What is the marginal revenue of the 101st pound of heirloom

Assignment Help Econometrics
Reference no: EM131132470

1.10 Sally runs a vegetable stand. She is selling 100 pounds of heirloom tomatoes per week, at a price of $3.75 per pound. If she lowers the price to $3.70, she will sell 101 pounds of heirloom tomatoes. What is the marginal revenue of the 101st pound of heirloom tomatoes?

Reference no: EM131132470

Questions Cloud

Calculate by hand a regression of the data for p : Calculate by hand a regression of the data for p on the data for e in Exercise 1.3, first using all 12 observations, then excluding the observation for Japan, and provide an economic interpretation.
What is the amount of goodwill resulting from the business : On April 1, 20X1, it was determined that the inventory of Simon had a fair value of $190,000, and the property and equipment (net) had a fair value of $560,000. What is the amount of goodwill resulting from the business combination?
Why would a reader be interested in the larger work : What is the importance of the research? What changes should be implemented as a result of the findings of the work? Why would a reader be interested in the larger work?
Define the class of linear estimators : Let Y1, Y2,...,Yn be n i.i.d. random variables with common mean µ and common variance σ2. Let Y¯ denote the sample average. Define the class of linear estimators of µ
What is the marginal revenue of the 101st pound of heirloom : What is the marginal revenue of the 101st pound of heirloom tomatoes?
Prepare a balance sheet for the bank : What is the maximum amount by which the money supply can be increased as a result of First Bank's new loan?
What is the amount of goodwill resulting from the business : On April 1, 20X1, it was determined that the inventory of Simon had a fair value of $190,000, and the property and equipment (net) had a fair value of $560,000. What is the amount of goodwill resulting from the business combination?
Discuss the properties of this estimator : Given a sample of n observations, the investigator estimates β2 by calculating it as the average value of Y divided by the average value of X. Discuss the properties of this estimator. What difference would it make if it could be assumed that β1 is..
Are the standard errors in the table good estimates : Are the standard errors in the table good estimates of this standard deviation?

Reviews

Write a Review

Econometrics Questions & Answers

  What is the predicted quantity dmenad

a multiple regression analysis based on a data set that consists of 30 observations yielded the following estimated demand equation: Q=120 - 1.1P + 0.04I + .90A where P is the price, I is Income, and A is advertising. If price is equal to $1000, i..

  How it might be used for the small business

Analyze several of the possible choices for CPU, memory, storage, and input/output peripherals, and then make a recommendation for a specific file server solution. Justify the choices that you recommend.

  What is the real value of japan''s net exports

The real exchange rate falls to 3 barrels of oil per camera. Although the decline in the real exchange rate makes oil more expensive in terms of cameras, in the short run there is relatively little change in the quantities of exports and imports, ..

  What has happened to your accounting profit

What has happened to your accounting profit?

  Determine the cash flow statement including npv and irr

The motel will cost $1,000,000 to build. Simplify depreciation to be calculated as straight line over 30 years. It will be financed with a 30 year loan at 8% interest compounded annually with annual payments. It will be sold at the end of year 15 for..

  What is the break even price

what is the break even price What is the shut-down price What if cable was currently $70.00 and was lowered to $40.0, how large is the price effect How large would be the quantity effect be What is the profit maximizing qunatity and price for cabl..

  What happens to the reserves of the garden centers bank

This Christmas, you decide to buy your true love a partridge in a pear tree. After consulting with several garden centers, you make your purchase by writing a check for $150. The garden center promptly deposits your check in its bank.

  What is the salvage value of each alternative

Three assets are being considered. Assets A, B and C have natural lives of 4, 5 and 6 years and costs of $12,000, $20,000 and $30,000 respectively. There will be no salvage value at the end of each assets life. market value decreases in a straight..

  Calculate the profit-maximizing p-q and total profit

Suppose the demand for a firm's product is estimated to be P = 200 - 2Q from which it can be shown that TR = PQ = 200Q - 2Q2 . The cost of producing and selling the product is known to be TC = 625 + 50Q + 3Q2 .

  Estimate simple linear regression models

Estimate simple linear regression models for both the raw data and the logs, estimating both the intercept and the slope.

  What is the future value in 40 years of the incom differnce

According to U.S. Census Bureau data (2004), average monthly income for a person with a degree in engineering was $5296 versus $3443 for a degree in liberal arts. What is the future value in 40 years of the incom differnce

  How much profit will the firm earn

w=10, r=25. The price of output is constant at $50. The production function is f(L,K) = L^.5K^.5.If the current capital stock is fixed at 1600 units, what is L* in the short run How much profit will the firm earn

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