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![for profit maximization - [Mc = me here To = 20 2+1g .. RC = ditu dh MC = 40] Now P= 326-0 Since; total Revenue - price x Qua](http://img.homeworklib.com/questions/4a8d9ac0-792f-11ea-a821-096a792fc6fc.png?x-oss-process=image/resize,w_560)
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Question 8 1 pts Assume P-326 - 10 and TC -119202. What level of production maximizes...
1. The demand for the book is P = 96 – 3Q. A bookstore can order...
1. The demand for the book is P = 96 – 3Q. A bookstore can order copies that will cost $7. If the bookstore orders 11 books, what is the total profit? 2. A firm faces the demand curve: P = 2611 - 10Q. What is the firm’s revenue maximizing price?(round to two decimal places if necessary). 3. If TC = 42 + 20Q + 4Q2 , what is the marginal cost at when Q=10? 4. Assume P = 84...
Question 4 Suppose that the price-Demand (p-D) relationship for a product is p Cost (TC) of...
Question 4 Suppose that the price-Demand (p-D) relationship for a product is p Cost (TC) of manufacturing the product is 10-0.2D and the Total TC 10-D+0.3D2 . (a) Determine the value of D that maximizes the Total Revenue, TR, and indicate how you know that this D maximizes TR. (10 marks) (b) Determine the value of D that maximizes profit, 11, and indicate how you know that this value of D maximizes Π. (10 marks)
(10 pts) A firm has the following relationship between output (Q) and total cost (TC): Q...
(10 pts) A firm has the following relationship between output (Q) and total cost (TC): Q TC 0 $100 1 110 2 130 3 160 4 200 5 250 6 310 7 380 8 460 9 550 10 650 Say the firm is a perfect competitor. If the market price for its product is $ 80, at what output level will this firm produce at (as a profit maximizer)? At the output level in (a), are firms in this industry...
Assume TR(Q) = 150 + 500-50° and TC(Q) = 100 + 6Q Create a table in...
Assume TR(Q) = 150 + 500-50° and TC(Q) = 100 + 6Q Create a table in Excel showing TR(Q), MR (0), TC(Q), MC (Q), π (Q), and marginal profit, as O goes from 0 to 10 in increments of 1 b. Identify the level of Q that maximizes profit. c. At the level of Q that maximizes profit, what is the relation between MR and MC? d. At the level of Q that maximizes profit, what is marginal profit? e....
Assume that the significance level is a =0.01. Use the given information to find the P-value...
Assume that the significance level is a =0.01. Use the given information to find the P-value and the critical value(s). The test statistic of z = 1.47 is obtained when testing the claim that p > 0.6. Click here to view page 1 of the Normal table. Click here to view page 2 of the Normal table P-value = 0.0708 (Round to four decimal places as needed.) The critical value(s) is/are z u . (Round to two decimal places as...
Find the critical value tc for the confidence level c = 0.99 and sample size n = 8.
Find the critical value tc for the confidence level c = 0.99 and sample size n = 8. Find tc. Round to three decimal places as needed.
Question 9 20 pts Assume that a sample is used to estimate a population proportion p....
Question 9 20 pts Assume that a sample is used to estimate a population proportion p. Find the margin of error E that corresponds to the given statistics and confidence level. Round the margin of error to four decimal places. 95% confidence; n = 396 x = 48 Question 10 20 pts Use the given degree of confidence and sample data to construct a confidence interval for the population proportion p. Of 150 adults selected randomly from one town, 30...
This Tes 4 of 13 (1 complete) This Question: 1 pt Assume that the significance level...
This Tes 4 of 13 (1 complete) This Question: 1 pt Assume that the significance level is α-0.05. Use the given information to find the P-value and the critical value(s). The test statistic of z-1.23 is obtained when testing the claim that p 0.2. Click here to view page 1 of the Normal table. Click here to view page 2 of the Normal table. P-value = □ (Round to four decimal places as needed.) The critical value(s) is/are z Round...
A firm faces the following average revenue (demand) curve: P = 130 - 0.02 where Q...
A firm faces the following average revenue (demand) curve: P = 130 - 0.02 where Q is weekly production and P is price, measured in cents per unit. The firm's cost function is given by C = 50Q + 20,000. Assume that the firm maximizes profits. a. What is the level of production, price, and total profit per week? (Round all responses to two decimal places.) The equilibrium quantity is 2000 units, the price is 90 cents, and the total...
A-D This Question: 1 pt 8 of 10 (8 complete) This QUIZ: 10 pts possible A...
A-D
This Question: 1 pt 8 of 10 (8 complete) This QUIZ: 10 pts possible A simple random sample of size n= 15 is drawn from a population that is normally distributed. The sample mean is found to be x = 27.4 and the sample standard deviation is found to be s = 6.3. Determine if the population mean is different from 24 at the a=0.01 level of significance. Complete parts (a) through (d) below. (a) Determine the nul and...
Question 4 Suppose that the price-Demand (p-D) relationship for a product is p Cost (TC) of manufacturing the product is 10-0.2D and the Total TC 10-D+0.3D2 . (a) Determine the value of D that maximizes the Total Revenue, TR, and indicate how you know that this D maximizes TR. (10 marks) (b) Determine the value of D that maximizes profit, 11, and indicate how you know that this value of D maximizes Π. (10 marks)
Assume TR(Q) = 150 + 500-50° and TC(Q) = 100 + 6Q Create a table in Excel showing TR(Q), MR (0), TC(Q), MC (Q), π (Q), and marginal profit, as O goes from 0 to 10 in increments of 1 b. Identify the level of Q that maximizes profit. c. At the level of Q that maximizes profit, what is the relation between MR and MC? d. At the level of Q that maximizes profit, what is marginal profit? e....
Assume that the significance level is a =0.01. Use the given information to find the P-value and the critical value(s). The test statistic of z = 1.47 is obtained when testing the claim that p > 0.6. Click here to view page 1 of the Normal table. Click here to view page 2 of the Normal table P-value = 0.0708 (Round to four decimal places as needed.) The critical value(s) is/are z u . (Round to two decimal places as...
Question 9 20 pts Assume that a sample is used to estimate a population proportion p. Find the margin of error E that corresponds to the given statistics and confidence level. Round the margin of error to four decimal places. 95% confidence; n = 396 x = 48 Question 10 20 pts Use the given degree of confidence and sample data to construct a confidence interval for the population proportion p. Of 150 adults selected randomly from one town, 30...
This Tes 4 of 13 (1 complete) This Question: 1 pt Assume that the significance level is α-0.05. Use the given information to find the P-value and the critical value(s). The test statistic of z-1.23 is obtained when testing the claim that p 0.2. Click here to view page 1 of the Normal table. Click here to view page 2 of the Normal table. P-value = □ (Round to four decimal places as needed.) The critical value(s) is/are z Round...
A firm faces the following average revenue (demand) curve: P = 130 - 0.02 where Q is weekly production and P is price, measured in cents per unit. The firm's cost function is given by C = 50Q + 20,000. Assume that the firm maximizes profits. a. What is the level of production, price, and total profit per week? (Round all responses to two decimal places.) The equilibrium quantity is 2000 units, the price is 90 cents, and the total...
A-D
This Question: 1 pt 8 of 10 (8 complete) This QUIZ: 10 pts possible A simple random sample of size n= 15 is drawn from a population that is normally distributed. The sample mean is found to be x = 27.4 and the sample standard deviation is found to be s = 6.3. Determine if the population mean is different from 24 at the a=0.01 level of significance. Complete parts (a) through (d) below. (a) Determine the nul and...
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