Given the Demand Function Q = 40,000 – 5P. a) Determine the MR function. b) At...

Given the Demand Function Q = 40,000 – 5P.

a) Determine the MR function.

b) At what level of output is TR maximized?

Expert Solution

Rahul Sunny answered 2 years ago

Let the demand function for a product be Q = 50 − 5P. The inverse demand...

Let the demand function for a product be Q = 50 − 5P. The inverse demand function of this demand function is: 1) P = 10 + 0.2Q 2) P = 50 − 0.2Q 3) P = 10 − 0.2Q 4) Q = 25 + P Please give the # of the answer.

Suppose the demand equation facing a firm is Q = 1000 – 5P, MR = 200...

Suppose the demand equation facing a firm is Q = 1000 – 5P, MR = 200 – 0.4 Q, and MC = $20. Compute the maximum profit the firm can earn. Suppose the firm is considering a quantity discount. It offers the first 400 units at a price of $120, and further units at a price of $80. How many units will the consumer buy in total? Compute the profit if the quantity discount is implemented. If the firm implemented...

Suppose the demand equation facing a firm is Q = 1000 – 5P, MR = 200...

Suppose the demand equation facing a firm is Q = 1000 – 5P, MR = 200 – 0.4 Q, and MC = $20. Compute the maximum profit the firm can earn. Suppose the firm is considering a quantity discount. It offers the first 400 units at a price of $120, and further units at a price of $80. How many units will the consumer buy in total? Compute the profit if the quantity discount is implemented. If the firm implemented...

Suppose the market demand for broccoli is given by Demand: Q = 1000 – 5P Where...

Suppose the market demand for broccoli is given by Demand: Q = 1000 – 5P Where Q is quantity measured in 100s of bushels and P is price per hundred bushels. The market supply is given by Supply: Q = 4P – 80 What is the equilibrium price and quantity? How much is spent on broccoli? What is consumer and producer surplus? Describe the impact of a $150 per hundred bushel price floor on broccoli. (How many bushels would be...

Assume that the market demand function is: Q(D) = 2000 - 5P And the market supply...

Assume that the market demand function is: Q(D) = 2000 - 5P And the market supply function is: Q(S) = 100 + 5P Assume that the government passes legislation that sets the maximum price to $100 a unit. Which of the following statements are correct (multiple statements may be correct)? 1.) At a legally mandated price of $100 a unit, quantity demanded is equal to 1050 and quantity supplied is equal to 1050, therefore the legally mandated price has no...

Suppose that the demand for broccoli is given by: Q=1000-5P where Q is quantity per year...

Suppose that the demand for broccoli is given by: Q=1000-5P where Q is quantity per year measured in hundreds of bushels and P is the price in dollars per hundred bushels. The long-run supply curve for broccoli is given by: Q=4P=80 A. Show that the equilibrium quantity here is Q= 400. At this output, what is the equilibrium price? How much in total is spent on broccoli? What is consumer surplus at this equilibrium? What is producer surplus at this...

The demand and supply function are given by 2P + 3QD = 66 5P – 2QS...

The demand and supply function are given by 2P + 3QD = 66 5P – 2QS = 13 Find the equilibrium price and quantity using inverse matrix method.

Suppose that the market demand is given by Q(p)=200-5p. Let p(q) be the maximal price at...

Suppose that the market demand is given by Q(p)=200-5p. Let p(q) be the maximal price at which the agents would buy q units, i.e., the inverse demand function. Then? a. p(q)=40-5q b. p(q)=40-0.2q c. p(q)=40-0.4q d. p(q)=200-10q e. p(q)=200-5q

given the demand function, Q=20-2p, find the price range for which a) demand is elastic b)...

given the demand function, Q=20-2p, find the price range for which a) demand is elastic b) demand is inelastic c) demand is unit elastic d) if the firm increases the price to £7, is the total revenue increasing or reducing?

2. A markets demand function is given by D(p) = 40 -.5P, and the market supply...

2. A markets demand function is given by D(p) = 40 -.5P, and the market supply function is given by S(P) = (1/3)P - 10. a. Draw the demand and supply curves, and calculate and label the market price and quantity on the graph. b. Calculate and label the consumer surplus and the producer surplus. c. If the government imposes a $10 per unit tax on producers, draw the old and new demand and supply curves. d. Calculate the new...

Question

Given the Demand Function Q = 40,000 – 5P. a) Determine the MR function. b) At...

Solutions

Expert Solution

Related Solutions

Let the demand function for a product be Q = 50 − 5P. The inverse demand...

Suppose the demand equation facing a firm is Q = 1000 – 5P, MR = 200...

Suppose the demand equation facing a firm is Q = 1000 – 5P, MR = 200...

Suppose the market demand for broccoli is given by Demand: Q = 1000 – 5P Where...

Assume that the market demand function is: Q(D) = 2000 - 5P And the market supply...

Suppose that the demand for broccoli is given by: Q=1000-5P where Q is quantity per year...

The demand and supply function are given by 2P + 3QD = 66 5P – 2QS...

Suppose that the market demand is given by Q(p)=200-5p. Let p(q) be the maximal price at...

given the demand function, Q=20-2p, find the price range for which a) demand is elastic b)...

2. A markets demand function is given by D(p) = 40 -.5P, and the market supply...