marginal revenue equals marginal cost to maximize total revenue

The following graph shows the daily demand curve for bippitybops in Detroit.

Use the green rectangle (triangle symbols) to compute total revenue at various prices along the demand curve.

Note: You will not be graded on any changes made to this graph.

On the following graph, use the green point (triangle symbol) to plot the annual total revenue when the market price is $30, $45, $60, $75, $90, $105, and $120 per bippitybop.

According to the midpoint method, the price elasticity of demand between points A and B is approximately (0,0.54,1.86,14) .

Suppose the price of bippitybops is currently $45 per bippitybop, shown as point B on the initial graph. Because the price elasticity of demand between points A and B is ( elastic, inelastic, unit elastic) , a $15-per-bippitybop increase in price will lead to (a decrease, an increase, no change) in total revenue per day.

In general, in order for a price decrease to cause a decrease in total revenue, demand must be (elastic,inelastic,unit elastic) .

The difference between economic and accounting profit is:

The role of profits in a market economy is to:

If the economic profits of a firm are above normal they are also:

The first derivative of Total Revenue is:

"In the long run, all costs are:"

Total Revenue is maximized where

Profits are maximized when:

A change in the price of a good will cause a change in that good's:

Felicity owns land valued at $2 million. She has located a buyer for her property. Felicity wants to buy an office building for $2.2 million. The owner of the office building has accepted her purchase offer. Felicity proposed to close the sale of her property and the purchase of the office on the same day. She will contribute cash to make up the difference between the sales and purchase prices. The transaction will be at the same title company in the same hour. The buyer’s cash will be wired to the title company and immediately used to buy the office. Does Felicity need to hire a qualified intermediary, and whether you say yes or no, why?

Proteins

1. What is the monomer of a protein?
2. What is one of the most important roles of an enzyme?
3. Describe what happens to protein function when a protein is denatured.
4. Explain how a peptide bond forms between two amino acids.
5. Draw an amino acid.
6. What are the four levels of protein structure? Provide a definition/description of each level.
   1. Explain how the primary structure of a protein is determined.
   2. Name two types of secondary protein structure. Explain the role of hydrogen bonds in maintaining secondary structure.
   3. Explain how weak interactions and disulfide bridges contribute to tertiary protein structure. – R group interactions

A suburban hotel derives its revenue from its hotel and restaurant operations. The owners are interested in the relationship between the number of rooms occupied on a nightly basis and the revenue per day in the restaurant. Below is a sample of 25 days (Monday through Thursday) from last year showing the restaurant income and number of rooms occupied.

Describe the connection between map distances and recombination rates between three X-linked genes.

Suppose that the annual market demand for Bleebs is given by Q=3750-75P The average and marginal costs of producing Bleebs are $10/bleeb.

A) If the firm acts as a single-price monopoly, what are the monopoly quantity, price, and profit?

B) Suppose that there are three hundred identical customers in this market. What is the best two-part tariff that the monopolist can use? If the monopolist implements the two-part tariff, how much profit will it make?

C) It turns out that the monopolist was wrong about the makeup of the customers. At any price, 1/3 of the customers buy twice as much as the other two thirds. If the monopolist implements the two-part tariff in part b, how much profit will it make?

Is there a difference between the means of the total of rooms per hotel in Crete and Southern Aegean Islands? Answer your question by calculating an appropriate, symmetric, 95% confidence interval using a Z statistic and equal standard deviations in the two populations. Explain your findings.

REGION ID

1= Crete
2=Southern Aegean Islands
3=Ionian Islands