Answered: If marginal cost and marginal revenue…

Business

Economics

If marginal cost and marginal revenue of a firm A is $30 and $56 respectively Calculate the value of Marginal profit

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter6: Proudction Costs

Section: Chapter Questions

Problem 9SQP

See similar textbooks

Related questions

Q: Assume a certain firm is producing 1000 units of output. At Q = 1,000, the firm's marginal cost…

A: The firms, businesses, organizations, and other producers work with the motive to produce a given…

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

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

Q: Price ATC D ab cd Quantity If the firm depicted in the graph above is attempting to maximize profit,…

A: Monopolistic competition is a market arrangement in which numerous large sellers compete for the…

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: 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: At the profit-maximizing level of output, marginal profit is also maximized O is zero is positive is…

A: Any will firm maximize profit where: Marginal Revenue = Marginal Cost Marginal Profit = MR - MC

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: If marginal revenue is $45 and the change In output is 4 units What will be the change in total…

A: The information given to us is:- Marginal revenue = $45 Change in the output = 4 units We have to…

Q: Calculate marginal profit if marginal cost and marginal revenue are $44 and $80 respectively

A: The data presented in the question above is:- Marginal revenue = $80 Marginal cost = $44 Marginal…

Q: MC Isoprofit curve 40 Isoprofit curve AC 20 10 20 Quantity (Q) The above diagram depicts the…

A: At point B the Price is 35 and the quantity is 20. The average total cost of producing 20 units is…

Q: Given a profit function: π(Q) = TR(Q) − TC(Q) Shows that for total profit function of Q will be…

A: In economics, it is assumed that firms work towards achieving their objective of…

Q: Marginal profit is $4 and marginal revenue is $39 Calculate marginal cost

A: Given: Marginal profit=$4 Marginal revenue=$39 To find: Marginal cost

Q: If marginal cost is $37 and marginal profit is $8 Calculate marginal revenue

A: Marginal cost (MC): - it is the additional cost incurred due to the production of additional units…

Q: b) A firm's total cost function is TC = 0.1Q³ -0.5Q² + 8Q + 10 and total revenue is TR = 52Q -0.25Q²…

A: As given TC = 0.1Q3 -0.5Q2+8Q +10 TR = 52Q - 0.25Q2 +8

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: A company that sells beef to consumers and producers of beef jerky. The firm's demand function D and…

A: To draw the graph of company, we derive values of demand function and MR , MC P D1 D2 MR1 MR2…

Q: Calculate marginal revenue if Marginal cost is $300 and marginal profit is also $300

A: Given : Marginal Cost = $300 Marginal Profit = $300

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: If marginal profit is $32 and marginal revenue is $50 Find Marginal cost

A: The data presented In the question above is:- Marginal profit = $32 Marginal revenue = $50…

Q: uppose perfect competitive firm short run cost function total cost=1/3q3+3q2+10Q+40 .…

A: Total Cost = 1/3q3+3q2+10Q+40 Market Price = 26

Q: If the intersection where MR (Marginal Revenue) = MC (Marginal Cost) occurs BELOW the TPC at that…

A: Marginal Revenue: Marginal revenue is a central concept in microeconomics that describes the…

Q: can you answer part iv and v?

A: For question number 4 and 5, Total revenue TR = 40q – 12q2 AC(q) = 1/30 q2 – 12.85 q + 20 + 400/q…

Q: Discuss the concept of marginal revenue and average total cost using the example of a particular…

A: Marginal revenue is the additional revenue to the total revenue when one more unit of output is…

Q: What is the relationship between marginal revenue (MR) and average revenue (AR)? Select one: a. AR…

A: The answer is - d. AR increases when MR is greater than AR.

