How do companies find a set of prices that maximize the profits from the total product...
Homework Answers
Companies use different set of strategies or policies to find a price that will maximize profits, since companies do not produce single products but produce a product line then the companies can charge difference prices from different products to maximize the overall profit some strategies used are optional product pricing ie selling optional and related products together, like selling a phone cover with a phone, another strategy is pricing bundles of goods together like in grocery shops we get different bundles of different goods sold by same company. They strategize the prices in order to maximize the profits from the overall set of products.
Add Answer to:
How
do companies find a set of prices that maximize the profits from
the total product...
5. A small community theater is trying to determine a price to maximize profits. They have collected the following data. If they set one price to maximize profit, what should it be and how many c...
5. A small community theater is trying to determine a price to maximize profits. They have collected the following data. If they set one price to maximize profit, what should it be and how many customers would they serve? If the firm wants to further increase their profits through price discrimination, upon what would they split the customers into groups? What are the two prices they would set to maximize their profits? How many customers would fall into each group?...
To maximize profits in a competitive market set price equal to marginal cost. But in a...
To maximize profits in a competitive market set price equal to marginal cost. But in a monopoly, you set marginal revenue equal to marginal cost. Based on the given information, answer the following questions. Total Revenue = 100Q – 10Q² Marginal Revenue = 100 – 20Q Total Cost = 20 + 10Q Marginal Cost = 10 Note: Competitive Market: To maximize profits set Price = Marginal Cost Monopoly Market: To maximize profits set Marginal Revenue = Marginal Cost What...
Companies can typically maximize their profits by operating at the minimum average total cost curves, independent...
Companies can typically maximize their profits by operating at the minimum average total cost curves, independent of the economic environment. Is this statement true or false? Explain.
19. To maximize profits in a competitive market set price equal to marginal cost. But in...
19. To maximize profits in a competitive market set price equal to marginal cost. But in a monopoly, you set marginal eue equal to marginal cost. Based on the given information, answer the following questions. Total Revenue- 100Q-10Q Marginal Revenue = 100-20Q Total Cost 20+10Q Marginal Cost -10 Note: Competitive Market: To maximize profits set Price Marginal Cost Monopoly Market. To maximize profits set Marginal Revenue Marginal Cost a. What price do you charge if you are in a competitive...
how do marketers use each chosen effect to maximize their profits : decoy effect , priming...
how do marketers use each chosen effect to maximize their profits : decoy effect , priming , framing , Reciprocity and selective attention
There are many prices in medicine which are set by insurance companies and or government entities....
There are many prices in medicine which are set by insurance companies and or government entities. The theory is that group prices negotiated on behalf of the general public are fair to the consumer. Do you agree?
How much output should be produced in plant 1 in order to maximize profits? Given the...
How much output should be produced in plant 1 in order to maximize profits? Given the demand for product is P=110-6Q. The marginal costs are MC1=2Q1 and MC2=4Q2
Find the value of Q when Firms A and B Cournot compete to maximize profits (i.e....
Find the value of Q when Firms A and B Cournot compete to
maximize profits (i.e. when they simultaneously determine profit
maximizing output).
Firm A and Firm B compete in the sale of a product with market inverse demand given by P(0) = 260-Q, where Q is market output, and Q = 9A + 96 (9A = Firm A's output, 93 = Firm B's output). Firm A's Total Cost function is given by TCA9A) = 209A and Firm B's is...
To maximize profits, a firm should set its output where its is zero. O marginal cost...
To maximize profits, a firm should set its output where its is zero. O marginal cost O variable cost O marginal profit O marginal revenue
4. Suppose the production function is given by (a) For a given set of prices w and v, find the conditional demands for...
4. Suppose the production function is given by (a) For a given set of prices w and v, find the conditional demands for capital 1 labor. Also compute the cost function and (b) Compute the long run profit maximization quantity and the resulting profits (c) Solve for the unconditional demands for capital and labor (d) Show that the quantity produced and the profits from the unconditional demands are the same as the ones you got in part b
4. Suppose...
5. A small community theater is trying to determine a price to maximize profits. They have collected the following data. If they set one price to maximize profit, what should it be and how many customers would they serve? If the firm wants to further increase their profits through price discrimination, upon what would they split the customers into groups? What are the two prices they would set to maximize their profits? How many customers would fall into each group?...
19. To maximize profits in a competitive market set price equal to marginal cost. But in a monopoly, you set marginal eue equal to marginal cost. Based on the given information, answer the following questions. Total Revenue- 100Q-10Q Marginal Revenue = 100-20Q Total Cost 20+10Q Marginal Cost -10 Note: Competitive Market: To maximize profits set Price Marginal Cost Monopoly Market. To maximize profits set Marginal Revenue Marginal Cost a. What price do you charge if you are in a competitive...
Find the value of Q when Firms A and B Cournot compete to
maximize profits (i.e. when they simultaneously determine profit
maximizing output).
Firm A and Firm B compete in the sale of a product with market inverse demand given by P(0) = 260-Q, where Q is market output, and Q = 9A + 96 (9A = Firm A's output, 93 = Firm B's output). Firm A's Total Cost function is given by TCA9A) = 209A and Firm B's is...
To maximize profits, a firm should set its output where its is zero. O marginal cost O variable cost O marginal profit O marginal revenue
4. Suppose the production function is given by (a) For a given set of prices w and v, find the conditional demands for capital 1 labor. Also compute the cost function and (b) Compute the long run profit maximization quantity and the resulting profits (c) Solve for the unconditional demands for capital and labor (d) Show that the quantity produced and the profits from the unconditional demands are the same as the ones you got in part b
4. Suppose...
Most questions answered within 3 hours.
-
What is the role of burning coal in an electrical power
plant?
The heat is converted...
asked 21 seconds from now -
Caspian Sea Drinks' is financed with 68.00% equity and the
remainder in debt. They have 10.00-year,...
asked 8 seconds from now -
Mooncents Coffee Shop has just opened, and on the first 6 days
of business, the number...
asked 12 minutes ago -
Description: Operating your business with a business mindset is
the key here. You can only wear...
asked 10 minutes ago -
(a) Find ?z such that the proportion of observations that are
less than ?z in a...
asked 18 minutes ago -
Discuss the advantages and disadvantages of a gather society and
an agrarian society in regard to...
asked 40 minutes ago -
What is compliance and how it is related to information
security?
What are the differences between...
asked 40 minutes ago -
Indicate the
amino acid
sequence of the protein encoded by the following mRNA molecule.
Use the...
asked 46 minutes ago -
Weihong Corporation is about to emerge from a Chapter 11
reorganization. Assets of the emerging entity...
asked 45 minutes ago -
Give an example of a successful company in different parts of
the world that have used...
asked 47 minutes ago -
Implement a class CSVReader that reads a CSV file, and provide
methods:
int numbOfRows()
int numberOfFields(int...
asked 46 minutes ago -
Suppose that A and B are mutually exclusive and complementary
events, such that P(A)=0.7 and P(B)=0.3....
asked 1 hour ago