The ledger of Novak Corp. on March 31 of the current year includes the selected accounts below before adjusting entries have been prepared.

An analysis of the accounts shows the following.

4. When the ticket price for a concert at the opera house was $50, the average attendance was 4000 people. When the ticket price was raised to $52, the average attendance was 3800 people. a. Assuming the demand function is linear, find the demand function, p. b. Find the number of tickets sold that maximize the revenue. Use the second derivative test to verify it is a maximum. c. Find the price that maximizes the revenue. d. Find the maximum revenue.

5. Find the derivative of ? a. ? = (5? + 3) 2(2? + 1) 4 using the product rule. Factor final answer as much as possible. b. ? = 3? 2−5?+2 4?+1 using the quotient rule. Clean up the numerator but do not factor it.

This exercise deals with the case where price is not a constant but related to quantity demanded. The demand (price) function is P = 50 − 2.5Q, where Q is the quantity demanded. The revenue function is

TR = QxP =50Q -2.5Q²

and the total cost function is

TC = 25+25Q.

Using Excel, develop a table showing columns for Q, P, TR, TC, and Profit (TR-TC). Graph the total cost and total revenue functions at the values of Q: 0, 1, 2, 3, 4, 5, 6, 7, 8, and 9. Indicate approximately on the graph the break-even output levels where total cost equals total revenue. Distinguish between these two output levels.

If the price was slightly less than average total cost, but still greater than average variable cost, then the profit-maximizing, monopolistically competitive firm would

Answer choices:

produce an output amount that corresponded to the place where marginal cost equals marginal revenue and break even.

produce an output amount where marginal cost equals marginal revenue and make a small profit.

continue to produce an output amount that corresponded to the place where marginal cost equals marginal revenue, but make a small loss.

produce an output amount that corresponded to the place where average total cost equals average variable cost and incur a small loss.

shut down to minimize losses in the short run.

intermediate microeconomic theory courses, with topics production, cost, and supply

The book used in this course is Intermediate Microeconomics and Its Application, by walter nicholson

The question is :

1. It is known that the total revenue function is ?(?) = 45,75? − ?²
short-run cost function ??? (?) = ?³ - 12? ² + 60? + 40

A. Determine the function: Average cost, marginal cost, Fixed cost, variable cost Average revenue, marginal revenue and determine the demand function and the supply function (q) and draw it in a graph by showing the price and quantity balance

B. Calculate how many q in order to obtain maximum profit, the total income at the maximum profit level, the total cost at the maximum profit level and the maximum profit.

A monopolist providing beryllium to the oil and gas sector has the following demand function Qd = 60 – P. The price and quantity demand is given in the table 3 below:

Table 3

a) From the table above, calculate the Total Revenue and Marginal revenue values.

b)         Plot the demand and marginal revenue schedules.

c)         Using the price elasticity method, calculate MR when

i)          P = $50            ii) P = $35            iii) P = 20

Staub Company began operations when it acquired $135,000 cash from the issue of common stock on January 1, 2013.

The cash acquired was immediately used to purchase equipment for $135,000

that had a $27,000 salvage value and an expected useful life of four years. The equipment was
used to produce the following revenue stream (assume all revenue transactions are for cash). At the

beginning of the fifth year, the equipment was sold for $13,500 cash.
Staub Company uses straight-line depreciation. Asssume depreciation is the only expense to record.

2013 2014 2015 2016 2017 Revenue $ 25,200 $ 27,600 $ 28,800 $ 23,400 0

REQUIRED

Prepare income statements, balance sheets, and statements of cash flows for each of the five years.

Sellall Department Stores reported the following amounts in its adjusted trial balance prepared as of its December 31 year-end: Administrative Expenses, $2,200; Cost of Goods Sold, $21,600; Income Tax Expense, $2,980; Interest Expense, $1,500; Interest Revenue, $180; General Expenses, $2,400; Net Sales Revenue, $36,200; and Delivery (freight-out) Expense, $280. Prepare a multistep income statement for distribution to external financial statement users.

I need values for:

Net sales

Cost of Goods Sold

Gross Profit

Operating Expenses

Income from Operations

Interest Expense

Interest Revenue

Income before Income Tax Expense

Income Tax Expense

Net Income

1. Recently the governor of Vermont proposed that cigarette taxes in Vermont should be increased substantially, from 44 cents a pack to 66 cents a pack. He estimates that Vermont can raise $20 million in revenue from this tax hike. He also pointed out that the neighboring state of New Hampshire was considering an increase in cigarette taxes. (6 points)
   
   a. How can it be that an increase in cigarette taxes will increase tax revenue, because, after all, a higher tax will increase cigarette prices and thereby decrease the quantity demanded?
   
   b. If New Hampshire chooses not to increase cigarette taxes, is it likely that Vermont can still raise $20 million in tax revenue? Why or why not? Explain.

Giant Screen TV, Inc., is a Miami-based importer and distributor of 60-inch screen HDTVs for residential and commercial customers. Revenue and cost relations are as follows:

TR = $4,500Q - $0.1Q²

TC = $2,000,000 + $1500Q + $0.5Q²

1. Calculate output, price and profit at the average cost-minimizing activity level.
2. Calculate output, price and profit at the profit-maximizing activity level.
3. Calculate the level of output and price that will maximize sales revenue. What is the profit associated with this activity level?
4. Plot Giant Screen’s demand curve, marginal revenue curve, marginal cost curve, and average cost curve on the same graph (quantity on the horizontal axis). Show your graphical solutions to part A, B, and C on this graph.