Homework Answers
Use the graph to answer (A) through (F) 80 70 60 50 40 30 20 10...
Use the graph to answer (A) through (F)
80 70 60 50 40 30 20 10 State the equation for the demand curve (inverse demand function) shown in the graph above using the format P-a-bQ a. b. State the equation for the demand function implied in the graph ysing the format Q-c-dP. c. Find the equation for Total Revenue, where TR is a function of output (Q) d. Find the equation for Marginal Revenue, where MR is a function of...
1. Use the graph below to answer the questions: 80 70 60 50 40 30 20...
1. Use the graph below to answer the questions: 80 70 60 50 40 30 20 10 ㄒ ㄧ -- 4 State the equation for the demand curve (inverse demand function) shown in the graph above using the format Px- a - bQx: a. b. State the equation for the demand function implied in the graph using the format Qx-c - dPx c. Find the equation for Total Revenue, where TR is a function of output (Qx) d. Find the...
1. Use the graph below to answer the questions: 80 70 60 50 40 30 20...
1. Use the graph below to answer the questions: 80 70 60 50 40 30 20 10 State the equation for the demand curve (inverse demand function) shown in the graph above using the format P a-bQi a. b. State the equation for the demand function implied in the graph using the format Q c-dP Find the equation for Total Revenue, where TR is a function of output (Q): c. d. Find the equation for Marginal Revenue, where MR is...
Please show work! Homework Assignment 1 You must show all your work to earn points ECON...
Please show work!
Homework Assignment 1 You must show all your work to earn points ECON 3125 SP19 Name: 1. Use the graph below to answer the questions: 80 70 50 40 30 20 10 State the equation for the demand curve (inverse demand function) shown in the graph above using the format P.-a-bQ a. b. State the equation for the demand function implied in the graph using the format Q.-c-dP c. Find the equation for Total Revenue, where TR...
1. A monopoly is facing an inverse demand curve that is p=200-5q. There is no fixed cost and the marginal cost of produc...
1. A monopoly is facing an inverse demand curve that is
p=200-5q. There is no fixed cost and the marginal cost of
production is given and it is equal to 50.
Find the total revenue function.
Find marginal revenue (MR).
Draw a graph showing inverse demand, MR, and marginal cost
(MC).
Find the quantity (q) that maximizes the profit.
Find price (p) that maximizes the profit.
Find total cost (TC), total revenue (TR), and profit made by
this firm.
Find...
Question 3-4 SESSION 13 The marginal revenue is the rate of change in total revenue per...
Question 3-4
SESSION 13 The marginal revenue is the rate of change in total revenue per unit increase in output, Q The marginal cost is the rate of change in total cost per unit increase in output, Q AR is defined as average revenue per unit for the first Q su ccessive units sold. AR is determined by dividing total reven ue by the quantity sold, Q The AR function is equal to price, P. where Pis given by the...
Please answer parts F, G, H, I. Thank you in advance MC=5 4. (51 points) The...
Please answer parts F, G, H, I.
Thank you in advance
MC=5 4. (51 points) The inverse demand function a monopoly faces is P = 100 – Q. The firm's cost curve is TC(Q) = 10 +5Q (a) (3 points) What is the monopolist's marginal revenue curve? TR=(P)(Q) TR=(100-Q)(Q) MR=100-2Q (b) (3 points) What is the monopolist’s marginal cost curve? (c) (3 points) What level of output maximizes the monopolist's profits? MR=MC -> 100-2Q=5 –> Q=47.5 Units (d) (4 points)...
please answer all of the following questions since theyre all related (1)A firm in a perfectly...
please answer all of the following questions since theyre all
related
(1)A firm in a perfectly competitive market sells all its product (Q) at a constant price (P) of $60. Suppose the total cost function (TC) for this firm is described by the following equation: 2 3 TC(Q) = 128 +69Q - 140 + Q (a)Form the profit function and determine the output that maximizes the firm's profit. Evaluate the second order condition to assure that profit is maximized at...
please answer all of the following questions since theyre all related (1)A firm in a perfectly...
please answer all of the following questions since theyre all
related
(1)A firm in a perfectly competitive market sells all its product (Q) at a constant price (P) of $60. Suppose the total cost function (TC) for this firm is described by the following equation: 2 3 TC(Q) = 128 +69Q - 140 + Q (a)Form the profit function and determine the output that maximizes the firm's profit. Evaluate the second order condition to assure that profit is maximized at...
the firm faces a constant price (P) of $60 A firm in a perfectly competitive market...
the
firm faces a constant price (P) of $60
A firm in a perfectly competitive market sells all its product (Q) at a constant price (P) of $60. Suppose the total cost function (TC) for this firm is described by the following equation: 2 3 TC(Q) = 128 + 69Q - 140 + Q (a)Form the profit function and determine the output that maximizes the firm's profit. Evaluate the second order condition to assure that profit is maximized at this...
