Calculate total revenue and marginal revenue

Assignment Help Business Economics
Reference no: EM131426009

Use the following demand schedule for a monopolist to calculate total revenue and marginal revenue. For each price, indicate whether demand is elastic, unit elastic, or inelastic. Using the data from the demand schedule, graph the demand curve, the marginal revenue curve, and the total revenue curve. Identify the elastic, unit elastic, and inelastic segments along the demand curve.

96_Untitled.png

Reference no: EM131426009

Questions Cloud

List the four components of gross domestic product : List the four components of Gross Domestic Product(GDP) and provide an example of each. Explain how each item affects you and the way that you live today should include an introduction, a body with at least two fully developed paragraphs, and a concl..
Divisional costs of capital and investment decisions : (Divisional costs of capital and investment decisions?) Belton Oil and Gas Inc. is a? Houston-based independent oil and gas firm. In the past? Belton's managers have used a single firmwide cost of capital of 10 percent to evaluate new investments. Wh..
Discuss what economic theory predicts will happen : From an economic standpoint, evaluate the effect of a minimum wage on the market for low-wage labor. Include the following: Discuss what economic theory predicts will happen. Draw a supply and demand graph illustrating the effect of a minimum wage.
The monopolist charges the highest possible price : Explain why you agree or disagree with the following statements: “ All monopolies are created by the government.” “ The monopolist charges the highest possible price.” “ The monopolist never takes a loss.”
Calculate total revenue and marginal revenue : Use the following demand schedule for a monopolist to calculate total revenue and marginal revenue. For each price, indicate whether demand is elastic, unit elastic, or inelastic. Using the data from the demand schedule, graph the demand curve, the m..
Estimate and incorporate the uncertainties of inflation : How should a firm estimate and incorporate the uncertainties of inflation/deflation into its overall practices (for example a firm must make long term investment to survive in the long term, so how should it make this decision)?
Maximized his utility subject to his budget constraint : Charlie has a utility function U(A, B) = A + B, the price of apples is $3, and the price of bananas is $2. If Charlie’s income were $120, how many units of bananas would he consume if he chose the bundle that maximized his utility subject to his budg..
Difference between microeconomics and macroeconomics : What is the difference between Microeconomics and Macroeconomics? and what are the similarities? Explain under what conditions it would be rational for a woman who could earn more than her husband in the labor market to specialize in housework. Why n..
The natural rate of unemployment is : If pollution is associated with the production of some good, then. The natural rate of unemployment is:

Reviews

Write a Review

Business Economics Questions & Answers

  Imply for the short-run marginal cost of these firms

Electric utility companies usually operate their most modern and efficient equipment continuously (i.e around the clock) and use their older and less efficient equipment only to meet periods of peak electricity demand. What does this imply for the sh..

  Directly charge their residents for collecting garbage

The local government does not directly charge their residents for collecting garbage. However, the city faces increasing marginal costs of MC=1+0.6Q per ton. Residents' market benefit for garbage is MB=250-2.2Q per ton. How much garbage will resident..

  The aggregate demand curve or schedule shows

The aggregate demand curve or schedule shows the relationship between the total demand for output and the: A. Income level B. Interest rate C. Price level D. Real GDP.

  Variable rates are equally risky for lender and borrower

Compared to fixed interest rates, variable rates are riskier for the borrower but less risky for the lender. Compared to fixed interest rates, variable rates are riskier for the lender but less risky for the borrower. Variable rates are equally risky..

  In a gantt chart which represents the vertical axis

A project manager must consider several components when overseeing the planning process of aggregate operationsspecifically, whether such components are factors that are internal or external to the organization. Which of the following factors would..

  What is the programmed management

What is the programmed management approach in international marketing and advertising? How are Kraft Heinz, P&G, Nestle, and Starbucks are handing this?

  Consider about the welfare of people via carbon emission

If you consider about the welfare of people via carbon emission, solution you think is to impose carbon. Would it be imposed on only private sector or both private and public sectors (since bus, train and plane are services of public sector, it also ..

  Area under the line up to that quantity level

A. Solve for P, and give the y-intercept & slope [change in P/change in Q] of the line. B. If Qs = 300, what is the area under the line up to that quantity level?

  How much money must be set aside in the trust

In his will, a man wishes to establish a perpetual trust to provide for the maintenance of a small local park. If the annual maintenance is dollar 7500 per year and the trust account can earn 5% interest, how much money must be set aside in the trust..

  Trade deficits have an effect on inflation

The U.S. economy experienced large trade deficits in the 1980s and 1990s and tremendous economic growth in the mid- and late-1990s. Trade deficits have an effect on inflation. Explain the relationship between trade deficits and investment verbally an..

  Increase the effectiveness of fiscal stimulus

A situation in which the Fed holds interest rates constant (at a low level) in order to increase the effectiveness of fiscal stimulus is known as ___________.

  About the dollar exchange

Suppose that last year one dollar US exchanged for one euro if this year one dollar exchange for $.90 euro we can conclude 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