Paulina sells beef in a competitive market where the price is $5 per pound. Her total revenue
Question:
a. Fill out the table.
b. At what quantity does marginal revenue equal marginal cost?
c. What is the profit-maximizing quantity?
Table 13P-2:
Transcribed Image Text:
Total Total Profit Marginal profit ($) Quantity of beef (Ibs.) Marginal revenue Marginal cost revenue cost (S) (S) (S) (S) (S) 4 5 10 2 15 14 4 20 22 3. 4.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 33% (6 reviews)
a b Marginal revenue equals marginal cost at a quantity of 3 pounds c ...View the full answer
Answered By
Aysha Ali
my name is ayesha ali. i have done my matriculation in science topics with a+ . then i got admission in the field of computer science and technology in punjab college, lahore. i have passed my final examination of college with a+ also. after that, i got admission in the biggest university of pakistan which is university of the punjab. i am studying business and information technology in my university. i always stand first in my class. i am very brilliant client. my experts always appreciate my work. my projects are very popular in my university because i always complete my work with extreme devotion. i have a great knowledge about all major science topics. science topics always remain my favorite topics. i am also a home expert. i teach many clients at my home ranging from pre-school level to university level. my clients always show excellent result. i am expert in writing essays, reports, speeches, researches and all type of projects. i also have a vast knowledge about business, marketing, cost accounting and finance. i am also expert in making presentations on powerpoint and microsoft word. if you need any sort of help in any topic, please dont hesitate to consult with me. i will provide you the best work at a very reasonable price. i am quality oriented and i have 5 year experience in the following field.
matriculation in science topics; inter in computer science; bachelors in business and information technology
_embed src=http://www.clocklink.com/clocks/0018-orange.swf?timezone=usa_albany& width=200 height=200 wmode=transparent type=application/x-shockwave-flash_
4.40+
11+ Reviews
14+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Darla sells roses in a competitive market where the price of a rose is $5. Use this information to fill out the revenue columns in Table 13P-1. Average Marginal Quantity of roses Total revenue (SI...
-
A firms output and total costs are given in Table 12Q-1. Going from a quantity of 3 to a quantity of 4, is marginal product increasing or decreasing? How can you tell?
-
A firms output, variable costs, and total costs are given in Table 12P-4. a. Calculate marginal cost using the formula given in the chapter: change in total cost divided by change in quantity. b....
-
Through the use of strategic alternatives, companies may compete in a marketplace, achieve its vision, or if no vision has been articulated, decide where it might go and what it might achieve....
-
A brother and sister try to communicate with a string tied between two tin cans (FIGURE 14-44). If the string is 7.6 m long, has a mass of 29 g, and is pulled taut with a tension of 18 N, how much...
-
Santana Reys two departments, Computer Consulting Services and Computer Workstation Furniture Manufacturing, have each been profitable for Business Solutions. Santana has heard of the cash conversion...
-
An incompressible fluid flows outward through a blower as indicated in Fig. P5.81. The shaft torque involved, \(T_{\text {shaft }}\), is estimated with the following relationship: \[ T_{\text {shaft...
-
The Metropolitan Book Company purchases paper from the Atlantic Paper Company. Metropolitan produces magazines and paperbacks that require 1,215,000 pounds of paper per year. The cost per order for...
-
Watch the video of the Frontline documentary about questionable police shootings by the New Orleans Police Department in the wake of Hurricane Katrina. Develop an essay that discusses the possible...
-
Continental AG is a large German supplier of auto parts. Assume that Continental had 62.4 million of prepaid expenses on January 1, 2012. ( stands for euro the European currency.) This item mainly...
-
Suppose an individual firm is one of many firms in a perfectly competitive market. Explain why this means the firms marginal revenue will be equal to the market price.
-
On Figure 13P-1, show the profit-maximizing quantity when price is P1. Label this point Qmax1. Show the profit-maximizing quantity when price is P2. Label this point Qmax2. Figure 13P-1: Price MC -...
-
Apples and Googles income statements in Appendix A both show increasing sales and cost of sales. Thegross margin ratio can be used to analyze how well companies control costs as sales increase....
-
Data table Manufacturing Costs Direct Materials Direct Labor Variable MOH Fixed MOH Total Cost per pair (100,000 pairs) Total Cost $ 750,000 $ 80,000 520,000 650,000 $ 2,000,000 $ 7.50 0.80 5.20 6.50...
-
Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any common stock during the year. A total of...
-
______ is a specialized, non-geographically bound community that is based on a structured set of social relations among admirers of a brand.
-
What are the implications of the visionary leadership style for your current position as Dean of a college?
-
Maya has savings of $50,000. She invests in a bond mutual fund that pays 6% interest each year. Ignoring compounding, what are Maya's total savings after 10 years? Ex: For $1,000 at 3% for 5 years,...
-
What is CRM, and how can it help improve responsiveness to customers?
-
What are the two components of a company's income tax provision? What does each component represent about a company's income tax provision?
-
1. Your savings account pays 4 percent per year: Each $100 in the bank grows to $104 over a one-year period. If prices increase by 3 percent per year, by keeping $100 in the bank for a year you...
-
1. Your savings account pays 4 percent per year: Each $100 in the bank grows to $104 over a one-year period. If prices increase by 3 percent per year, by keeping $100 in the bank for a year you...
-
1. Your savings account pays 4 percent per year: Each $100 in the bank grows to $104 over a one-year period. If prices increase by 3 percent per year, by keeping $100 in the bank for a year you...
-
How does the implementation of a centralized database system impact the efficiency and data accuracy in a large retail organization?
-
Identify some processes related to a workplace, assess the benefits and concerns that may arise as a result of the relative sizes of P-time with respect to D-time. In a table include the benefits and...
-
industry competitors and customers analysis & develop a communications pla. Choose any company and analyze its industry, competitors and customers. Then either present theirs communications plan or...
Study smarter with the SolutionInn App