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





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
These data are shown in Table 8.9 . Use the data in the file to answer the following questions: Determine the average elevation of the water level for each year and for the
I need to determine if a movie rented from Redbox is or is not in the same market as a movie seen at a Movie Theater. I know both items are related because they deal with the
Is it mercantilist thinking to want to have a positive trade balance? How can countries such as the United States have steady economic growth and a high standard of living wit
Chamber of Commerce, and your colleague has written a position paper and asked you to proof read it. In that report, she concludes; "in 2009, the U.S. exports were $1.571 bi
What recent economic trends or issues are addressed there? Select ONE economic issue from each website listed above. Explain each economic issue in 6 to 10 sentences.
Suppose you have 10 indivduals with vales ($1, $2, $3, $4, $5, $6, $7, $8, $9, $10. . our marginal cost of production is $2.50. What is the profit-maximizing price?
Analyze a minimum of three outside sources from the Internet that are reliable and deal with nonverbal communication that a manager could use in order to improve his or her
A manufacturer of outdoor clothing makes wax jackets and trousers. Each jacket requires 1 hour to manufacture, whereas each pair of trousers takes 40 minutes.