What is the maximum revenue

Assignment Help Microeconomics
Reference no: EM132136781

Question: The demand for boobles can be written as: Q = 11,000 - 8P.

Calculate the price, quantity, total revenue and marginal revenue when the elasticity of demand = -2.2.

Calculate the price, quantity, total revenue and elasticity of demand when MR = $60.

Calculate the price and quantity at which total revenue is a maximum. What is maximum revenue?

Reference no: EM132136781

Questions Cloud

Describe the history of total quality management : Describe the History of Total Quality Management (TQM). What are the challenges faced by Health Organizations in implementation of Quality Management Programs i
Determine the marginal revenue for a case of generic aspirin : Suppose you are the chief executive officer of a small pharmaceutical company that manufactures generic aspirin. You want the company to maximise its profits.
How would rural economy react to the demonitization : My question would impact of demonitization on rural and agrarian economy, it is said that digitization would rise, however to it implementation would be.
What is manufacturing cell : What is a manufacturing cell? Discuss an example of a manufacturing process that would fall in this layout.
What is the maximum revenue : The demand for boobles can be written as: Q = 11,000 - 8P. Calculate the price and quantity at which total revenue is a maximum. What is maximum revenue?
Calculate the profit maximizing quantity : Sam can sell all of the output he wants at a price of $1000. He has the following cost function: TC = 200,000 + 80Q + .08Q2.
Basic c programming in days : Would you help me by giving me some helpful tips about how to study basic C programming in days?
Explains the rise of the indian motor industry : Read the case "The Rise of the Indian Automobile Industry" on page 291 of Hill. Which of the following trade theories, absolute advantage.
Summarise the main argument and the rhetorical situation : In four or five sentences, introduce your chosen article, and summarise the main argument and the rhetorical situation

Reviews

Write a Review

Microeconomics Questions & Answers

  D you think fed uses monetary policy to direct economy to

monetary policy is difficult when interest rates are low. for example in the early 2000s the bank of japan lowers the

  Assume that there are two goods in the economy x and y

assume that there are two goods in the economy x and y. preferences of consumera are represented by the utility

  Define the industry and the market equilibrium

Specifically, the following critical elements must be addressed: Define the industry and the market equilibrium associated with the product or service.

  Select a product that you use frequently research the

select a product that you use frequently. research the company that produces this product as well as the general

  What would be implied by a positive price elasticity

Explain why the price elasticity of demand is generally a negative number, except in the cases where the demand curve is perfectly elastic or perfectly inelastic. What would be implied by a positive price elasticity of demand

  Society faces economic tradeoffs

1) Every society faces economic tradeoffs. This means a. producing more of one good means less of another good can be produced b. not everyone can have enough goods and services to survive.

  Define aggregate production function

Assuming other things equal and capital and labor are fixed in quantity and using our aggregate production function and factor market diagrams, illustrate what happens to output, the real retal rate on capital, and the real wage of labor following..

  Determine the underlying rate of inflation

As a manager, one of your responsibilities is to monitor recent changes in inflation. However, the recent statistics appear to be quite confusing.

  How many customers per day will be required

The Metropolitan Transit Authority (MTA) has just opened a new subway line (the Orange Line) in its underground transportation network.

  What is the target fee for an overnight stay

Let us suppose that a hospital wants to set their fees for an overnight stay such that the contribution margin on a hospital room will be 35%.

  The sum of payments made to resource owners

The sum of payments made to resource owners for the use of their resources is:

  Bonjour à tous

Bonjour à Tous,SVP j'ai besoin du document ECO 1300.Qui peux m'aider?

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