A competitive firm's short run total cost function is given by TC=q-16q+100q+120 Calculate the profit maximizing output
Question:
Calculate the profit maximizing output and the resulting profit when price is $30.
Calculate the profit maximizing output and the resulting profit when price is $80.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 76% (17 reviews)
In competitive market P MR Calculation of profit For ...View the full answer
Answered By
Michael Owens
I am a competent Software Engineer with sufficient experience in web applications development using the following programming languages:-
HTML5, CSS3, PHP, JAVASCRIPT, TYPESCRIPT AND SQL.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Managerial Economics
ISBN: 978-1118808948
8th edition
Authors: William F. Samuelson, Stephen G. Marks
Question Posted:
Students also viewed these Cost Accounting questions
-
The Deering Manufacturing Company's short- run average cost function in 2012 was AC = 3 + 4Q where AC is the firm's average cost (in dollars per pound of the product), and Q is its output rate. a....
-
A: Suppose you have a homothetic production technology and you face input prices (w,r). (a) On a graph with labor on the horizontal and capital k on the vertical axis, illustrate a ray along which...
-
A firm producing hockey sticks has a production function given by q = 2 K L In the short run, the firms amount of capital equipment is fixed at K = 100. The rental rate for K is v = $1, and the wage...
-
Nancy takes out a 29-year loan of $650,000 today. The bank charges interest at 3.6% p.a. compounded monthly. Nancy makes equal month-end payments starting in one month's time. Calculate how much...
-
Using the following revenue journal for Alpha Services Inc., identify each of the posting references, indicated by a letter, as representing (1) posting to general ledger accounts or (2) posting to...
-
Set up a tabular CUSUM scheme for the flow width data used in Example 6.1 (see Tables 6.1 and 6.2). When the procedure is applied to all 45 samples, does the CUSUM react more quickly than the x chart...
-
Consider the multiple linear regression model fit to the baseball data in Problem 3.41. Problem 3.41 Consider the 2016 major league baseball data in Table B.22. While team ERA was useful in...
-
1. What are the three most important trends cited in this case? Explain your answer. 2. To date, what are the three most accurate predictions cited in the case? Explain your answer. 3. To date, what...
-
Suppose that the rate of inflation (the percent change in the CPI) is expected to be 8% next year. If you expect to earn a 4% raise over the same time period, how has your purchasing power changed?
-
Determine vo in the circuit of Fig. 10.52. 2 H 16 sin 4 V (+ 2cos 4t A 6
-
Presented here are a statement of income and retained earnings and comparative balance sheets for Gallagher, Inc., which operates a national chain of sporting goods stores. Gallagher, Inc. Statement...
-
County is considering using a piece of park land for one of two alternative recreation projects. Project A would require construction costs of $2 million (year 0) and generate net benefits of $1...
-
For each blank select one entry from the corresponding column of choices. Fill all blanks in the way that best completes the text. Students may consider modernist works such as James Joyces Finnegans...
-
At the end of 2019, CeeNet, Inc., which uses the ASPE deferred tax method, had the following balances reported in its financial books: Temporary differences [Capital cost Illowance in excess of book...
-
A B C D E F G H I J 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 A) On June 1, the 4-month interest rates in Switzerland and the United States were, respectively, 2% and 5% per annum with...
-
j. Rate of return on common stockholders' equity (ROR on common SE) Begin by selecting the correct formula. ROR on common SE = Now, compute the ratio for both companies for both years. (Enter your...
-
Which one of the following does a decrease of general interest rates usually lead to? Higher multiples Lower multiples Higher stock prices Lower stock prices -12:55 13.34 10/30 video1358927861 (9 sur...
-
Express the limit lim 7-400 (3(z;)5 6(z:)*)Az; over [2, 3] as an integral. f*f(z)dx. Provide a, b and f(x) in the expression f(x) =
-
Define the term activities.
-
As long as we can't lose any money, we have a risk-free investment." Discuss this comment. Q2: Both investing and gambling can be defined as "undertaking risk in order to earn a profit." Explain how...
-
Radial flow between two coaxial cylinders, consider an incompressible fluid, at constant temperature, flowing radially between two porous cylindrical shells with inner and outer radii kR and R. (a)...
-
Pressure distribution in incompressible fluids, Penelope is staring at a beaker filled with a liquid, which for all practical purposes can be considered as incompressible; let its density be P0. She...
-
Flow of a fluid through a sudden contraction (a) An incompressible liquid flows through a sudden contraction from a pipe of diameter D 1 into a pipe of smaller diameter D 2 . What does the Bernoulli...
-
This project requires an investment in fixed assets, at time 0, of 44,000,000. Assets will be depreciated straight line in 5 years. This project has a 4 year life. The revenues for each of the 4...
-
Lorenzo Company applies overhead to jobs on the basis of direct materials cost. At year - end, the Work in Process Inventory account shows the following. Work in Process Inventory Date Explanation...
-
T-bill with a $10,000 par has 174 days until maturity. The T-bill has a bank discount bid quote of 2.208% and ask quote of 2.198%. What is the return on the investment in this T-bill if the trader...
Study smarter with the SolutionInn App