The marginal revenue R=296 - 4q and marginal cost is 72 with fixed cost 2,000. Find the price that will maximize profit. O A. 184 B. 159 O C. 168 O D. 196 Clear my choice
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- Only typed answer When the local electricity company charges a price of $20 per kilowatt they sell 1,000 units. If they raise the price by $1 they sell 800 units. What is the marginal revenue between $20 and $21? a) $21 b) $3,200 c) $200 d) $1Total Total Revenue Cost Quantity (TR) (TC) Profit (MR) (MC) 0 0 8 1 8 10 2 16 11 3 24 13 4 32 16 5 40 20 6 48 27 7 56 36 8 64 47 9 72 65 10 80 90 Marginal Marginal Revenue Cost Fill in the table to determine the profit maximizing level of output, price, and profit. The optimal quantity is A/ A (number) units, the optimal price is (number) dollars, which maximizes (number) dollars. This table A profits at displays profit maximization under the (perfect competition / monopolistic competition / oligopoly / monopoly) market structure.Suppose for a single firm thatP = 15TC = 3Q + 2Q2 (a) What is the profit-maximizing quantity? (b) What is the profit at the profit-maximizing quantity? Only typed Answer
- J 7 let: MC = 12Q⁵+5Q⁶-4Q⁵-5 MR = 16Q¹⁵+15Q²-12Q⁶-10Q MP = 12X⁵+25X⁷-24X⁴-7X Determine the functions of total cost, total revenue, total production5. The Marginal Product of the first worker is _______ units of output 6. Diminishing Returns sets in when output is equal to_______.7. The TVC of 90 units of output is equal to ______dollars.8. The TC of 125 units of output is equal to ______dollars.9. If the market price of output is equal to $2, then this firm will realize a profitof _________ dollars.10. If the firm employs 3 workers, its TVC is equal to _________dollars. Plz solved all part I give u thumbAmrita sells 100 boxed lunches per week at a price of $5 per lunch. If she charges $3 per lunch she can sell 150 per week. Based on this information, the Marginal Revenue from selling the additiona lunches is A. $0 per lunch B. $3 per lunch C. $1 per lunch D. $5 per lunch
- 5. Suppose that the unit price of a commodity of firm X is defined by: P- 90 - Q and the total cost of producing this commodity is defined by the cost function: TC- 100+0.5Q, compute 1. Find the level of output and price which maximize profit. 2.Find the maximum profit 3. Check the second order condition 4 Total revenue (TR) is the total receipts collected from sale of goods or services in the market(Module 52) Theo sells baby rattles at $3 per unit and each month he sells 3000 units out of the back of his wagon in the city park. Theo has no employees and estimates he could rent his wagon to another entrepreneur for $2000 each month. He also knows that he could earn about $5000 a month as a model. He pays $1 per unit for plastic, his only raw material. a. Calculate Theo’s total monthly revenue. b. Calculate Theo’s accounting profit. Show your work. c. Calculate Theo’s economic profit. Show your work. d. Should Theo continue to sell his baby rattles in the park? Explain.: A firm sells its product in two… QuestionAsked Feb 17, 2019104 views A firm sells its product in two different markets. The inverse demand in market A is PA = 72 - 5QA and in market B, it is PB = 60 - 3QB. It has fixed costs of 72. Each unit it produces costs 12, i.e., marginal cost equals 12. To maximize profits, what quantities of output will be sold in each market and what will total profits be?
- Suppose that the market price increases to 6, as Table 8.14 shows. What would happen to the profit-maximizing output level?Assume John sells milk at AUD2.50 per litre. Also, assume John sells each pizza at AUD 10.00. Calculate John's accounting profit and economic profit for the month of January.41-Marginal cost can be improved by taking which of the following steps? O a. Reducing fixed costs. O b. Increasing the variable cost O c. Changing the business plan frequently O d. Investing the capital in share market
