What are total revenues and marginal revenues

Assignment Help Business Economics
Reference no: EM1369649

Q. Econ TotsPoses, Inc., a profit-maximizing business, is only photography business in town that specializes in portraits of small children. George, who owns and runs Tots Poses, expects to encounter an average of eight customers per day, each with a reservation price shown in following table. What are total revenues, average revenues and marginal revenues?

 

 

Reference no: EM1369649

Questions Cloud

Tourism commission and the hospitality industry : Show the role of a convention and visitors' bureau (CVB) and the tourism commissions in the hospitality industry
Find internal rate of return to nearest whole percentage : Find internal rate of return to nearest whole percentage point. Oak Furnishings is considering a project that has an up-front cost.
Explain the sales training program : Why is it important to have a sales training program and what would be included in a sales team training program
Explain what are the results of the actions of the companies : Explain What are the results of the actions of the companies and For instance, financial, public relations, or employee issues?
What are total revenues and marginal revenues : George, who owns and runs Tots Poses, expects to encounter an average of eight customers per day, each with a reservation price shown in following table. What are total revenues, average revenues and marginal revenues
Executives working for chinese boss : What cultural tendencies both Chinese and Western are adversely affecting the expatâ??s working relationship with management in China?
Determine the multiplier effect for open economy : Suppose that you have following open economy where C = 10 + 0.8(Y-T); I = 10; G = 10; T = 10 and imports and exports are given through IM = 0.3Y and X = 0.3Y* respectively
What is value of marginal propensity to consume : What is value of marginal propensity to consume (MPC) in this model Marginal propensity to save (MPS).
Explain how can a governance system interfere : Explain How can a governance system interfere or diminish the ability to align managerial and shareholder strategic outcomes in the short term and in the long term?

Reviews

Write a Review

Business Economics Questions & Answers

  Economics assignment

This document contains various important questions and their appropriate answers in the subject field of Economics.

  Demand and supply curves

Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.

  Long-run perfectly competitive equilibrium for the firm

Evaluate Government intervene and correct this situation?(a) Explain the concept of a concentration ratio. A rise in the price of magarine Explain the impact of external costs and external benefits on resource allocation long-run perfectly c..

  Supply and demand diagrams

Explain each of the following using supply and demand diagrams,  With the use of a graph, explain how these two programs affect cigarette consumption and the price of cigarettes.

  Case study: fisher-price toys

The case study of the Fisher-Price Toys, Inc., a popular case in basic economics and management from the prestigious Harvard Business School.

  Draw the production possibility curve

Draw the production possibility curve and a. Define consumer surplus and producer surplus.

  Tax revenue

The Australian government administers two programs that affect the market for cigarettes

  Maximize total welfare

How many tickets to sell to maximize total welfare.

  Difference between the cv and the ev

The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled

  Depict von neumann-morgenstern utility index u in a diagram

Depict the von Neumann-Morgenstern utility index u in a diagram

  What is the market solution

What is the market solution (market price and quantity) and What is the total surplus of the society under the market solution

  Calculate gross national product and net national product

Calculate gross national product and net national product

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