Plot the appropriate short run and revenue curves, Econometrics

Plot the appropriate short run and revenue curves ( you may need more than one diagram, and tables) to determine at which price and output levels "Draw Ltd", would achieve:

  • maximum profit (or minimum loss)
  • break even
  • output maximum
  • total revenue maximum

 

Available Output, Cost and Revenue Data

Econometric evidence on the level of company productivity suggests that the most efficient short run method to produce Q output of pencils is with full time workers L=0.0202 x Q.

The accountant has found that the cost of a worker in the short run is W=21972.133, the rent of the buildings is 245, whilst other capital costs are 128.

Statistical analysis by the sales/marketing team also finds that the inverse demand curve for the firm is given by:  P= 1778.76- 24.705Q,

where Q is the quantity demanded and P is the price of pencils set by the firm. Note for the time period of that analysis all other market conditions were fairly constant.

Posted Date: 3/9/2013 1:03:01 AM | Location : United States







Related Discussions:- Plot the appropriate short run and revenue curves, Assignment Help, Ask Question on Plot the appropriate short run and revenue curves, Get Answer, Expert's Help, Plot the appropriate short run and revenue curves Discussions

Write discussion on Plot the appropriate short run and revenue curves
Your posts are moderated
Related Questions
You have won a contest and are allowed to choose between two prizes. One option is to receive $200 now and another $200 a year from now. The second option is $150 now and $255 a

Hi, I''m a PhD student in empirical finance I’m trying to conduct bivariate nonlinear conintegration tests using threshold Vector Error Correction (TVEC) methodology (Hansen and Se

suppose only one professor teaches economics at your university, would you say that this prof is a monopolist who can exact any price from students in the form of readings assigned

1. Consider a mixture of one mole of Nitroglycerin and one mole of Ammonium Nitrate a. Write the detonation equation for this mixture b. Using class notes, posted articles in

Derive marginal benefit of reducing principal balances

A brief summary of the procedure of maximum likelihood.

Effective Human Resources Management Depends Upon Sound Reward System Essays and Term Papers

Explain the stages and various coordination mechanisms involved in policy processes. Discuss various factors that influenced the agenda setting in policy processes

prove that summation k =0 and summation kxi=1

how to find the relationship for a simple linear model?