User Account

All Pages

What price should the monopolist shut down

Assignment Help Microeconomics
Reference no: EM131017476

A Monopolist's Demand and Total Cost functions are:

P= 1624 -4Q

TC= 22,000 + 24Q -4Q(squared) + 1/3Q (to the third power)

Where Q is output produced and sold

a. At what level of output and sales (Q) and price (P) will Total Profits be maximized?

b. At What level of output and sales (Q) and price (P) will Total Revenue be maximized?

c. At what price (P) should the monopolist shut down?

Reference no: EM131017476

Questions Cloud

If you order new equipment for delivery next month : If you order new equipment for delivery next month. as a result you would expect to see which of the following on this months balance sheet?
Develop a marketing plan for a new hospitality business : In this assignment you will develop a marketing plan for a new/existing hospitality or tourism business. You can choose a new hotel, a restaurant or any hospitality or tourism business
Define the purpose of vhdl program segments : Describe some of the differences between analog and digital electronics - List common products that can have either a digital or analog output.
Use the sample and confidence level to construct : Use the sample and confidence level to construct the confidence interval estimate of the population proportion p. n=500, x=400, 95% confidence_
What price should the monopolist shut down : A Monopolist's Demand and Total Cost functions are: P= 1624 -4Q, TC= 22,000 + 24Q -4Q(squared) + 1/3Q (to the third power), Where Q is output produced and sold. At what level of output and sales (Q) and price (P) will Total Profits be maximized?
Write an equation for the number of boxes you sell : Write an equation for the number of boxes you sell as a function of the price you charge. Denote "B" for number of boxes, and "P" for the price you charge.
Daily machines breakdown in manufacturing floor : Daily machines breakdown  in manufacturing floor were maintained by manufacturing engineer, with the following results
What will be the earnings per share of the merged firm : Castles in the Sand currently sells at a price-earnings multiple of 10. The firm has 2 million shares outstanding, and sells at a price per share of $40. Firm Foundation has a P/E multiple of 8, has 1 million shares outstanding, and sells at a pr..
Fifty percent of the people : 1.Fifty percent of the people that get mail-order catalogs order something. Find the probability that exactly two of 8 people getting these catalogs will order something.

Reviews

Write a Review

Microeconomics Questions & Answers

  One input to a production process

Suppose there is only one input to a production process. Is each of the conditions below possible? If so, describe a real-world scenario that would fit the conditions, and draw a production function that reflects this scenario. If not, explain ..

  Why asymmetric information between buyers and sellers lead

If the used car market is a "lemons" market, how would you expect the repair record of used cars that are sold to compare with the repair record of those not sold?

  Explain implication of facts for federal government spending

In addition, "Federal outlays are expected to increase by 2.6 percent this year, to $3.5 trillion, or 20.5 percent of GDP-their average percentage over the past 40 years. CBO projects that under current law, outlays will grow faster than the econo..

  The future marginal productivity of capital increases

The future marginal productivity of capital increases. Labor supply decreases. Expected future income declines. There's a temporary beneficial supply shock.

  Production points along a production possibilities curve

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 ..

  George foreman was the professional boxer who made comeback

george foreman was a professional boxer who made a comeback by endorsing grills. foreman does not own the company that

  Why is the demand of labor a derived demand

Why is the demand of labor a derived demand Explain the shape of the supply of labor curve. What is the relationship between productivity and the wages earned by an employee What are some factors that determine the level of your income

  What is the arc elasticity of demand for lamb

2. At a price of $9.50/pound, people buy 45 pounds of lamb. At a price of $10.50/pound, people buy 35 pounds of lamb. What is the arc elasticity of demand for lamb in this price range?

  How do you see this whole experience impacting your future

Explain how your Grand Canyon experience changed you personally, professionally, and spiritually.

  What actions would make the situation efficient

In each of the following cases, explain whether you think the situation is efficient or not. If it is not efficient, why not? What actions would make the situation efficient?

  Is society better off because ehrenreich does not personally

Ehrenreich writes that hiring a cleaning person was "not the kind of relationship that she wanted to have with another human being." What does she mean?

  Define independence of demand and supply curves

If the two are not independent, a shift in the demand curve can lead to a shift in the supply curve referred to as? a)supply-side economics b)physician-induced demand

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd