+1-415-670-9189
info@expertsmind.com
Calculate the optimal price
Course:- Microeconomics
Reference No.:- EM13700173





Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Microeconomics

As a manager of a firm you find the marginal cost of the firm to be $10 and the fixed cost $100. For the range of prices that you are planning to charge, own price elasticity of demand is believed to be –1.25. Calculate the optimal (profit maximizing) price that you should charge. Show all calculations.




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Microeconomics) Materials
Presume a proposed public policy could result in three possible outcomes: (1) present value of net benefits of $4,000,000, (2) present value of net benefits of $1,000,000, or
In the old days lighthouses were built along the coast to prevent ships from running aground on rocks in unfamiliar ports. By shining a beam of light over a port and guiding
How the country's policies influence its productivity growth? How the country's financial system is related to key macroeconomic variables? How your organization can reduce th
The problem belongs to Economics, mainly to Micro-economics and it converse about a firm operating monopolistically in a competitive market ends up with super-normal profit
Suppose the level of real aggregate demand for output in a macro economy is a negative function of the expected real interest rate- the nominal interest rate minus the expecte
In 2012, domestic investment in Japan was 21.2 percent of GDP, and Japanese net foreign investment was -2.2 percent of GDP. What percentage of GDP was Japanese national savi
What is the cross-price elasticity of demand for Delta flights with respect to the price of Southwest flights - what is the market level price elasticity of demand for air tra
Do you think that there should be equal opportunity in a just society? What would you mean by this phrase? Do you think that it is a realizable ideal? Describe John Stuart M