quantity TFC…

A: “Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Duck Donuts sells plain and premium donuts.  Premium donuts are plain donuts with special toppings.…

A: Demand for plain donuts, PPL=3-0.2QPL Total revenue of plain donuts, TRPL=…

Q: Peter's Pills is the only chemist in a small town. Peter's is located near the train station and…

A: Price discrimination refers to the practice of charging different price from different consumers for…

Q: economic profits.

A: 1. please find the graph below with labels showing The profit-maximizing output and price, labeled…

Q: Your first assignment is to determine the demand curve and the marginal revenue curve for the new…

A:

Q: You live in a town with 300 Adults and 200 children, and you arc thinking about putting on a play to…

A: a) Total revenue can be calculated by using the following formula. ToAskedtal Revenue = Price x…

Q: A hair salon has very loyal customers and faces a weekly demand for blowouts equal to qD = 1,040 –…

A: Answer to the sub parts (g), (h) and (i) are as follows :

Q: Use this information to answer the question number 3 : Only one firm which are owned by Mr.Smith…

A: We will use Profit maximisation condition and a relationship between Marginal revenue and elasticity…

Q: čompetitive tirm's short run equilibrium level of output: P=MR=MC=DATC results in the firm earning a…

A: The price of a product is the monetary value that is determined by the producer and is paid by the…

Q: Exercise-Universal Shampoo is a price taker firm. Its costs are:    Output  (Shampoo per hour)…

A: Hello, thank you for the question. Since there are multiple sub-part questions asked here, only the…

Q: A firm engages in block pricing. Consumer’s demand is P=10-Q and total cost is C=2Q. what is the…

A: Firms with market power can price discriminate. Price discrimination refers to the practice of…

Q: V.A producer faces the following demand schedule for the next medicine from one of its popular…

A: Note:- Since we can only answer up to three subparts, we'll answer the first three. Please repost…

Q: e the situati

A: Purchasing power of a consumer is the amount of goods and services which could in turn be purchased…

Q: Question Figure 7.11 depicts the demand curve for Beautiful Cars, together with the marginal cost…

A: It is given that at Q = 32 and Price = $5440, the profit is $63360   If the firm chooses to producer…

Q: You are the owner of a car dealership and you practice “no haggle” sales policy. Last year, you made…

A: How much should you charge to maintain your record profit. To find record profit we will apply…

Q: BNW is one of many producers of luxury wheelchairs, which are differentiated to appeal to different…

A: The firm produces at MR=MCwhereQ=300 and P=1200Price per chair:$1200Quantity of chairs: 300

Q: CuiculatC tie po t clustioty of IUmumu ut p 127. A firm faces a demand function (where q=quantity…

A: Total revenue is the value of the goods and services sold at a time. It is calculated by the price…

Q: Cho owns a plot of land in the desert that isn’t worth much. One day, a giant meteor falls on her…

A: If Cho decides to set a different price for different markets, to generate maximum revenue; then, he…

Q: The following table shows the demand and supply for a popular pair of shoes sold by Akron Enterprise…

A: At Equilibrium Price, quantity demanded of a product is equal to quantity supplied. A price floor is…

Q: Sketch a graph of the theater's demand functions, marginal revenue, and marginal cost to find the…

A: Hi! Thank you for the question, As per the honor code, we are allowed to answer three sub-parts at a…

Q: Alchem (L) is the price leader in the polyglue market. All 10 other manufacturers(follower [F]…

A: The rise or decrease in the cost of producing one more item or serving one more client is referred…

Q: Joyce owns a gas station and monopolizes gas sales along a remote stretch of road. In February,…

A: We are authorized to answer one question at a time since you have not mentioned which question you…

Q: Yummy Yummy Popcorn, Inc. sells bags of flavored popcorn in a popular mall. As shop owner and…

A: Price elasticity of demand measures the responsiveness in quantity demanded of a commodity to a…

Q: ABC Cosmetic is going to launch a new special cleansing cream for men. It has a constant marginal…

A: Elasticity of demand depicts how much consumer responds with the change in price.

Q: Given the level of demand below, what is the marginal revenue of the fifth unit of production?…

A: The MR i.e. Marginal Revenue is the revenue from one extra unit sold.

Q: Suppose, in a small city, a large share of the supply of COVID vaccine comes from USA and UK.…

A: Here MC=$2 per vaccine Price(P) Quantity(Q) Total Revenue(TR) Average Revenue(AR)= TRQ change in…

Q: Imagine you are the owner of the Omaha Surfboard Company. You have a branch in Omaha and in Long…

A: The main objective of any firm is to maximize its total profits. Total profits of the firm are…

Q: Consider the market for a particular good where the inverse demand curve is P = 140- Q. There is one…

A: Given  P = 140 - Q Marginal Cost (MC) = 10

Q: Required: (i) Calculate the firm's marginal cost when Q = 5 (ii) Calculate the own-price elasticity…

A:

Q: (11.7). An airline has been collecting data to estimate demand for flights between Greenville, South…

A: Any firm maximizes profits where MR=MC Here, p = 1000 -2q Therefore TR = p*q TR = 1000q - 2q2 MR =…

Q: We assume perfect competition on the market for Mobil phones. The demand and supply curve is given…

A: Demand equation: P = 7000 - 50X Supply equation: P = -5000 + 100X Equilibrium in the market occurs…

Q: Consider the following information: TC = 15 + 5Q + Q² Q = 30 – P Where TC is total cost, Q is the…

A: Profit maximizing refers to a scenario at which a firm is maximizing its profit. It is the level of…

Q: Elixir Spring's mineral water is unique and highly prized. The firm's total fixed cost is $4,000 a…

A: Profit maximisation is the process by which a company determines the pricing, input, and output…

Q: Cost and Revenue 12 11 10 8765432 MC -MR ATC AVC 0 3 4 5 6 7 8 9 10 Quantity The above graph shows a…

A: Here, the given graph shows the firms, revenue and cost curves.

Q: Output TC MC ATC 25,300 $ 103,000 $ 153,000 0.53 50,300 1.03 es 75,300 190,500 2.53 100,300 278,500…

A: Since you have posted a question with multiple sub-parts, we will solve first three subparts for…