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The demand function for a firm’s product is Q(P) = 50!P/10. The firm’s cost of production is
C(Q) = Q3!20Q2+125Q. The firm’s problem is to choose the value of Q$0 that maximizes its profit. You may occasionally find an irrational number and in those cases simplify your answer as much as possible.
For this part only, change the demand function by assuming that demand (at any given price) is half of what it was before. In this new situation, calculate the firm’s inverse demand function, profit-maximizing point, and maximized profit.
(l) For this part only, suppose that the problem is to maximize revenue instead of profit. Does this problem satisfy the global SOC? Find all points (if any) that satisfy the FOC. Calculate the revenue-maximizing price and quantity. (Justify your answer carefully.) Calculate the firm’s maximized revenue. How much profit does the firm sacrifice by choosing to maximize revenue instead of profit?
Economic Growth Rate - In your response post, your comment is not to assess another student's work but to bring up additional points or thoughts related to their post.
Illustrate what factors might explain why the $A went so low when the Global financial crisis hit the world economy in late 2008?
Entrepreneurs do all of the following except:
Bright horizons a monopoly firm, offers a selection of light bulbs for sale. The product costs c = $40 to produce. The product may fail with probability 0.2, hence it is fully operative with probability = 0.8. This probability is public information i..
Based on your answer in a and b, how can you reconcile the President's statement with economics? Can you suggest how his statement could be modified to be consistent with teh IS-LM model?
Write an equation for predicting sales if Austen assumes that the percentage change in sales is twice as large as the percentage changes in income and advertising
Suppose that a company invents a better machine for mixing the ingredients to make chocolate candies. What would happen to equilibrium price and quantity in the market for Godiva chocolate? Be able to draw the graph that illustrates your answer.
This statistic elucidates how that government antimonopoly strategy has been applied more harshly to the textile industry than to the automobile business.
If a firm’s short-run average total cost function and its short run variable cost function satisfy: SAC(200, w, r, K) = 16, SAVC(200, w, r, K) = 12, SAVC(400, w, r, K) = 16, at a specific wage w, a specific rental rate r, and specific fixed capital l..
The united states exports a substantial amount of scrap iron and steel to Japan and other countries. Explain Why do some US users of scrap iron and steel support a prohibtion on these exports
Calculate the present worth of a 4.5%, $5,000 bond with interest paid semiannually. The bond matures in 10 years, and the investor wants to make 8% per year compounded quarterly on the investment.
Assume that the wholesale skim milk market is perfectly competitive. Suppose demand is described by P=5.10-0.80Q and supply is described by P=1.90+0.20Q. If there are no price controls, what would be the equilibrium quantity?
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