Homework Answers
Marginal Revenue = Change in total revenue / Change in quantity sold = (35 - 20 ) / (2 -1 ) = 15 dollars
Hence, marginal revenue from second sub = $15 ( a)
Add Answer to:
Table: Profit Maximization 1 Quantity Produced Revenue Total Total Costs 0 20 35 45 50 10...
Table 13-11 Measures of Cost for Very Brady Poster Factory Quantity Variable Total Fixed Costs 10...
Table 13-11 Measures of Cost for Very Brady Poster Factory Quantity Variable Total Fixed Costs 10 f Posters Costs Costs 13 $16 10 25 $21 Refer to Table 13-11. The marginal cost of producing the 6th poster is O a. $1.00. b. $3.50 О С. $5.00. O d. $6.00.
ttempts: ampts: 0 Keep the Highest: 0/3 3. Profit maximization using total cost and total revenue...
ttempts: ampts: 0 Keep the Highest: 0/3 3. Profit maximization using total cost and total revenue curves Suppose Sean runs a small business that manufactures shirts. Assume that the market for shirts is a competitive market, and the market price is $20 per shirt. The following graph shows Sean's total cost curve. Use the blue points (circle symbol) to plot total revenue and the green points (triangle symbol) to plot profit for shirts quantities zero through seven (inclusive) that Sean...
COSTS REVENUES Quantity Produced Total Cost Marginal Cost Quantity Demanded Price Total Revenue Marginal Revenue 0...
COSTS REVENUES Quantity Produced Total Cost Marginal Cost Quantity Demanded Price Total Revenue Marginal Revenue 0 $50.00 -- 0 $60 -- 1 $75.00 1 $60 2 $101.00 2 $60 3 $128.50 3 $60 4 $158.50 4 $60 5 $192.50 5 $60 6 $232.50 6 $60 7 $281.00 7 $60 8 $341.00 8 $60 Refer to Table 14-13. What is the economic profit at the profit maximizing point for this firm? a. $187.50 b. $139 c. $39 d. $121.50
uestion 36 (1 point) The accompanying table represents the quantity produced, the total revenue, and the...
uestion 36 (1 point) The accompanying table represents the quantity produced, the total revenue, and the total cost of a firm operating in a perfectly competitive market. Refer to this table to answer the following questions. Quantity Total Revenue Total Cost $0 $5 $10 $15 $20 $3 $5 $9 $13 Profits are maximized when producing units). o (zero) 2 3 4
QUESTION 3 Marginal Revenue ($) Marginal Cost (5) Revenue (5) Table: Profit-Maximizing Monopolist Price Quantity Total...
QUESTION 3 Marginal Revenue ($) Marginal Cost (5) Revenue (5) Table: Profit-Maximizing Monopolist Price Quantity Total Average ($) (Units) Cost ($) Cost ($) 11 6 17 10 7 19 9 8 21 8 9 23 17 10 25 Reference: Ref 13-2 (Table: Profit-Maximizing Monopolist) Refer to the table. The profit-maximizing quantity for this monopolist is units O A7 OB.9 OC. 10 D.8
3. Profit maximization using total cost and total revenue curves
3. Profit maximization using total cost and total revenue curvesSuppose Edison runs a small business that manufactures frying pans. Assume that the market for frying pans is a competitive market, and the market price is $20 per frying pan.The following graph shows Edison's total cost curve.Use the blue points (circle symbol) to plot total revenue and the green points (triangle symbol) to plot profit for frying pans quantities zero through seven (inclusive) that Edison produces.Calculate Edison's marginal revenue and marginal...
Total Revenue Marginal Revenue 1) For the following firm in a competitive market, COSTS REVENUES Quantity...
Total Revenue Marginal Revenue 1) For the following firm in a competitive market, COSTS REVENUES Quantity Total Marginal Quantity Produced Cost Cost Demanded Price SO $80 $50 $80 $102 $80 $157 $80 $217 SSO $285 $80 $365 $80 $462 $80 8 $582 IS $80 a) Fill the column for marginal cost, total revenue and marginal revenue. b) What is interesting about the numbers you find for marginal revenue. c) Based on profit maximization rule that you learned in Chapter 14...
QUESTION 1 Marginal Revenue ($) Marginal Cost ($) Revenue ($) Table: Profit-Maximizing Monopolist Price Quantity Total...
QUESTION 1 Marginal Revenue ($) Marginal Cost ($) Revenue ($) Table: Profit-Maximizing Monopolist Price Quantity Total Average ($) (Units) Cost ($) Cost ($) 11 17 10 19 9 8 21 8 9 23 7 10 25 7 Reference: Ref 13-2 to the table. When this monopolist sells 8 units, its average cost and marginal cost levels are: (Table: Profit-Maximizing Monopolist) A. $2.56 and $2 respectively. B. $2.63 and $2 respectively. C. $2.56 and 54 respectively. OD. $2.63 and 54 respectively.
Table 9-1 Quantity Total Revenue Total Cost 90 8 95 93 10 105 114 122 129...
Table 9-1 Quantity Total Revenue Total Cost 90 8 95 93 10 105 114 122 129 98 105 114 17. Refer to Table 9-1. Marginal revenue at the profit-maximizing level of output is equal to A. $5. B. $7. C. $8. D. $9. E $10.
This Question: 1 pt 434 of 45 (20 complete) This Test: 45 pts possible Marginal Total...
