What is marginal revenue equal

Assignment Help Business Economics
Reference no: EM13160566

A firm's demand function is defined as Q = 14 %u2013 2P. a) Use this function to calculate total revenue when price is equal to 3 and when price is equal to 4. b) What is marginal revenue equal to between P=$3 and P=$4?

Reference no: EM13160566

Questions Cloud

What volume of 0.1000 m naoh is required : What volume of 0.1000 M NaOH is required to titrate a 0.1000 M propionic acid solution, CH3CH2COOH, Ka = 1.3 x 10-5 , to the equivalence point?
Traditional cognitive intelligence-emotional intelligence : Describe the differences between traditional cognitive intelligence and emotional intelligence.
Does this mean that the average american is twice as well : It is $16 trillion today. Does this mean that the average American is twice as well off today than in 1996? Why or why not?
Describe how globalization has affected positively : Globalization has had a significant impact on the world economy and the economy of the United States. Using economic principles, describe how globalization has affected positively and negatively the economy of the United States.
What is marginal revenue equal : A firm's demand function is defined as Q = 14 %u2013 2P. a) Use this function to calculate total revenue when price is equal to 3 and when price is equal to 4. b) What is marginal revenue equal to between P=$3 and P=$4?
Appealing or discouraging about natural law theory : What do you find appealing or discouraging about Natural Law Theory? What are those natural laws? Who knows? Why not use this theory as your moral guide through life?
Identify the limiting reagent : C2H4+2O2= 2CO+2H2O if 2.70 mol C2H4 is reacted with 6.30 mol O2  a. identify the limiting reagent b. calculate the moles of water produced
Securities and exchange commission basics : The Securities and Exchange Commission (SEC) is empowered to do the following a. Set reporting standards for firms with publicly traded debt or equity securities b. Bring enforcement actions against company executives and auditors for accounting rela..
Evolution of the socio-political and cultural milieu : What were The evolution of the socio-political and cultural milieu that created the conditions necessitating and including the formation of the: (a) Declaration of Independence (b) The Constitution (including the Bill of Rights)

Reviews

Write a Review

Business Economics Questions & Answers

  What annual interest rate must they earn to reach their goal

What annual interest rate must they earn to reach their goal, assuming they don't save any additional funds?

  What is soroush income elasticity of demand for good

What is Soroush’s income elasticity of demand for Good 1? C. What is Soroush’s income elasticity of demand for Good 2?

  Erin now has preferences such that she prefers cash gift

Assume that Erin now has preferences such that she prefers the cash gift. Using a separate graph from part (a), graph Erin's optimal choice before and after gift.

  How would you treat the possible future costs of a lawsuit

how would you treat the possible future costs of a lawsuit that may occur as a result of this project, where the cost of the lawsuit might range from $10,000 to $500,000 with an associated probability distribution?

  Discuss how this affected his contribution to economics

Consider the following: Clark was considered to have “thought out the concept of marginal utility and its influence on exchange value” without having read Jevons, even though Jevon’s had already published. Discuss how this affected his contributio..

  What would happen to the quantity demanded of aluminum

If the cross-price elasticity of aluminum with respect to steel is 2.0: What would happen to the quantity demanded of aluminum if the price of steel increases?

  Who impressed by the first interviewee completing

You are very impressed by the first interviewee completing both phases of BK books interviewing process, and she has indicated that her reservation salary is 110,000. Should you make her an offer at that salary or continue the interviewing process..

  Elucidate the effect on prices and output

Elucidate with an aid of a diagram , the effect on prices and output if households decide to spend a large share of their income.

  Prepare a business plan for transport company

Prepare an individual, 2500 word business plan and group presentation detailing your business idea. Use the following details to help structure your business plan.

  Balance sheet balances only assets and liabilities

Explain how that the balance sheet balances if these are the only assets and liabilities.

  Elucidate the actual cost

Elucidate how much the equilibrium quantity of wheat sold. Elucidate the actual cost which is equal to the equilibrium cost.

  Expected chances of finding

You believe that there is an equally likely chance that this information will either double expected chances of finding a well, or inform you for certain that the area is not commercial.

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