Q: ONE A. Suppose the marginal cost and marginal revenue (in ¢000) for a product produced by a company…

A: The equations are given as follows: MC=q+35MR=560+22q-q2 We…

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: 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: Find marginal profit if:- Marginal revenue =33 Marginal cost = 12

A: The data presented in the question above is:- Marginal revenue =33 Marginal cost = 12 We have to…

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: Michael Scott's recently founded paper company, aptly named "Michael Scott Paper Company" sets the…

A: Given Information Total Cost = 3q +10Price = $5.5/reamTotal Revenue = $34,100

Q: f the marginal revenue is MR=26-Q , find the highest level of production (Q) of the firm when its…

A: It gives the amount of dollars in revenue that a firm collects from selling its one more unit of the…

Q: If marginal cost is $13 and marginal revenue is $40 Calculate marginal profit

A: The information being given is:- Marginal cost = $13 Marginal revenue = $40 We have to calculate…

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: If marginal profit is $17 and marginal revenue is $41 Find the value of Marginal cost

A: The given information is as follows:- Marginal profit = $17 Marginal revenue = $41 We have to…

Q: Calculate the value of marginal cost when marginal revenue is $87 and the Marginal profit is $20

A: The difference between both marginal revenue and marginal cost is said to be as the marginal profit.…

Q: a company's marginal revenue is greater than its marginal cost, then the company should

A: Marginal revenue is the additional revenue earned when an extra unit is sold.

Q: Select one: O a. Positive economic profit O b. Economic loss c. We can not tell from the figure. d.…

A: The figure represents market under perfect competition. Perfect Competition: It refers to a market…

Q: What will be the marginal revenue of the firm if the firm has gained marginal profit of $45 and the…

A: The information given to us is as follows:- Marginal profit of the firm = $45 Marginal cost = $100…

Q: A firm TC = 120 + 50g - 10q? + q* Find the equations for a) Total Variable Cost b) Average Variable…

A: Question Two: TC = 120 + 50q - 10q2 + q3 (A) Variable cost is that part of TC which depends on…

Q: If a firm has total revenue of $100,000, the owner's labor in the firm is valued at $20,000, and the…

A: find below the answer.

Q: If change in total revenue is $360 and the change in output is 8 units Find marginal revenue

A: The data presented in the question above is:- Change In Total revenue = $360 Change in output = 8…

Q: Calculate the value of marginal profit when marginal revenue Is $400 and the marginal cost is $230

A: # The marginal revenue and marginal cost helps us gain the idea about the marginal profit. The…

Q: The cost and revenue functions for a company that manufactures x table saws are given. R(x) = 200x –…

A: By dividing total revenue(TR) by quantity(x) we will get the average revenue(AR) and by dividing…

Q: Comment why is this point significant analytically.

A: Marginal cost is defined as the change in total cost that results from the production of an…

Q: Calculate the value of Marginal revenue if total revenue change by $180 and the total output change…

A: According to the above given question, the values given are:- Change in total revenue = $180 Change…

Q: If the marginal revenue is 45 and the marginal cost is 45 also. What can you say about the firm's…

A: Profit maximization is the process through which corporations and organizations devise methods to…

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…

Q: Calculate marginal profit if:- Marginal revenue = $50 Marginal cost = $22

A: The data presented in the question above is:- Marginal revenue = $50 Marginal cost = $22…

Question

If marginal cost and marginal revenue of a firm A is $30 and $56 respectively

Calculate the value of Marginal profit

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

A computer company produces affordable, easy-to-use home computer systems and has fixed costs of 250. The marginal cost of producing computers is 700 for the first computer, 250 for the second, 300 for the third, 350 for the fourth, 430 for the fifth, 450 for the sixth, and 500 for the seventh. Create a table that shows the companys output, total cost, marginal cost, average cost, variable cost, and average variable cost. At what price is the zero-profit point? At what price is the shutdown point? If the company sells the computers for 500, is it making a profit or a loss? How big is the profit or loss? Sketch a graph with AC, MC, and AVG curves to illustrate your answer and show the profit or loss. If the firm sells the computers for 300, is it making a profit or a loss? How big is the profit or loss? Sketch a graph with AC, MC, and AVG curves to illustrate your answer and show the profit or loss.
Return to Figure 7.7. What is the marginal gain in output from increasing the number of batters from 4 to 5 and from 5 to 6? Does it continue the pattern of diminishing marginal returns? Figure 7.7 How output Affects Total costs
Compute the average total cost, average variable cost, and marginal cost of producing 50 and 72 haircuts. Draw the graph of line three curves between 60 and 72 haircuts.
The WipeOut Ski Company manufactures skis for beginners. Fixed costs are 30. Fill in Table 7.16 for total cost, average variable test, average total cost, and marginal cost.