What is the total revenue (TR) function in terms of Q? O 120,000Q – 10,000 x Q? 12Q - 10,000 O 120,000Q 10,000 O Q- 10,000 What is the marginal revenue (MR) function? O 120,000 5,000
Q: 40 30 20 10 5. 10 15 20 25 30 Quantity The figure above portrays a total revenue curve for a…
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Q: Assume the XYZ Corporation is producing 20 units of output. It is selling this output in a purely…
A: "In economics, cost refers to the value of money that is spent in order to produce a good." "Total…
Q: If the inverse demand function is p=800-4Q what is the marginal revenue function? Draw the…
A: P = 800 - 4Q Total Revenue (TR) = Price (P) * Quantity (Q) TR = (800 - 4Q) * Q TR = 800Q - 4Q2…
Q: e marginal revenue of a firm is given by the following equation: MR(Q) = 14 + 15Q + 11Q2 Where, Q…
A: Given, MR(Q) = 14 + 15Q + 11Q2 …(1) Marginal revenue is obtained is calculated as the derivative of…
Q: Consider the following production and cost functionsq=〖(10K^(2/5)+5L^(2/5))〗^(5/2)1250=20K+8LWhich…
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Q: Question 1: Given the following cost function: TC = 1500 + 15Q – 6Q2 + Q3 i. Determine the total…
A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…
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A: a) Output TC MC ATC 25400 104000 0.54 104000/25400= 4.09 50400 154000 1.04 154000/50400= 3.05…
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Q: Given the following cost function: TC = 1500 + 15Q – 6Q2 + Q3 i. Determine the total fixed cost for…
A: Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: P=21 - 0.7 Q price per kilo and Q is the kilos of coffee demanded and her total costs are given by…
A: A firm produces at the output level where MC equals MR in order to maximize profit.
Q: (Figure: Marginal Revenue Curve I) What is the equation for this firm's marginal revenue curve?…
A: Ans:- The correct option is (b) MR = 18 - 3Q
Q: Given the demand function P = 100 - 4Q. For what values of Q is the total revenue TR is 0 ? %3D O a.…
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A: The answer is - d. AR increases when MR is greater than AR.
Q: Q1) 3x2 ( 12x3 + 20 )0.5 within the range 6 and 8.
A: Given information Y=3X^2*(12X^3+20)^0.5
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A: In a perfectly competitive market at equilibrium : MR = MC
Q: Table Cost.EX2.2: Data for a Competitive Firm Marginal Marginal Output Cost Revenue (Q) (MC) (MR) 1.…
A: Output MC TC MR TR Profit = TR -TC 1 3.5 3.5 7 7 3.5 2 4.5 8 7 14 6 3 5.5 13.5 7 21 7.5 4…
Q: Short-Run P Marginal Cost $105 Average Total Cost Average Variable Cost $88 $55 460 1675 600 Refer…
A: Profit is maximized where marginal revenue is equal to marginal cost.
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Q: Market price = $50 Market price = $150 Market price = $250 Output Total revenue Profit…
A: The answer to the question is given in three tables below :
Q: (a) Teddy J is a manufacturer of dish washing liquid. If his monthly demand function for 750ml size…
A: Demand function is given by q =4000 - 250p Cost function is given by C(q) = 500 + 0.2q
Q: dTC МС - = 25 + 30Q – 9Q² dQ and fixed cost, FC = 55, find the (i)total 4. Given marginal cost,…
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Q: Price and cost MC ATC AVC $40.50 36.00 MR 30.00 22.00 20.00 130 180 240 Quantity Suppose the Price…
A: As given in the question:-
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- If the inverse demand function is p=800-4Q what is the marginal revenue function? Draw the demand and marginal revenue curves. At what quantities do the demand and marginal revenue curves hit the quantity axis? (Hint: See Q&A 9.1)Faye is an entrepreneur considering whether to enter the market for providing websites to universities offering online learning. The market is currently perfectly competitive, and the market-clearing price is $10,000 per client. Her marginal cost is given by the equation MC = 200Q. a. In this market, what is Faye’s marginal revenue function? b. If Faye enters the market, how many website clients will she have, and what will her profit be? You can assume no fixed cost. Now imagine Faye asks you for advice. She knows you have just taken this course, and you learned about market power. c. Explain two ways Faye can achieve greater market power in this market. Faye takes your advice, and she is now the monopolist in a new market, where the demand curve is given by Q = 300,000 – 1,000P d. What is Faye’s