Use the graph to answer (A) through (F)
80 70 60 50 40 30 20 10 State the equation for the demand curve (inverse demand function) shown in the graph above using the format P-a-bQ a. b. State the equation for the demand function implied in the graph ysing the format Q-c-dP. c. Find the equation for Total Revenue, where TR is a function of output (Q) d. Find the equation for Marginal Revenue, where MR is a function of...
1. Use the graph below to answer the questions: 80 70 60 50 40 30 20 10 ㄒ ㄧ -- 4 State the equation for the demand curve (inverse demand function) shown in the graph above using the format Px- a - bQx: a. b. State the equation for the demand function implied in the graph using the format Qx-c - dPx c. Find the equation for Total Revenue, where TR is a function of output (Qx) d. Find the...
1. Use the graph below to answer the questions: 80 70 60 50 40 30 20 10 State the equation for the demand curve (inverse demand function) shown in the graph above using the format P a-bQi a. b. State the equation for the demand function implied in the graph using the format Q c-dP Find the equation for Total Revenue, where TR is a function of output (Q): c. d. Find the equation for Marginal Revenue, where MR is...
Please show work!
Homework Assignment 1 You must show all your work to earn points ECON 3125 SP19 Name: 1. Use the graph below to answer the questions: 80 70 50 40 30 20 10 State the equation for the demand curve (inverse demand function) shown in the graph above using the format P.-a-bQ a. b. State the equation for the demand function implied in the graph using the format Q.-c-dP c. Find the equation for Total Revenue, where TR...
1. A monopoly is facing an inverse demand curve that is
p=200-5q. There is no fixed cost and the marginal cost of
production is given and it is equal to 50.
Find the total revenue function.
Find marginal revenue (MR).
Draw a graph showing inverse demand, MR, and marginal cost
(MC).
Find the quantity (q) that maximizes the profit.
Find price (p) that maximizes the profit.
Find total cost (TC), total revenue (TR), and profit made by
this firm.
Find...
Question 3-4
SESSION 13 The marginal revenue is the rate of change in total revenue per unit increase in output, Q The marginal cost is the rate of change in total cost per unit increase in output, Q AR is defined as average revenue per unit for the first Q su ccessive units sold. AR is determined by dividing total reven ue by the quantity sold, Q The AR function is equal to price, P. where Pis given by the...
Please answer parts F, G, H, I.
Thank you in advance
MC=5 4. (51 points) The inverse demand function a monopoly faces is P = 100 – Q. The firm's cost curve is TC(Q) = 10 +5Q (a) (3 points) What is the monopolist's marginal revenue curve? TR=(P)(Q) TR=(100-Q)(Q) MR=100-2Q (b) (3 points) What is the monopolist’s marginal cost curve? (c) (3 points) What level of output maximizes the monopolist's profits? MR=MC -> 100-2Q=5 –> Q=47.5 Units (d) (4 points)...
please answer all of the following questions since theyre all
related
(1)A firm in a perfectly competitive market sells all its product (Q) at a constant price (P) of $60. Suppose the total cost function (TC) for this firm is described by the following equation: 2 3 TC(Q) = 128 +69Q - 140 + Q (a)Form the profit function and determine the output that maximizes the firm's profit. Evaluate the second order condition to assure that profit is maximized at...
please answer all of the following questions since theyre all
related
(1)A firm in a perfectly competitive market sells all its product (Q) at a constant price (P) of $60. Suppose the total cost function (TC) for this firm is described by the following equation: 2 3 TC(Q) = 128 +69Q - 140 + Q (a)Form the profit function and determine the output that maximizes the firm's profit. Evaluate the second order condition to assure that profit is maximized at...
the
firm faces a constant price (P) of $60
A firm in a perfectly competitive market sells all its product (Q) at a constant price (P) of $60. Suppose the total cost function (TC) for this firm is described by the following equation: 2 3 TC(Q) = 128 + 69Q - 140 + Q (a)Form the profit function and determine the output that maximizes the firm's profit. Evaluate the second order condition to assure that profit is maximized at this...
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