Complete the following table and identify the profit-maximizing output. a. b. What is true about marginal revenue

Question:

Complete the following table and identify the profit-maximizing output.

b. What is true about marginal revenue and marginal costs when profit is maximized?
c. What would be the profit-maximizing level of output if price fell to$9?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Exploring Economics

ISBN: 9781439040249

5th Edition

Authors: Robert L Sexton

See More Books

Question Posted: Feb 07, 2013 05:42 AM

See More Questions

Complete the following table by indicating for (a) through (g) whether the proper answer is debit orcredit. Normal Balance Account Increase debit Decrease ( credit (a) Purchases Discounts Purchases...
Complete the following table by indicating for (a) through (g) whether the proper answer is debit orcredit. Normal Balance (b) credit (et Account Purchases Purchases Discounts Purchases Returns and...
Complete the following table by indicating for (a) through (g) whether the proper answer is debit orcredit. Normal Balance Account Increase Decrease Purchases Purchases Discounts Purchases Returns...
What are the institutional features that appear to have delayed the implementation of IFRS in India?
What challenge to cost accountants and cost systems is posed by the increased interest in nonfinancial performance measures?
Obtain the daily unadjusted closing prices of each of the 30 stocks in the Dow Jones Industrial Average for the year 2017. There were no stock splits during that period. (There is a text file linked...
Why did Europeans colonize regions in the 19th century and how did they justify taking colonial possessions?
1. Design tables in 3NF. As you create the database, include various codes for at least three of the fields. 2. Use sample data to populate the fields for at least three records in each table. 3....
You have a ball bearing and a bowl.You let the ball roll down from the top of the ball; it moves up and down the bowl's wall for some time. (a) Is this vibrational motion? explain why or why not. (b)...
1. Why would the placement or removal of the job classifications in a bargaining unit have any impact on the quality of the job performed? 2. If the company knew that the tester "experiment" was not...
Industry councils promote the consumption of particular types of farm products. These groups urge us to Drink Milk or Eat Apples. Very little advertising is done by individual farmers. Using your...
Explain why the following conditions are typical under perfect competition in the long run. a. P = MC b. P = minimum ATC
Evaluate the following integrals. S Vtan x sec4 x dx
Based on the following information, what is the Operating Expenses common size percentage for the Zeta Company for the current year? Zeta Company Sales Cost of Goods Sold Operating Expenses Net...
The firm ABC currently pays no dividends to shareholders. Its stock is , however, expected to pay the dividend of 8 0 per share a year from today. Thereafter, the dividend is expected to grow at an...
The management of BWERERE has projected the cash flows of project A and B as follows ( TZS 0 0 0 ) YEAR PROJECT X PROJECT Y 0 - 1 0 , 0 0 0 - 2 0 , 0 0 0 1 4 , 0 0 0 1 0 , 0 0 0 2 5 , 0 0 0 9...
On June 1, Davis Inc. issued an $81,300, 11%, 120-day note payable to Garcia Company. Assume that the fiscal year of Garcia ends June 30. Using a 360-day year, what is the amount of interest revenue...
Based on the following information, what is the Merchandise Inventory common size percentage for the Epsilon Company for the current year? Epsilon Company Assets Liabilities Cash $175,000 Current...
Colombia is the worlds biggest producer of roses. The global demand for roses increases and at the same time Columbias central bank increases the interest rate. In the foreign exchange market for...
Discrete sample spaces: suppose there are N cable cars in San Francisco, numbered sequentially from 1 to N. You see a cable car at random; it is numbered 203. You wish to estimate N. (See Goodman,...
Economists predict that my interest in purchasing a convertible also depends on how much I think other people like convertibles. How is this prediction related to the durability of cars?
What is the price we pay for differentiated goods under monopolistic competition?
Do you think there would be as much of honey wheat berry bread or other higher quality products available for sale if advertising was not allowed?
Why does the fact that price exceeds marginal cost in monopolistic competition lead to allocative inefficiency?
Schwiesow Corporation has provided the following information: Cost per Cost per Unit Period Direct materials $ 7.05 Direct labor $ 3.50 Variable manufacturing overhead $ 1.65 Fixed manufacturing...
Choose an industry in which you are interested in working. How is that industry trending? What internal and external factors may affect the direction of the organization? For your initial post,...
The DeVille Company reported pretax accounting Income on its Income statement as follows: 2024 2025 2026 2027 $ 420,000 340,000 410,000 450,000 Included in the income of 2024 was an installment sale...

Complete the following table and identify the profit-maximizing output. a. b. What is true about marginal revenue

Question:

Total Revenue Marginal Revenue Marginal Cost Quantity Total Profit Price $12 12 12 12 10 $120 $12 $8 $25 12 13 14 12 14

Step by Step Answer:

a b Marginal revenue equals marginal costs at 13 units of output so 13 units is ...View the full answer

Exploring Economics

Students also viewed these Economics questions