A publisher brings a new book on the market. The demand for the book is q = 500−10p where q denotes quantity and p price. The publisher has to pay an initial cost of $100 to be able to print the book, and the printing of each book costs $1.
(a) What is the total revenue of the publisher depending on the number of books sold?
(b) What is the total cost of the publisher depending on the number of books sold?
(c) What does the marginal revenue measure? Calculate the marginal revenue for 1,2,3 and 4 books produced.
(d) Which two effects result in monopolist?s marginal revenue being smaller than the demand? Which of the two effects is absent under perfect competition and why?
A publisher brings a new book on the market. The demand for the book is q...
A publisher brings a new book on the market. The demand for the book is q = 500 – 10p where q denotes quantity and p price. The publisher has to pay an initial cost of $100 to be able to print the book, and the printing of each book costs $1. (a) What is the total revenue of the publisher depending on the number of books sold? (b) What is the total cost of the publisher depending on the...
2. A publisher brings a new book on the market. The demand for the book is q = 500 - 10p where q denotes quantity and p price. The publisher has to pay an initial cost of $100 to be able to print the book, and the printing of each book costs $1. (a) What is the total revenue of the publisher depending on the number of books sold? (b) What is the total cost of the publisher depending on...
A publisher brings a new book on the market. The demand for the book is q = 500−10pwhere q denotes quantity and p price. The publisher has to pay an initial cost of $100 to be able to print the book, and the printing of each book costs $1. (a) What is the total revenue of the publisher depending on the number of books sold? (b) What is the total cost of the publisher depending on the number of books...
A publisher brings a new book on the market. The demand for the book is q = 500−10pwhere q denotes quantity and p price. The publisher has to pay an initial cost of $100 to be able to print the book, and the printing of each book costs $1. (a) What is the total revenue of the publisher depending on the number of books sold? (b) What is the total cost of the publisher depending on the number of books...
2. A publisher brings a new book on the market. The demand for the book is q 1000 20p where q denotes the quantity and p the price of the book. The publisher has to pay an initial cost of 200$ to be able to print the book, and the printing of each book costs 1$. (a) What is the total revenue of the publisher depending on the number of books sold? (b) What is the total cost of the...
POLUJOL LLLLS LL. 2. A publisher brings a new book on the market. The demand for the book! is q = 1000 - 20p where q denotes the quantity and p the price of the book. The publisher has to pay an initial cost of 200$ to be able to print the book, and the printing of each book costs 1$. (a) What is the total revenue of the publisher depending on the number of books sold? (b) What is...
Please show all work including graphs and write neatly.
2. A publisher brings a new book on the market. The demand for the book is q = 1000 - 20p where q denotes the quantity and p the price of the book. The publisher has to pay an initial cost of 200$ to be able to print the book, and the printing of each book costs 1$. (a) What is the total revenue of the publisher depending on the number...
A U.S. textbook publisher is introducing a new economics textbook, Managerial Economics – It is no Graphing matter, to the domestic market. Each book is produced at a constant marginal cost of $80 per book. Management predicts that annual domestic demand for the book is: PD = 284 – 0.4QD, where PD = price of a book in dollars, and QD denotes the number of books (in thousands). Due to limited printing capabilities, the total capacity for books is set...
3. The market illustrated below has inverse demand p(Q) = 130 - 3Q and industry-wide marginal cost MCQ) = 10 + 2Q. If production is competitive, this is the market (inverse) supply curve. If production is consolidated under a monopolist, this is the monopolist's MC curve. a. Suppose there is a monopolist. Explain how marginal revenue for a monopolist is different than for a firm under perfect competition. Then derive the profit-maximizing market outcome (including the monopoly price and quantity...
. A U.S. textbook publisher is introducing a new economics textbook, Managerial Economics -It is no Graphing matter, to the domestic market. Each book is produced at a constant marginal cost of $98 per book. Management predicts that annual domestic demand for the book is Po 278 0.3Qo, where Po-price of a book in dollars, and Qp denotes the number of books (as measured in thousands). a. Assuming no costs beyond the MC of $98 per book, state the profit...