new marginal revenue curve? e. In this new market, how clients will she have, and at what price will she sell her services? Now imagine you see all the profits Faye is making and you decide…Question 1: Given the following cost function:TC = 1500 + 15Q – 6Q2 + Q3i. Determine the total fixed cost for producing 1000 units of output and 500 units of output.ii. What is AFC at:a) 1000 units of outputb) 500 units of outputiii. Determine TVC, AVC, MC and AC at 50 units of output. Question 2: The demand function equation faced by PTCL for its computers is given by:P = 50,000 – 4Qi. Write the marginal revenue equationii. At what price and quantity marginal revenue will be zero?iii. At what price and quantity will total revenue be maximized? Question 3: Suppose the following demand and supply function:Qd = 750 – 25PQs = -300 + 20 Pi. Find equilibrium price and quantityii. Find consumer and producer surplus Question 4: Given production function:Q = L 3/4 . K1/4Find out the optimal quantities of the two factors using Lagrangian method, if it is given that price of labor is Rs.6 and price of capital is Rs.3 and total cost is equal to Rs.120.Question 5: Given the cost function isTC = 6L…
- The profit-maximizing quantity is the one at which the marginal revenue of the last unit was: O greater than the marginal cost. O less than the marginal cost. O equal to the marginal cost. O zero.Suppose the marginal cost and marginal revenue (in ¢000) for a product produced by a company is estimated to beMC=q+35 MR=560+22q−q2Where q is the quantity produced and the firm’s break-even is 5 units per weekYou are Required to1. determine the total cost and the total revenue function in terms of q.2. estimate the output at which profit is maximize3. calculate the maximum profitSuppose that the total revenue function of a firm is defined as TR= (P)(Q) where TR= f(Q). The usual notation applies. 1. . Find the total revenue function TR(Q) if the inverse demand function is given by P(Q) = 80-0.2Q2. What is the shape of the total revenue function if graphed? State your basis.
- 1. Teddy J is a manufacturer of dish washing liquid . If his monthly demand function for 750ml size is: q = 4000 − 250p and his total cost function is: C(q) = 500 + 0.2q (i) Derive an expression, R(q) for Teddy J′s total revenue curve.(ii) Derive an expression, Π(q) for Teddy J's profit function.(iii) Determine whether Teddy J′s profit is increasing or decreasing when he produces 5 hundred, 750ml bottles of dish washing liquid.The total revenue curve of a firm is R(q) = 40q − 12q2 and its average cost A(q) = 1/30 q2 − 12.85q + 20 +400/q, where q is the firm's output. i. Derive an expression C(q) for the firm's total cost function.ii. Derive an expression Π(q) for the firm's profit function.iii. Is the rate of change of profit increasing or decreasing when theouput level of the firm is 10 units?iv. Determine the level of output for which the firm's profit is maximized.v. What is the firm's maximum profit?c)Given that the cost function MC=x-2x^2-1 and the revenue function as MR=2x^2-3x-1.Assuming pure competition,determine the point atwhich profit maximized and the total profit made.
- he total revenue curve of a firm is R(q)=40q−12q and its average cost A(q)=130q−12.85q+20 +400q,where q is the firms output. i. Derive an expression C(q) for the firms total cost function. ii. Derive an expression Π(q) for the firms profit function. iii. Is the rate of change of profit increasing or decreasing when the ouput level of the firm is 10 units? iv. Determine the level of output for which the firms profit is maximized. v. What is the firmss maximum profit?Suppose the revenue function y=R(x) is linear, and points (x,y) of (10,550) and (13,715) are on the line. a. What is the marginal revenue? b. Suppose also the total costs are given by C(X) = 150 + 15x +2x^2. Find the x-value that maximizes profit.PakMonoG’s inverse demand function is P = 100 – 2Q and cost function is TC = 10 + 2Q, where Q is quantity in units and P price in PKR. Determine the profit-maximizing price, quantity and profit (or loss) of PakMonoG. Given your calculations in (a), illustrate the demand, marginal revenue and marginal cost curves of the firm in a graph. If we were to compare PakMonoG with a perfect competitive firm in the market, are there differences in characteristics of the two structures? What are welfare implications? Is total societal welfare of the firm higher or lower than that of a competitive firm? Support your answer using the graph in (b) above.