Marginal revenue and marginal cost

Assignment Help Macroeconomics
Reference no: EM131086721

Hank's Honkytonk is a local bar and nightspot. On weekends, it requires a $5 cover charge to defray the costs of the live musical acts Hank brings in. This has worked wonderfully, as it generates capacity crowds and a long line of people waiting to enter. However, after the cost of the acts, he still loses money on the weekends. What is his marginal revenue and marginal cost of a patron on weekends and how should he attempt to fix his unprofitability problem?

Reference no: EM131086721

Questions Cloud

Find, in scientific notation with appropriate rounding : Suppose your hair grows at the rate of 1/32 inch per day. Find the rate at which it grows in nanometers per second. Since the distance between atoms in a molecule is on the order of 0.1 nm, your answer suggests how rapidly atoms are assembled in t..
Profit maximizing level of output : How much should thismonopolist produce in total and how much will each plant be producing at the profit maximizing level of output?
Process of selling businesses or services : What is the process of selling businesses or services operated by the government to individual investors, and then allowing them to compete in the marketplace?
Describe the organization and comment on the hr : Describe the organization and comment on the HR change that the organization should make. Utilize effective diagnostic tools to assess the organizations ability to change. Support assertions with theoretical evidence
Marginal revenue and marginal cost : However, after the cost of the acts, he still loses money on the weekends. What is his marginal revenue and marginal cost of a patron on weekends and how should he attempt to fix his unprofitability problem?
Profit-maximizing output for bartech : Bartech, Inc. is a firm operating in a competitive market. The manager of Bartech forecasts product price to be $28 in 2015. Bartech's average variable cost function is estimated to be
Provide specific examples from the real world : After reading the journal article for this week, identify 2-3 'best practices' discussed by the authors that you feel would have the greatest impact on the improvement of a business process.
Analyze museum jewelry case study business operations : Museum Jewelry Case Study-You agreed to analyze her business operations and to advise her how to reach her modest goal of earning $25,000 per year, after taxes
What is the insurers liability for the loss : What is the insurer's liability for the loss? If the building carried a $500,000 property insurance policy whilst incurring the loss, how much would the building collect?

Reviews

Write a Review

 

Macroeconomics Questions & Answers

  Elucidate your rationale for making such decisions

Have you been personally involved in the making of a decision for a business concerning what, how, or for whom? If yes, Elucidate your rationale for making such decisions.

  Illustrate how you would use the rest of the information

Illustrate how you would use the rest of the information above to better assess the impact of the influx of immigrants.

  Calculate steady state capital

Changes in government spending and interest rates

  Policies of the federal government

Federal government employs a budget plan over several fiscal years that results in significant increases in the national debt, with no relief or plans to deal with the problem.

  Suppose that the interest rates in the us and germany are

suppose that the interest rates in the u.s. and germany are equal to 5 that the forward one year value of the euro is

  What could the magazine do in order to maximize profit

A news magazine offers students a discount on the regular subscription rate. The total number of subscriptions is optimal, and, at the current prices, the marginal revenue from the last subscription sold to a student is $6, while the marginal reve..

  Solving the utility function

Tom have only $60, and he want to spend it all on clothing (X) and food (Y), Price of clothing is $4. Find out the optimal values of both goods (Y*,X*) and Utility?

  What are the covered and uncovered interest parity

Explain briefly what the covered interest parity (CIP) and uncovered interest parity (UIP) arbitrage conditions are and how they operate as equilibrium conditions for the spot and futures foreign exchange (FX) markets.

  Companies longevity

The manufacturer of these products has been in business for over 350 years.Your task is to find two more businesses which have also been around for at least over one hundred years.

  Show what happens in the market for tv screens

Consider the markets for DVD movies, TV screens, and tickets atmovie theaters. For each pair, identify whether they arecomplements or substitutes: 1) DVDs and TV Screens - compliments;2) DVD and movie tickets, substitutes

  Illustrate what are the mistakes made

Illustrate what are the mistakes made by investors in dealing with foreign exchange investments? Provide examples.

  Objective questions - macroeconomics

If the Fed printed too much money, money's relative price would and the money price of goods would, If workers begin to expect more inflation in the future, then we would expect that:

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd