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?
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When the local electricity company charges a
a) $21 b) $3,200 c) $200 d) $1
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- Natural-ExP is a unique company that is dedicated to making day trips to the Nevado de Toluca. The service includes transportation, food and guide service. Being the number of tickets sold, if the cost function of serving a new customer is Cmg = 20q, the marginal revenue function Img = 600−40q and the demand is q = (600 − p) /20. Under this scenario, what is the price of the excursion. $400 $600 $300 $100SITUATION: You are thinking about becoming a Paradise Coffee franchisee. Franchisees are offered a business specializing in producing an exclusive line of exotic coffee drinks (similar to Starbucks). Franchisees have had good success in towns without a Starbucks (Paradise franchises gross $220,000 sales on average per year, and you believe you can gross as much, too). You will have to pay Paradise Coffee, Inc., a franchise fee of $3,000 a year plus 2.5% of gross sales. You will also pay an annual National advertising fee of 3% of gross sales. Paradise requires that you use their logo-imprinted goods (plates, cups, napkins). They are purchased in bulk from Paradise and will cost you $40,000 per year. You also have to use their special Paradise Roast coffee beans, which cost $12.00 per pound. You estimate you will use 400 pounds of beans a year. Other food ingredients (syrups, biscotti, whipped cream, soft drinks, etc) will cost $18,000 a year. You will have to hire three…What is the marginal revenue for the following: qty: 100, 200 Price:39750, 39500 Revenue:3975000, 7900000 Total Cost: 2000000,4000000 Profits: 1975000,3900000 Marginal Revenue ___?, ___? Suppose that managers at Honda are deciding how to price the new Honda Accord. The managers estimate that their total costs increase by $20,000 for each car they produce. They also estimate the demand curve they face; it is described by the equation: Q = -0.4 P + 16,000, where Q represents the quantity of Honda Accords they will sell and P represents the price they charge in US dollars. We can re-write that demand curve as: P = 40,000 - 2.5 Q. Take every possibly quantity that the managers might choose between 0 and 7,000 in units of 100. For each possible quantity, calculate the associated price the managers would need to charge, the revenue they would earn, and the total costs. You can then calculate profits for each level of quantity. Highlight the cell that contains the highest value of profit.…
- Answer "False" or "True" each of the following. Justify by relying on graphical analysis whenever possible. 1.- A company in perfect competition will maximize profits by equating average income to its marginal cost. 2.- For a company in perfect competition, the demand it faces is equal to the marginal product which is constant. plzz ansr first twoThe demand function for a particular product is given by D(x)=0.5x^2+3x+190‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾√D(x)=0.5x^2+3x+190 dollars, where x is the number of units sold. What is the marginal revenue when 88 items are sold? Round your answer to 2 decimal places. D(x)=0.5x^2+3x+190‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾You sell items. Your marginal revenue and marginal cost are given by the formulas: MR (q)= 9.344-0.8q and MC (q)= 0.1q2-1.2q+5.9 where q is measured in hundreds of items and marginal revenue and marginal cost are in dollars per item. Compute the change in total cost that occurs if quantity increases from 225 to 226 items.
- Amrita 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 lunchA local paintball business receives total revenue of $10,000 per month when it charges $12 per person, and $15,000 in total revenue when it charges $8 per person. Over that range of prices, the business facesA seller can sell three diamond rings at a price of $ 12000 each. If he sells for, his marginal revenue will be $10500. Calculate the price at which he can sell four rings.
- Only typed answer You’ve been given a firm’s production and cost functions: p = 132 − 2q MC = 12 + 4q Assume this firm is in a perfectly competitive market. Calculate the equilibrium price and quantity. What is the firm’s profit here? Assume this firm is in a monopoly market. Calculate the equilibrium price and quantity. What is the firm’s profit here?The Johnson Robot Company’s marketing managers estimate that the demand curve for the company’s robots in 2008 is P = 3,000 - 40Q where P is the price of a robot and Q is the number sold per month. Derive the marginal revenue curve for the firm and determine the marginal revenue for the 10th unit of output. a. $2200 b. $2600 c. $40 d. $80Given: Desktop Publishing Software Inc, develops and markets software packages for business computers. Although, sales have grown rapidly during recent years, the company's management fears that a recent onslaught of new competitors may severly retard future growth opportunities. Therefore, it believes that the time has come to "get big or get out". The marketing and accounting departments have provided management with the following monthly demand and cost information: P = $1,000 - $1Q TC = $50,000 + $100Q Question 1: Find; Derive the Marginal Revenue & Marginal Cost Equations TR = ___________ MR = ___________ TC = ___________ MC = ___________ Question 2: Profit Maximization: Solve for Monthly Q, P, TR, TC and Profit Q = ___________ P = ___________ TR = __________ TC = __________ PROFIT = __________ Question 3: Revenue Maximization: Solve for monthly Q, P, TR, TC, and Profit Q = ____________ P = ____________ TR = ___________ TC = ___________ Profit = __________
