Question
In: Math
Marginal Revenue The management of Ditton Industries has determined that the daily marginal revenue function associated...
Marginal Revenue
The management of Ditton Industries has determined that the daily marginal revenue function associated with selling x units of their deluxe toaster ovens is given by the following, where R'(x) is measured in dollars/unit.
R'(x) = −0.1x + 40
(a) Find the daily total revenue realized from the sale of 230 units of the toaster oven.
(b) Find the additional revenue realized when the production (and sales) level is increased from 230 to 330 units.
Solutions
Expert Solution
a) The daily total revenue realized from the sale of 230 units of the toaster oven is $6555.
B) The additional revenue realized when the production (and sales) level is increased from 230 to 330 units is $1200. ?
milcah answered 2 years agoRelated Solutions
a. The market price is determined by: multiple choice 1 marginal revenue and marginal cost. market...
a. The market price is determined by:
multiple choice 1
marginal revenue and marginal cost.
market demand and market supply.
marginal revenue and average total cost
b. To determine the firm's profit-maximizing output, the
firm will set its marginal revenue equal to:
multiple choice 2
marginal cost.
average variable cost.
average total cost.
market price.
c. A firm is making an economic profit if, at the
profit-maximizing output, the market price is:
multiple choice 3
less than average total cost....
What is the marginal revenue (MR) and marginal cost (MC) as a function of Q? At what quantity is
The Company X has a monopoly on the beer market. Market
demand is given by ?? = 200 - 4? and the company's short-term cost
as a function of ? is given by ? (?) = ?2 + 40What is the marginal revenue (MR) and marginal cost (MC) as a
function of Q? At what quantity is ?? = ???
Suppose that the inverse demand function, marginal revenue, marginal cost and total cost for a gizmo...
Suppose that the inverse demand function, marginal revenue,
marginal cost and total cost for a gizmo product produced by a
monopolist are as follows:
P = 100 - 2Q
MR = 100 - 4Q
MC = 2
TC = 10 + 2Q
a. Find the monopolist's profit-maximizing output and price.
b. calculate the monopolist's profit/losses, if any.
c. What is the Lerner Index for this industry.
suppose that the inverse demand function, marginal revenue, marginal cost and total cost for a gizmo...
suppose that the inverse demand function, marginal revenue,
marginal cost and total cost for a gizmo product produced by a
monopolist are as follows
p=100 -2Q
MR= 100-4Q
MC=2
TC=10+2Q
a. Find the monopolist's profit maximizing output and price.
b. Calculate the monopolist's profit/loss ,if any
c. What is the Lerner Index for this industry
marginal revenue equals marginal cost to maximize total revenue
marginal revenue equals marginal cost to maximize total
revenue
1: Marginal revenue product equals a. marginal revenue multiplied by marginal product b. marginal product multiplied...
1:
Marginal revenue product equals
a.
marginal revenue multiplied by marginal product
b.
marginal product multiplied by total revenue
c.
total revenue multiplied by total product
d.
marginal revenue multiplied by total product
2:
The long-run is a period of time
a.
during which at least one input is variable
b.
during which at least one input is fixed
c.
sufficient to vary all inputs in the production process
d.
greater than one year
3:
Marginal cost equals
a.
average...
Explain revenue, marginal revenue, and marginal cost. Provide some examples.
Explain revenue, marginal revenue, and marginal cost. Provide
some examples.
What is marginal revenue? What is marginal cost? Why is a monopolist's marginal revenue less than...
What is marginal revenue?
What is marginal cost?
Why is a monopolist's marginal revenue less than the price it
charges for its product? d) Explain why marginal revenue and
marginal cost are important determinants of a monopolist's profit
maximizing price and output. As part of your answer, explain the
process in a monopolistic market at an output below the profit
maximizing output, and at the output above, and why the profit
maximizing output is eventually chosen.
What is marginal revenue? What is marginal cost? Why is a monopolist's marginal revenue less than...
What is marginal revenue?
What is marginal cost?
Why is a monopolist's marginal revenue less than the price it
charges for its product? d) Explain why marginal revenue and
marginal cost are important determinants of a monopolist's profit
maximizing price and output. As part of your answer, explain the
process in a monopolistic market at an output below the profit
maximizing output, and at the output above, and why the profit
maximizing output is eventually chosen.
For a monopolist: Price is greater than marginal revenue. Marginal revenue equals zero. Marginal cost equals...
For a monopolist:
Price is greater than marginal revenue.
Marginal revenue equals zero.
Marginal cost equals zero.
Average total cost equals marginal cost.
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- MARGI sells different types of wine. Customers place orders to the most popular “Summer Wine” at...
- Java. If possible please put explanations for each line of code. Write a test program that...
- . Use the following information to calculate your company's expected return State Probability Return Boom 20%...
- You are considering the following two projects and can only take one. Your cost of capital...
- C++: Write a program that produces truth tables for the following compound propositions. Write the header...
- 1. What is the historical role of investment bankers ? Has this role changed ? Why...
- How were the original Internet requirements met through its design? What are the two main requirements...
ADVERTISEMENT