Reference no: EM13818506
You are the manager of a monopoly, and your demand and cost functions are given by P=300-3Q and C(Q)=1500+2Q^2, respectively. MR(Q)=300-6Q and MC(Q)=4Q
a) What level of output should this monopolist produce in the short run?
b) What price should this monopolist charge in the short run?
c) What is the monopolist's total revenue at this level of output?
d) What is the firm's total fixed cost at this level of output?
e) What is the firm's total variable cost at this level of output?
f) What is the firm's total cost at this level of output?
g) Calculate the maximum profits
h) What level of output maximizes revenue?
i) What price should this firm charge to maximize revenue?
j) Calculate the maximum revenue?
|
What is the bertand-nash equilibrium outcome
: Suppose firm 1 and firm 2 each produce the same product and face a market demand curve described by Q= 5000 - 200P. Firm 1 has a unit cost of production c1 equal to 6 whereas firm 2 has a higher unit cost of production c2 equal to 10. what is the Ber..
|
|
Required for site prep and installation labor
: An Industrial machine was purchased for $500,000 and and additional $50,000 was required for site prep and installation labor. The freight for the delivery was $10,000. The company received a trade in allowance of $75,000 on an old machine which had ..
|
|
What is the marginal opportunity cost of producing
: Use the above graph to construct a production possbililites curve placing corn on vertical axis and paper on the horizontal axis. What is the marginal opportunity cost of producing the first unit of paper? The marginal opportunity cost of producing t..
|
|
Price-discriminating monopolist should divide sales
: In the long run, the greater burden of a specific tax will usually be absorbed by. A monopolist with multiple plants should allocate total production among plants so that. A price-discriminating monopolist should divide sales among markets so that
|
|
What level of output maximizes revenue
: You are the manager of a monopoly, and your demand and cost functions are given by P=300-3Q and C(Q)=1500+2Q^2, respectively. MR(Q)=300-6Q and MC(Q)=4Q. What level of output should this monopolist produce in the short run? What price should this mono..
|
|
How does economic cost work
: How does economic cost work? I know that economic cost: cost of resources used to produce a good, this includes opportunity cost. I don't understand how opportunity cost is included in that though, can someone give me an example?
|
|
Total opportunity cost of producing second unit of clothing
: What is the marginal opportunity cost of producing the second unit of clothing? What is the total opportunity cost of producing the second unit of clothing? What is the marginal opportunity cost of producing the third unit of clothing? What is the to..
|
|
Rest of the amount was financed
: As soon as she graduated with an engineering degree and started working, Jamie bought a car for $40,000. A down payment of $10,000 was paid by her dad as graduation gift. The rest of the amount was financed with Generous Motors at 3% nominal interest..
|
|
How to determine the individual variables
: How do I determine the values for P,D,Q for an ARIMA model? I have already done the differencing; I am having trouble understanding how to determine the individual variables.
|