This Question: 1 pt 434 of 45 (20 complete) This Test: 45 pts possible Marginal Total Marginal Quantity Sold Price Total Revenue RevensCost Profit $10 52 $2 16 21 24 25 20 26 The table lists estimated revenues and costs (per week) for plastic vals (100 vials per box) for the Victona Biological Supplies Company Victoria sells plastic vials to universities and private research laboratories At Victoria's proft-maximizing output, 0 A, total revenue equals $25 and total cost equa s...
Table 13-11 Measures of Cost for Very Brady Poster Factory Quantity Variable Total Fixed Costs 10 f Posters Costs Costs 13 $16 10 25 $21 Refer to Table 13-11. The marginal cost of producing the 6th poster is O a. $1.00. b. $3.50 О С. $5.00. O d. $6.00.
ttempts: ampts: 0 Keep the Highest: 0/3 3. Profit maximization using total cost and total revenue curves Suppose Sean runs a small business that manufactures shirts. Assume that the market for shirts is a competitive market, and the market price is $20 per shirt. The following graph shows Sean's total cost curve. Use the blue points (circle symbol) to plot total revenue and the green points (triangle symbol) to plot profit for shirts quantities zero through seven (inclusive) that Sean...
uestion 36 (1 point) The accompanying table represents the quantity produced, the total revenue, and the total cost of a firm operating in a perfectly competitive market. Refer to this table to answer the following questions. Quantity Total Revenue Total Cost $0 $5 $10 $15 $20 $3 $5 $9 $13 Profits are maximized when producing units). o (zero) 2 3 4
QUESTION 3 Marginal Revenue ($) Marginal Cost (5) Revenue (5) Table: Profit-Maximizing Monopolist Price Quantity Total Average ($) (Units) Cost ($) Cost ($) 11 6 17 10 7 19 9 8 21 8 9 23 17 10 25 Reference: Ref 13-2 (Table: Profit-Maximizing Monopolist) Refer to the table. The profit-maximizing quantity for this monopolist is units O A7 OB.9 OC. 10 D.8
3. Profit maximization using total cost and total revenue curvesSuppose Edison runs a small business that manufactures frying pans. Assume that the market for frying pans is a competitive market, and the market price is $20 per frying pan.The following graph shows Edison's total cost curve.Use the blue points (circle symbol) to plot total revenue and the green points (triangle symbol) to plot profit for frying pans quantities zero through seven (inclusive) that Edison produces.Calculate Edison's marginal revenue and marginal...
Total Revenue Marginal Revenue 1) For the following firm in a competitive market, COSTS REVENUES Quantity Total Marginal Quantity Produced Cost Cost Demanded Price SO $80 $50 $80 $102 $80 $157 $80 $217 SSO $285 $80 $365 $80 $462 $80 8 $582 IS $80 a) Fill the column for marginal cost, total revenue and marginal revenue. b) What is interesting about the numbers you find for marginal revenue. c) Based on profit maximization rule that you learned in Chapter 14...
QUESTION 1 Marginal Revenue ($) Marginal Cost ($) Revenue ($) Table: Profit-Maximizing Monopolist Price Quantity Total Average ($) (Units) Cost ($) Cost ($) 11 17 10 19 9 8 21 8 9 23 7 10 25 7 Reference: Ref 13-2 to the table. When this monopolist sells 8 units, its average cost and marginal cost levels are: (Table: Profit-Maximizing Monopolist) A. $2.56 and $2 respectively. B. $2.63 and $2 respectively. C. $2.56 and 54 respectively. OD. $2.63 and 54 respectively.
Table 9-1 Quantity Total Revenue Total Cost 90 8 95 93 10 105 114 122 129 98 105 114 17. Refer to Table 9-1. Marginal revenue at the profit-maximizing level of output is equal to A. $5. B. $7. C. $8. D. $9. E $10.
This Question: 1 pt 434 of 45 (20 complete) This Test: 45 pts possible Marginal Total Marginal Quantity Sold Price Total Revenue RevensCost Profit $10 52 $2 16 21 24 25 20 26 The table lists estimated revenues and costs (per week) for plastic vals (100 vials per box) for the Victona Biological Supplies Company Victoria sells plastic vials to universities and private research laboratories At Victoria's proft-maximizing output, 0 A, total revenue equals $25 and total cost equa s...
Most questions answered within 3 hours.
-
Based on the range, which of the following sets of scores has
the greatest variability? 3,...
asked 45 minutes ago -
Ripples in a pond travel at a velocity of 3 m/s with one peak
passing a...
asked 35 minutes ago -
A man stands on the roof of a building of height 13.0 mm and
throws a...
asked 41 minutes ago -
The extent to which assets are financed by borrowed funds and
other liabilities is indicated by:...
asked 1 hour ago -
Explain in detail
Germany is the fifth largest economy
explain what goods and services Germany specializes...
asked 1 hour ago -
The density of platinum is 21.45 g/mL. If a cube of platinum
with a mass of...
asked 2 hours ago -
Accounts Receivable
Sales
A/R Posting
Extended Sales Invoice
Packing Slip
Compare invoice to packing slip 2...
asked 2 hours ago -
Michaella, age 23, is a full-time law student and is claimed by
her parents as a...
asked 2 hours ago -
Why are polymers not typically casted into products?
asked 2 hours ago -
When rolling a die 129 times, what is the probability of rolling
a 6 no more...
asked 2 hours ago -
4. A call option currently sells for $7.75. It has a strike
price of $85 and...
asked 2 hours ago -
1.
You need to prepare 10.0 liters of an acid aqueous solution with a
pH of...
asked 2 hours ago