Find the price at which the firm sells the product

Assignment Help Financial Accounting
Reference no: EM13146074

Suppose that a firm maximizes its total profits and has a marginal cost (MC) of production of $8 and the price elasticity of demand for the product it sells is (-3). Find the price at which the firm sells the product.

Reference no: EM13146074

Questions Cloud

Ratio scale compared to measurements on ordinal scale : What additional information is obtained from measurements on an interval scale compared to measurements on an ordinal scale?
What possible adverse selection and moral hazard problems : Without further restrictions or incentives, what possible adverse selection and moral hazard problems can you envision with this proposal?
What would be the total number of moles of h2so4 needed : Given the reaction: 2Al + 3H2SO4 -> 3H2 + Al2(SO4)3 what would be the  total number of moles of H2SO4 needed to react completely with 5.0 moles of Al ?
What is the length of the wildtype enzyme prior : What was the mutational event that gave rise to the frameshift mutant? Determine precisely where the single nucleotide insertion or deletion occurred in the beta-lacatamase coding sequences.
Find the price at which the firm sells the product : Suppose that a firm maximizes its total profits and has a marginal cost (MC) of production of $8 and the price elasticity of demand for the product it sells is (-3). Find the price at which the firm sells the product.
What is the effect of an increase in the price of market : What is the effect of an increase in the price of market goods on a worker's reservation wage, probability of entering the labor force, and hours of work?
Identify independent variable and the dependent variable : Oxytocin were more likely to give their money to a trustee compared to people who inhaled an inactive placebo. For this experimental study, identify the independent variable and the dependent variable.
What is the nucleotide sequence of the wildtype anticodon : At which stop codons would the mutant tRNAglu be able to suppress translational termination? (assume that G-U base pairing is possible at the wobble position)
How the book came up with this slope : The relative cost of wheat into autos (slope of the line) is .33 bushels of wheat. So, to produce one auto, the nation needs to give up .33 bushels of wheat? How the book came up with this slope? Why is not 18/5= 3.6 the slope?

Reviews

Write a Review

Financial Accounting Questions & Answers

  Describe process of preparing a trial balance

Describe the process of preparing a trial balance. What is the purpose of preparing a trial balance? If a trial balance does not balance.

  What is the overhead cost per unit

What is the overhead cost per unit under the current system and evaluate the total overhead allocated to each product using the current system?

  Prepare each of journal entries

Prepare each of journal entries listed below related to Top's investment in Bottom top's amortization of excess acquisition price and Top's share of Bottom's 2006 income.

  Illustrate how this new system would work

illustrate how this new system would work. In this example the allocated base its machine-hours. if the company bases its predetermined overhead rate on capacity, by how much was manufacturing overhead under applied or over applied?

  Evaluate the confidence interval

Evaluate the 95% confidence interval for the population proportion p of all Americans who drink beer, wine, or hard liquor, at least occasionally and interpret your result.

  Illustrate what would be the estimated cost of equity

Currently, the cost of equity, rs, is 11.5% as determined by the CAPM. Illustrate what would be the estimated cost of equity if the firm used 60% debt?

  What was balance in eve prepaid insurance

The liability policy was $63,000 for eighteen-months, and the crop damage policy was $24,000 for a two-year term. What was the balance in Eve's prepaid insurance as of December 31, 2012?

  What marriage date would you recommend for the loving couple

Neither has any dependents nor itemized deductions. Based only on tax considerations, what marriage date would you recommend for the loving couple? How much would your choice save in taxes?

  Determine the ending finished-goods inventory cost

Determine the ending finished-goods inventory cost under absorption costing and evaluate the ending finished-goods inventory cost under variable costing

  Compute leo cost recovery deduction

on June 5, 2011, leo purchased and plaved in service a new car that cost $20,000. the business use percentage for the car is always 100%. he elects not to take additional firstyear depreciation. compute leo's cost recovery deduction in 2011 and 20..

  What is the amount and character of winchester gains

What is the amount and character of Winchester's gains and losses before the 1231 netting process?

  Calculate its expected cost savings for the coming year

If Heartland can increase inventory turnover from its present level of 9 times a year to a level of 12 times per year, compute its expected cost savings for the coming year.

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