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- Solve for Question (C) How to Maximize RevenueQUESTION 2 Mrs Tobani who was earning an annual income of K4,000 decided to go into business in 2014 by investing his capital which was earning a return of K2,400. In 2014 his accounting profit was K6,000. Calculate: -Mrs Tobani’s total opportunity cost. -His economic profit. - A retail store conducted a study of the demand for trousers. It found that the average daily demand (Q) in terms of price (P) is given by the equation.Q = 700 – 5P -How many trousers per day can the store expect to sell at a price of K100 per trouser? -If the store wants to sell 1000 trousers per day, what price should it charge?Suppose that the manager of a donut shop tellsyou that he sold 220 donuts today, for a total revenue of $220 and average revenue of $0.90. What’swrong with this story?
- Explain in words why a profit-maximizing film will not choose to produce at a quantity where marginal cost exceeds marginal revenue.4. Continuing with the Table of Certificate Programs, complete the calculations for Total Revenue by determining how many customers will purchase at each of the segment's bundle price. Online Self Certifications for Social Work License Certification in Online Counseling Certification as a Group Home Counselor Bundle Customers TR Counseling TR Group Home TR Bundle Segment 1 1000 $190 a $70 e $260 4a Segment 2 1000 $150 b $90 f $240 4b Segment 3 1000 $95 c $160 g $255 4c Segment 4 1000 $35 d $195 h $230 4d 4a) 4b) 4c) 4d)The price p (in dollars) and the quantity q sold of a certain product obey the demandequationq − 800 - 20P and 0 < p < 40 (answer iv and v) (i) Express the revenue R as a function of q.(ii) What is the revenue if 20 units are sold?(iii) What quantity q maximizes revenue? What is the maximum revenue?(iv) What price should the company charge to maximize revenue?(v) What price should the company charge to earn at least $3500 in revenue?
- 10. How much should Frostee's Doggie Donuts charge to maximize its revenue? 11. What is the maximum revenue for the price you listed for Question 10? 12. How much should Frostee's Doggie Donuts charge to maximize its profit?c. Note that these results imply the marginal revenue, or marginal benefit, of website analysis is MB(X) = 11.09 − 0.2 × X and the marginal cost of website analysis is MC(X) = 0.21 × X. What level of website analysis will maximize net benefits? Round to the nearest hundredth.Do you think Coke made the right decision to introduce Coca-Cola with Coffee and Coca-Cola with Coffee Zero Sugar? Discuss TWO (2) reasons why you say it is a right decision or a wrong decision.
- 1) What is the profit-maximizing price?2) What is the profit-maximizing quantity?3) What is total revenue at the profit-maximizing quantity?1. (a) Complete the table below given that each additional unit of output costs 100.(b) At what level of quantity produced does profit become a maximum? What is the relationship between marginal revenue and marginal cost at the quantity where profit is maximized? Explain. (c) If the producer continues to increase output as long as total revenue exceeds total cost, what will be the profit result?13. How can you calculate Total Revenue? What is the formula?