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The demand for the product is p = 70-0.7x where x is the quantity for the item sold a $p dollars per piece. Determine the revenue function and the domain of the function. What price should the company charge to obtain the largest revenue? What is the maximum revenue? Find the marginal revenue function. Find the marginal revenue function evaluated at x = 20. Taking into account storage and shipping, it costs p = C(x) = 100 + 11.25x dollars to sell x of the product. Find the average cost function and the marginal average cost function. Explain the difference between the two. Find the cost, average cost, and marginal average cost for 20 items. Explain the difference in meaning of these values. Find the profit function. Explain how you found the profit function. What price should the company charge to get the largest profit? How did you determine this price? What is the maximum possible profit? How do you know for sure the profit is maximized? By comparing the price you obtained for maximum revenue with the price you obtained for maximum profit, please explain any difference between the two and the reason for the difference. You must show all work using calculus techniques.
Assume that a nation’s marginal propensity to consume is 0.9, and that its potential GDP exceeds its actual real GDP by $5000. By how much should that nations government change taxes in order to completely close that GDP gap?
Explain why excise taxes are more effective at raising tax revenues when applied to products with price inelastic demand versus ones with price elastic demand. Under what conditions would it be possible for tax revenues to decline with higher excise ..
Explain why at first patents might seem such as a deterrent to growth because in effect they restrict the use of new technology
The traditional mortgage amortization schedule specifies a monthly payment that is
Illustrate what does this theory predict about the term structure of interest rates in terms of how the yield of long term bonds are related to yields on a sequence of 1 year bonds.
Watch the video for the week, read the lecture notes carefully before you answer the question. Should a perfectly competitive firm making a loss in the short-run always leave the market? Why? What about in the long-run?
Using existing plant and equipment, Priceless Moments Figurines can be manufactured using plastic, clay, or any combination of these materials. A figurine can be manufactured by F = 2P + 5C, where P is pounds of plastic and C is pounds of clay. Plast..
As marketers increasingly tailor marketing programs to target market segments, some critics have denounced these efforts as exploitive. They see the preponderance of billboards advertising cigarettes and alcohol in low-income urban areas as taking ad..
Juan Garza invested $114,000 10 years ago at 8 percent, compounded quarterly. How much has he accumulated? Use Appendix A for an approximate answer but calculate your final answer using the formula and financial calculator methods.
Draw a Keynesian cross graph and assume that macro economy starts and ends at equilibrium. Label the initial aggregate demand line AD0, Then show what happens in the diagram when a rise in consumer wealth raises C in your diagram. What is the initial..
Census data indicate that, as of 2008, the top fifth of all households receive about ________ times as much income as the bottom fifth
q. there are three major network affiliate television stations in hicksville rbc cbc and mbc. all three stations have
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