Marginal cost function of manufacturing-supply firm

Assignment Help Business Economics

Reference no: EM131389617

The demand function (inverse) and the marginal cost function of a manufacturing-supply firm are as follows:

P = -4.7Q + 240

MC = 2.6Q

(a) Write the total revenue function from the inverse demand function shown. (TR = Q x P)

(b) Compute the first derivative of the TR function – i.e., the marginal revenue function (MR).

(d) Compute selling price P* at profit-maximizing Q*.

(e) Compute total revenue at Q*.

Reference no: EM131389617

Questions Cloud

Confidence interval for the hours of sleep : MATH 221 Statistics for Decision Making iLab. Give and interpret the 95% confidence interval for the hours of sleep a student gets

Product functionality is the key to brand success : Take a position: Product functionality is the key to brand success versus product design is the key to brand success.

Housing prices are starting to recover : The stock market has been very strong over the last year, and housing prices are starting to recover

Ikea to be successful in china and india : What are the recommended course of action for IKEA to be successful in China and India?

Marginal cost function of manufacturing-supply firm : The demand function (inverse) and the marginal cost function of a manufacturing-supply firm are as follows: Write the total revenue function from the inverse demand function shown. Compute total revenue at Q*.

Minimum of two external sources : After carefully reading the case study, Smart Cookie, answer the following questions in a 5-7 page paper with support from a minimum of two external sources. Apply SWOT, Porter's Five Forces, or the BCG Matrix to analyze Kraft's strategic plan to ..

Dollar strengthens in international currency markets : Which of the following does not correctly complete the sentence? If the dollar strengthens in international currency markets. Which of the following correctly fills in the blanks? A major economic argument against a large and growing federal debt is:..

Assignment on international marketing plan : You will use your chosen country (from the Discussions) for this Assignment. In addition to the country, you will reference the shoe manufacturing firm (introduced in the Discussions).

Using the section on vertical integration vs outsourcing : Using the section on vertical integration vs outsourcing in, discuss the decision to keep fulfilment centers in house and develop their own custom software to run them, rather than outsource these activities. Does it meet one or more of the arguments..

User Account

All Pages