Economics (7th Edition) (What's New in Economics)
Economics (7th Edition) (What's New in Economics)
7th Edition
ISBN: 9780134738321
Author: R. Glenn Hubbard, Anthony Patrick O'Brien
Publisher: PEARSON
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Chapter 13, Problem 13.2.3RQ
To determine

Profit of the hamburger seller.

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You are running a chocolate factory and need to decide on the price to sell the chocolate as well as the quantity to produce. Demand curve; Q = 8.5 - 0.05 * P. The cost curve is C = 100 + 38Q. The business is a profit maximizer.   1) What is the best price to charge each week? 2) What is the best quantity to make each week? 3) What are the expected profits   Is it possible to get this in an excel with equation formulas
What is Economic profit
The market for lattes in Regina, Canada is shown in the attached graph. a) If a coffeehouse charges $4 for a latte, what is its per unit profit on each latte sold? Calculate the profit margin and label it on the graph. b) Assuming free entry and exit, so you expect more coffeehouses to enter this market? Why?
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