Assume that short-run cost and demand data-marginal revenue

Assignment Help Business Economics
Reference no: EM13831086

Assume that the short-run cost and demand data given in the table above confront a monopolistic competitor selling a given product and engaged in a given amount of product promotion. Refer to the above table and information. If the firm sells 3 units of output, marginal revenue will be:

A. -$5

B. $35

C. $135

D. $165

Reference no: EM13831086

Questions Cloud

The more progressive the tax system : The so-called "recognition lag" associated with fiscal policy is a result of how slowly the U.S. Congress moves. The Social Security program is a retirement system where payments to retirees come from their previous contributions. The more progressiv..
Calculate utility of person having cognitive-social problems : Consider a health utility questionnaire with only 3 domains (physical role, social role, and cognitive health), each of which has two levels (no problem and some problems).  Calculate the utility of a person having some cognitive problems and some so..
Explain the pros and cons of the self correcting economy : Rather than the short run effects of decreasing government spending, allow a self correcting economy to bring the model back to equilibrium, the government decides to act to eliminate the output gap through monetary policy. Explain how the government..
Firm that has the long-run cost curves : A firm that has the long-run cost curves shown in the graph above would be able to do or have the following, except:
Assume that short-run cost and demand data-marginal revenue : Assume that the short-run cost and demand data given in the table above confront a monopolistic competitor selling a given product and engaged in a given amount of product promotion. Refer to the above table and information. If the firm sells 3 units..
Maximize profits the firm will set a price : Refer to the above graph of D and MR for a monopolist. We know that to maximize profits the firm will set a price:
Payoff matrix above for a duopoly-international strategy : Answer this question based on the payoff matrix above for a duopoly in which the numbers indicate the profit from following either an international strategy or a national strategy. Refer to the above table. If firm A chooses an international strategy..
Effects of decreasing government spending : Using an aggregate supply/aggregate demand model chart the short run effects of decreasing government spending (assuming you began in a short run and long run equilibrium)
What are the most difficult aspects of the coase theorem : Explain why physician groups and health service workers’ unions prefer stricter licensure requirements rather than cost control efforts from legislators. What are the most difficult aspects of the Coase Theorem in solving a problem like spread of a d..

Reviews

Write a Review

Business Economics Questions & Answers

  Should international transportation costs decrease

For the United States, empirical studies indicate that over the past two decades the cost of international transportation relative to the value of U.S. imports has: Should international transportation costs decrease, the effect on international trade..

  How the united states and the other country differ

how the United States and the other country differ. Which of the two countries has better prospects for the future and why? Provide a reasoned opinion.

  Q1 are recessions a necessary fact of macroeconomic life if

q1. are recessions a necessary fact of macroeconomic life? if not illustrate what would it take to eliminate them? if

  Qthe cost of hiring a new lab technician is 8000 per month

q.the cost of hiring a new lab technician is 8000 per month including fringes the cost of leasing additional testing

  Change in demand or a change in quantity demanded

State whether the following will result in a change in demand or a change in quantity demanded. Explain.

  Reduce the interest on the loan

An engineer borrowed $3000 from the bank, payable in six equal end-of-year payments at 8%. The bank agreed to reduce the interest on the loan if interest rates declined in the United States before the loan was fully repaid.

  Explain how does this recession affect the us major trading

Assume the United States economy is in a deep recession explain how does this recession affect the US major trading partners such as China, Canada and Japan.

  Fractional reserve banking system

The banking system is a fractional reserve banking system with a desired reserve deposit ratio. Banking system is a fractional reserve banking system.

  Dealer is advertising a non-negotiable all-inclusive deal

You want to buy a new car and have $5,000 available for a down payment. You can afford a monthly car payment of $400. The maximum length of loan you want to take is 5 years. Your credit rating is not so good and the best car loan you can get is for a..

  Describe the free trade equilibrium

Describe the free trade equilibrium. Then compute and graph the following effects of an import quota that limits imports to 100 bags.

  Q1 illustrate what is the marginal revenue from selling

q1. illustrate what is the marginal revenue from selling another book for the author? explain how does it compare to

  Calculate the consumer surplus the producer surplus

Calculate the consumer surplus, the producer surplus, and the total welfare for the competitive equilibrium determined in part (a) of this question.

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