In Figure 3.2 , what is the marginal cost of a slice of pizza when the quantity
Question:
In Figure 3.2 , what is the marginal cost of a slice of pizza when the quantity of pizza sold is 10,000 slices per day? For the same supply curve, what will be the quantity of pizza supplied at a price of $3.50 per slice?
Data from Figure 3.2
Transcribed Image Text:
Price ($/slice) 4 Supply 3 2 0 8 12 16 Quantity (1,000s of slices/day)
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (QA)
At a quantity of 10000 slices per day the margi...View the full answer
Answered By
Shivani Dubey
Hello guys, I am very good with the Advance mathematics, Calculus, Number theory, Algebra, Linear algebra, statistics and almost all topics of mathematics. I used to give individual tutoring students in offline mode but now want to help students worldwide so I am joining here. I can also give solutions in various coding languages of mathematics and software like mathematica, R, Latex, Matlab, Statistica, etc.
feel free to ask any doubt regarding mathematics
5.00+
2+ Reviews
10+ Question Solved
Related Book For
Principles Of Microeconomics
ISBN: 9780073517858
6th Edition
Authors: Robert Frank, Ben Bernanke, Kate Antonovics, Ori Heffetz
Question Posted:
Students also viewed these Business questions
-
Bombay Fast Food and 2 Bros. Pizza are pizza parlors that are located a few feet away from each other on a street in New York. a. Both firms sell pizza slices at a price of $1 each. Given this price,...
-
In an economy, there are 40 "white-collar" households, each producing 10 units of capital (and no labor); the income from each unit of capital is r. There are also 50 "blue-collar" households, each...
-
A Single Buyer in the Labor Market: The text treated extensively the case where market power is concentrated on the supply side but it could equally well be concentrated on the demand side. When a...
-
Do women lead differently than men?
-
Susan Crossing purchased a used Ford Focus for $12,000. Since purchasing the car, she has spent the following amounts on parts and labor: New stereo system ............................$1,500 New...
-
A firm's production function is Cobb-Douglas: \(q=A L^{a} K^{b}\). What is the firm's marginal revenue product of labor?
-
Founded in 1966 as a trader of oil and oil products, Vitol is a company with no external shareholders. All shareholders are also employees. It is a conglomerate company of energy companies that work...
-
Piscataway Plastics Company manufactures a highly specialized plastic that is used extensively in the automobile industry. The following data have been compiled for the month of June. Conversion...
-
Find the missing side lengths (in kilometers). (The sketches are not to scale.) 33 km 24 km 48 89 x 15 km 48% 89 22 km X = y = km E E km
-
In the rental housing market whose demand and supply curves are shown below, what will be the effect of a law that prevents rents from rising above $1,200 per month? Controlled rent = 1,200 Supply...
-
In Figure 3.1, what is the marginal buyers reservation price when the quantity of pizza sold is 10,000 slices per day? For the same demand curve, what will be the quantity of pizza demanded at a...
-
Explain the difference in recourse and nonrecourse liabilities when distinguishing between general and limited partners. Assume the partnership has $100,000 of recourse liabilities and $60,000 of...
-
12. Suppose you have been asked to estimate a simultaneous equation model (SEM) to jointly predict the Height and Weight of adults (i) aged (25-45), that is: Height = Bo+BGender; + B FatherHt; + B3...
-
A red laser ( lambda r = 6 3 3 nm ) is shone through a narrow slit located 2 m from a screen. When the light source is replaced by a blue laser ( b = 4 8 8 nm ) the position of the first minimum of...
-
What is Economic Development? What is the draft Economic Development Plan? What are the benefits of an Economic Development Plan? How was the draft Economic Development Plan developed? How will the...
-
Consider vectors u = 8i - 6j and v = 6i5j. Here you will show that v can be decomposed as a sum v = w + q where w is parallel to u and q is perpendicular to w. Enter your results using the component...
-
Developed Countries have steadily become the largest consumers of resources and at the same time have been wasting more resources than they actually need. This has led to an imbalance of resource...
-
A 5.6-in.-diameter pipe is supported every 10 ft by a small frame consisting of two members as shown. Knowing that the combined weight per unit length of the pipe and its contents is 18.5 lb/ft and...
-
For each equation, (a) Write it in slope-intercept form (b) Give the slope of the line (c) Give the y-intercept (d) Graph the line. 7x - 3y = 3
-
When Dell adopted a lean production processa management tool that reduces inefficiencies without reducing productionit became one of the worlds largest computer manufacturers. What impact did the...
-
Workers act as sellers of their time in the labor market in return for some wage. Lets discover your individual supply curve for labor. For each hourly wage rate provided in the accompanying table,...
-
As part of the marketing team at Delta airlines, you must develop a strategy to increase demand for flights between Kansas City and Detroit. You examine the data from previous flights and determine...
-
What is the total factory overhead to be allocated to each unit of small table lamps? Dawson Company manufactures small table lamps and desk lamps. The following shows the activities per product and...
-
At 31 March 201 an organisation had 5,400 employees. During the previous year 750 had left the organisation, although the management had decided that only 600 needed replacing and had recruited...
-
a. Purchased $78,000 of raw materials on account. b. $76,000 in raw materials were used in production. Of this amount, $62,000 was direct materials and the remainder was indirect materials. c. Paid...
Study smarter with the SolutionInn App