Four Seasons Hair Salon is the only women's hair stylist in Lake View. A business consultant...
Four Seasons Hair Salon is the only women's hair stylist in Lake
View. A business consultant has estimated its monthly cost
functions as follows:
TC = 2000 + 100 Q + 0.05 Q 2
MC = 100 + 0.1 Q
The firm is faced with the following demand:
Qd = 1000 - 4 P
e. What price should
it charge if it were to maximize its revenue?
f. At what level of output is the firm's average total cost
minimized? Be sure to show your work.
Homework Answers
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Four Seasons Hair Salon is the only women's hair stylist in Lake
View. A business consultant...
Please answer Letter G only. Price Quantity TR MR MC TC Profit $15,000 0 0 ----...
Please answer Letter G only. Price Quantity TR MR MC TC Profit $15,000 0 0 ---- ---- 20000 -$20,000 14,000 1 14000 14000 $2,000 22000 -8000 13,000 2 26000 12000 1000 $23,000 3000 12,000 3 36000 10000 1000 $24,000 12000 11,000 4 44000 8000 1000 $25,000 19000 10,000 5 50000 6000 $3,000 28000 22000 9,000 6 54000 4000 $5,000 33000 21000 8,000 7 56000 2000 8000 $41,000 15000 7,000 8 56000 0 $12,000 53000 3000 6,000 9 54000 -2000...
Chapter 11 1. You are a self-employed profit-maximization consultant specializing in monopolies. Five single-price, profit-maximizing monopolies...
Chapter 11 1. You are a self-employed profit-maximization consultant specializing in monopolies. Five single-price, profit-maximizing monopolies are currently seeking your advice, and al- though the information they have supplied to you is incomplete, your expert knowledge allows you to go back and make a definite recommendation in each case. Select one of the following recommendations for each firm in the short run: a. Remain at the current output level. b. Increase output. c. Reduce output. d. Shut down. e. Go...
need some help with all of this. ert Format Arrange View Share Window Help HW9monoA (1)...
need some help with all of this.
ert Format Arrange View Share Window Help HW9monoA (1) TT Insert Table Chart Text Shape Media D 126% Zoom + Add Page View Comment Cole 60 On the left is your monopoly. 1)If you handle your customers without any discrimination and maximize your profits, then where MC crosses MR below this will be your of_This Qapplied to the PD (price, demand) curve will result in price of $_which at that quantity is above...
Total Points 100 pts. Il credit will be given only when () your answers are correct...
Total Points 100 pts. Il credit will be given only when () your answers are correct and (a) you explain the steps or reasoning behind your answers. . Due date: Thursday, Dec a7th 2018, in class and in hard copy cost as follow: TC 0.Q2+ Q +10 and MC -o.2 Q +1. It faces the demand curve Q 35- 5P. (35 points) a) What are the price, output, and profit for this monopolist? b) Carefully draw the diagram that illustrates...
Chapter 11 1. You are a self-employed profit-maximization consultant specializing in monopolies. Five single-price, profit-maximizing monopolies are currently seeking your advice, and al- though the information they have supplied to you is incomplete, your expert knowledge allows you to go back and make a definite recommendation in each case. Select one of the following recommendations for each firm in the short run: a. Remain at the current output level. b. Increase output. c. Reduce output. d. Shut down. e. Go...
need some help with all of this.
ert Format Arrange View Share Window Help HW9monoA (1) TT Insert Table Chart Text Shape Media D 126% Zoom + Add Page View Comment Cole 60 On the left is your monopoly. 1)If you handle your customers without any discrimination and maximize your profits, then where MC crosses MR below this will be your of_This Qapplied to the PD (price, demand) curve will result in price of $_which at that quantity is above...
Total Points 100 pts. Il credit will be given only when () your answers are correct and (a) you explain the steps or reasoning behind your answers. . Due date: Thursday, Dec a7th 2018, in class and in hard copy cost as follow: TC 0.Q2+ Q +10 and MC -o.2 Q +1. It faces the demand curve Q 35- 5P. (35 points) a) What are the price, output, and profit for this monopolist? b) Carefully draw the diagram that illustrates...
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