dr The marginal revenue is 2800 – 39q? - 79. The demand when q = 6...
If the revenue R and demand Q are related by R = Q(50 – 2Q) find the marginal revenue function. What is the marginal revenue when Q = 10? (Answer. R’ = 50 – 4Q, so when Q = 10, marginal revenue is 10.)
Scenario: Suppose that the demand is given by: P = 100 – Q Marginal Revenue is MR = 100 – 2Q and Total Cost function is : TC(Q) = 20Q Assume the firm is a price-maker (monopolist). What is the maximum profit?
4. (6 points) Suppose the Demand for baseballs is given by Q = 120 – 4P. a) What is the price elasticity of demand when P= 10? b) At what price will Total Revenue be maximized? c) What is the firm's Marginal Revenue when the price is $12?
If demand for the book is Q = 1000-300p, the marginal revenue function is given by a. 300 b. 1,000 – 600 c. 3.33 – Q/150 d. 3.33Q – Q2/ 300 e. -1/300 PLEASE SHOW WORK!
The demand function for watches is: Q(p)=160-4p. Calculate the marginal revenue at output level (q) equal to 20.
Use the following demand schedule to determine total revenue and marginal revenue for each possible level of sales. Instructions: Enter your answers as whole numbers. Product Price Quantity Demanded Total Revenue Marginal Revenue NNNNNN a. What can you conclude about the structure of the industry in which this firm is operating? The industry is purely monopolistic. The industry is purely oligopolistic. The industry is monopolistically competitive. The industry is purely competitive. b. Graph the total-revenue and marginal-revenue curves for this...
How to compute the profit of each firm? The answer should be 737.50. 10.3 MARGINAL REVENUE, MARGINAL COST, AND PROFIT MAXIMIZATION Profit Example 1: Solve by using the slope of the profit function For P=120: Profit: re(q) = 1207-200-6q2 Find q* such that slope of profit function is zero. 209 (q) Slope of r(q) is dr(q) = 120-129 -200 da dr(Q) - 0 Solve for q* such that da 120 – 12q=0 120=129 q* =10 At q*=10, firm's profit is...
1. Suppose that demand is given by P=100-Q, marginal revenue is MR=100-2Q, and marginal cost (and average cost) is constant at 20. a. What single price will maximize a monopolist's profit? b. What will be the prices and quantity under two-part pricing? It involves a lump sum fee (e.g., membership fee) equal to the consumer surplus at competitive prices and user fees (i.e., unit price) equal to the competitive price. c. Now the monopolist has another group of consumers whose...
if product demand is given by: q(p)= 5000-100 p, what is the marginal revenue function for this product
Suppose the demand for Betta fish is given by Q = 200 - 5P. a) (6 points) What is the price elasticity of demand when P = 20? b) (6 points) What is the firm's marginal revenue when the price is $15? c) (6 points) At what price will total revenue be maximized?