How do you calculate a firm's total cost and total revenue?

Q: How do you calculate the revenue of a firm that produces only one good?

A: ANS TR is the value of the total number of goods sold by a firm in monetary terms. It is the product…

Q: Answer the questions and define the phrases/terms and explain the relationship between them when…

A: Answer -

Q: Find marginal cost of the firm given:- Marginal profit = $800 Marginal revenue = $1200

A: Marginal profit = $800 Marginal revenue = $1200

Q: Calculate marginal profit if :- Marginal revenue = $38 Marginal cost = $30

A: The data presented in the question above is:- Marginal revenue = $38   Marginal cost = $30 We have…

Q: A bookstore sells 90 textbooks at a price of $70 a book. The average total cost is $50 per textbook.…

A: Given that : Number of textbooks = 90 Price of a book = $ 70 Average total cost = $ 50

Q: If marginal revenue is $430 and the marginal cost is $320  Find marginal profit

A: According to the above given question, we are given that:- Marginal revenue = $430 Marginal cost =…

Q: Imagine you're owner of domino pizza. How would to maximize store's profit ?

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Q: Calculate the marginal revenue when marginal profit is $23 and the marginal cost is $78

A: # Marginal revenue is the additional revenue generated with the sale of an another unit of good and…

Q: How to calculate the Marginal cost and the Revenue of producing 1, 2,...15

A: Marginal cost can be defined as the change in total cost when one more unit of extra output is…

Q: Calculate the marginal cost when marginal profit is 30 and marginal revenue is 70

A: # Marginal profit is given as the difference between marginal revenue and marginal cost.

Q: After one month of operation, OU Café determined to shorten its business hours and close on…

A: The total costs of any firm includes fixed costs and variable costs. The fixed costs refer to those…

Q: What is the cost revenue? Explain with example?

A: Cost revenue is the total expenditure of producing and delivering a product or service to customers.…

Q: HOW TO CALCULATE PROFIT FROM THIS GRAPH?

A: MR curve has same vertical intercept as demand curve, but half the horizontal intercept of demand…

Q: Which software should you purchase in order to save money in the long run, X or M? Not Satisfied…

A: Given:- Two Softwares X and M with their values being $6000 and $12000. To determine:- which…

Q: The firm has  total revenue $100 and producing total 10 cell phone. How would I calculate average…

A: Total revenue (TR) = $100 Total quantity (Q) = 10 units Average revenue (AR) = ?

Q: Use the table to compute the marginal revenue and marginal cost

A: Marginal revenue is given as the additional revenue generated by producing one more unit of a good.…

Q: Define the term cost of revenue?

A: Revenue is defined as the amount of money or income generated by a firm for a given period of time.…

Q: The marginal profit is $20 and marginal cost is $100 Calculate Marginal revenue

A: The Information being given is:- Marginal profit = $20 Marginal cost = $100 We have to calculate…

Q: If marginal cost and marginal revenue are $30 and $44  Find marginal profit

A: According to the above mentioned question, the values are:- Marginal cost = $30 Marginal revenue =…

Q: Describe the procedure of Gauging Product Cost and Price?

A: The cost of production of a good or service is the aggregate value of the investment made by a…

Q: Please explain how to calculate total revenue

A: Total revenue is the amount that a firm or individual receives after selling the output.

Q: Calculate the value of Marginal revenue when marginal cost is $73 and the marginal profit is 0

A: # the marginal profit is given as the difference between the marginal revenue which is collected by…

Q: Calculate average, marginal, and total revenue.

A: ANSTR is the total receipts of a seller that he earns from selling the goods that it produces. If P…

Q: Calculate economic profit given:- Total revenue = $5000 Explicit cost = $1000 Implicit cost =…

A: The data presented in the question above is:- Total revenue = $5000 Explicit cost = $1000 Implicit…

Q: Calculate Total revenue if average revenue is $15 and output is 1000

A: The information being given is:- Average revenue = $15 Output = 1000 We have to calculate the total…

Q: Why do more sales in not equal more profit

A: An expansion in deals/sales doesn't generally prompt an increment in benefit.  Most organizations…

Q: What is the marginal cost for this product?

A: A cost function refers to the formula that is used to predict the cost that the firm will incur at a…

Q: If marginal revenue is $30 and marginal cost is $15 Calculate marginal profit

A: The information being given is:- Marginal revenue = $30 Marginal cost = $15 We have to calculate the…

Q: How would you calculate a firms total cost and total revenue using this graph?

A: The graph represents perfect competition market condition, and also short run time period since…

Q: the total cost is constant and the total revenue will increase, Explain

A: If price and total revenue both increaased in the market then the demand for the good is inelastic…

Q: Billy’s Bean Bag Emporium produced 300 bean bag chairs but sold only 275 of the units it produced.…

A: Output Produced=300 bean bag chairs Output sold=275 bean bag chairs Average cost for each unit…

Q: If marginal profit and marginal cost are $4 and $36 respectively Calculate marginal revenue

A: Marginal Revenue is the revenue per additional sale of unit , so here we calculate the value of…

Q: How many units should the firm produce to maximize profit?

A: Profit is maximized at the output level, for for which MR = MC.

Q: A. Define marginal revenue and marginal cost.

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: Calculate Marginal revenue when marginal cost is 350 and the marginal profit is 80

A: # The difference between marginal revenue and marginal cost is given as the marginal profit.

Q: Find the marginal profit when the Marginal revenue is $1120 billion and marginal cost is $680…

A:

Q: Express the relationships among revenue, cost, profit, and volume?

A: Producer behavior can be assessed by understanding the relationship between revenue, cost, profit,…

Q: What products will your product compete against? Are there any similar products out there? Name and…

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

Q: How do we measure the Profit Margin on Sales?

A: Profit margin is a type of profitability ratio that represents the percentage of sales that have…

Q: . Which is the other name that is given to the average revenue curve?

A: The average revenue curve represents the revenue per unit for different quantities of output.

Q: (a) Calculate the value of marginal profit when marginal revenue is $400 and marginal cost is $700…

A: # we know that the difference between the marginal revenue and the marginal cost always gives the…

Q: Compare marginal revenue, marginal cost, and marginal revenue product.

A: The concepts of marginal revenue, marginal cost and the marginal revenue product are used by the…

Q: Marginal revenue (MR) is ____ when total revenue is maximized.

A: Marginal revenue is the revenue that can be earned by selling an additional unit of output. Total…

Q: If marginal profit is $33 and marginal revenue is $80 What's the value of Marginal cost

A: The data presented in the question is:- Marginal profit of the firm = $33 Marginal revenue = $80…

Q: In a business where, fixed costs are very high (i.e. the production of a new Music CD, or the…

A: Marginal cost refers to the additional cost of production incurred in the process of increasing…

Q: A bakery sells pretzels. The fixed costs come to $8,750.00 per month. It will cost 35 cents to make…

A: Break-even point=Fixed costSelling price-Variable cost

Q: for this graph answer the following question what is the total revenue? what is the total profit?…

A: Answer- Given in the question-

Q: Calculate the marginal profit when marginal revenue is $84,000 and marginal cost is $77,000

A: # Marginal profit is always given by the difference between marginal revenue and marginal cost. That…